Common use of Ultimate DDA Owners Clause in Contracts

Ultimate DDA Owners. (i) If the Purchaser is acting as trustee, agent, representative or nominee for the ultimate owner of the DDAs (an “Ultimate DDA Owner”), the Purchaser understands and acknowledges that the representations, warranties and agreements made in this Purchase Agreement are made by the Purchaser both (a) with respect to the Purchaser and (b) with respect to the Ultimate DDA Owner. The Purchaser further represents and warrants that it has all requisite power and authority from the Ultimate DDA Owner to execute and perform the obligations under this Purchase Agreement. (ii) Except as otherwise agreed to in writing with the Token Issuer, the Purchaser agrees to indemnify the Sponsoring Parties for any and all costs, fees and expenses (including reasonable legal fees and disbursements) in connection with any damages resulting from the assertion of the Purchaser’s lack of proper authorization from the Ultimate DDA Owner to enter into this Purchase Agreement or perform its obligations under it.