Title of Approved Digital Fiat Currencies Sample Clauses

Title of Approved Digital Fiat Currencies. You agree and acknowledge that any and all Approved Digital Fiat Currencies in your Aquarius Account are held for you in Aquarius’ Customer Omnibus Account(s) for your benefit on a custodial basis, wherein: (a) Title to the Approved Digital Fiat Currencies reflected in your Aquarius Account and held for you by us in the Customer Omnibus Account(s) shall at all times remain with you and shall not transfer to Aquarius. As the beneficial owner of the Approved Digital Fiat Currencies in the Customer Omnibus Account(s), you shall bear all risks of loss of such Approved Digital Fiat Currencies. Aquarius shall not have any liability for fluctuations in your Approved Digital Fiat Currencies held in the Customer Omnibus Account(s). (b) Aquarius does not represent or treat the Approved Digital Fiat Currency deposited or held for you in our Customer Omnibus Account(s) as belonging to Aquarius or forming part of Aquarius’ assets, and none of such Approved Digital Fiat Currency shall or may be loaned to Aquarius. Subject to the terms of this Agreement, Aquarius will not sell, transfer, loan, hypothecate, create any security or preferential interest with the Approved Digital Fiat Currency held in our Customer Omnibus Account(s) unless instructed by you or compelled by a court of competent jurisdiction to do so. (c) You retain control of the Approved Digital Fiat Currencies held for you in the Customer Omnibus Account(s). The movement of Approved Digital Fiat Currency in and out of your Aquarius Account (held for you in the Customer Omnibus Account) is solely controlled and directed by you by giving the relevant instructions through the Aquarius Site and/or Aquarius Trade Platform for us to relay to the Bank. You should note that the Bank accepts instruction only from us and will not accept any instruction from you. By receiving the relevant instructions from you in respect of the Approved Digital Fiat Currency, we shall be entitled to assume that such instructions are authentic, correct and complete and you agree that Aquarius shall have no liability whatsoever for any loss that may occur as a result of your instructions. (d) Aquarius is under no obligation to issue any replacement Approved Digital Fiat Currency or provide compensation in any manner if any Approved Digital Fiat Currency is lost, stolen, or otherwise inaccessible unless such event is directly caused by fraud, gross negligence or willful misconduct on the part of Aquarius. You acknowledge and agree that a...
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