Withdrawal of XRP Sample Clauses

Withdrawal of XRP. For the purposes of this Agreement, Company shall provide Purchaser with exclusive access and control over a node on the Company’s RippleNet system (“RippleNet Node”) and Purchaser agrees that all withdrawals of XRP from the Bailment Account shall be made via Purchaser’s RippleNet Node. Purchaser utilises its RippleNet Node to purchase XRP for USD from the Bailment Account. Such purchase shall occur at an XRP/USD spot price provided by RippleNet, which is ultimately derived from a mutually agreed upon rate quote (“Market Rate”). Purchaser is deemed to have purchased Committed XRP from Company when such Committed XRP is withdrawn from the Bailment Account through use of its RippleNet Node. If Purchaser withdraws XRP from the Bailment Account without utilising its RippleNet Node, Purchaser is deemed to have purchased the Committed XRP at the USD/XRP Breach Price, provided in Section 3(o), as of the time of such withdrawal. Company shall retain reasonable records regarding the Market Rate on a per transaction basis. For the avoidance of doubt, upon each withdrawal, Purchaser shall be deemed to have purchased the XRP from Company, and Purchaser’s obligation to repay the withdrawn XRP to Company on the applicable Maturity Date shall terminate.
Sample 1
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Withdrawal of XRP. (i) Purchaser purchases Committed XRP from Company by withdrawing such Committed XRP from the Bailment Account. Each withdrawal of Committed XRP shall be converted into a fiat purchase price (“Destination Currency”) based on Purchaser’s acceptance of a mutually agreed upon rate quote (“Market Rate”) provided by Company’s hosted service (“On-Demand Liquidity”).
Sample 1
Withdrawal of XRP. For the purposes of this Agreement, Company shall provide Purchaser with exclusive access and control over a node on the Company’s RippleNet system (“RippleNet Node”) and Purchaser agrees that all withdrawals of XRP from the Bailment Account shall be made via Purchaser’s RippleNet Node. Purchaser utilises its RippleNet Node to purchase XRP for USD from the Bailment Account. Such purchase shall occur at an XRP/USD spot price provided by RippleNet, which is ultimately derived from a mutually agreed upon rate quote (“Market Rate”). Purchaser is deemed to have purchased Committed XRP from Company when such Committed XRP is withdrawn from the Bailment Account through use of its RippleNet Node. If Purchaser withdraws XRP from the Bailment Account without utilising its RippleNet Node, Purchaser is deemed to have purchased the Committed XRP at the USD/XRP Breach Price provided in Section 3(o) as of the time of such withdrawal (“Withdrawal Breach Price”), provided that, for any withdrawal that does not utilise the RippleNet Node, the Withdrawal Breach Price shall be reduced to the prevailing USD/XRP spot rate as of the time of the withdrawal, as determined by Company at its reasonable discretion, if: (1) the withdrawal from the Bailment Account was unintentional, (2) the Purchaser provides Company notice of such withdrawal within 72 hours via email to bxxxxxx@xxxxxx.xxx, including the date and time of the withdrawal, the XRP ledger transaction hash, address of the destination wallet, and the number of XRP withdrawn, and (3) there has not been more than two other such unintentional withdrawals during the calendar year. Company shall retain reasonable records regarding the Market Rate on a per transaction basis. For the avoidance of doubt, upon each withdrawal, Purchaser shall be deemed to have purchased the XRP from Company, and Purchaser’s obligation to repay the withdrawn XRP to Company on the applicable Maturity Date shall terminate. Addendum to Commitment to Sell AgreementPage 1 of 4
Sample 1

Related to Withdrawal of XRP

  • Withdrawal of a Member For purposes of this Agreement, a “Withdrawn Member” is a member who is bankrupt, has resigned, or has retired (a “Withdrawal Event”). Upon a Withdrawal Event, the Withdrawn Member or any successor in interest to the Withdrawn Member shall become an Assignee of the Withdrawn Member’s Membership Interest in the Company.

  • Withdrawal of Member Notwithstanding anything to the contrary herein, the Member shall not withdraw as a member of the Company, and no event set forth in Section 5.4 shall cause or be deemed to cause the withdrawal of the Member from the Company. Any purported withdrawal by the Member shall be null and void.

  • Withdrawal of Members (a) Any Member may Withdraw voluntarily from the Company on the last day of any calendar month (or on such other date as shall be determined by the Managing Member in its sole discretion), on not less than 15 days’ prior written notice by such Member to the Managing Member (or on such shorter notice period as may be mutually agreed upon between such Member and the Managing Member); provided, that a Member may not voluntarily Withdraw without the consent of the Managing Member if such Withdrawal would (i) cause the Company to be in default under any of its contractual obligations or (ii) in the reasonable judgment of the Managing Member, have a material adverse effect on the Company or its business; provided further, that a Member may Withdraw from the Company with respect to such Member’s GP-Related Member Interest without Withdrawing from the Company with respect to such Member’s Capital Commitment Member Interest, and a Member may Withdraw from the Company with respect to such Member’s Capital Commitment Member Interest without Withdrawing from the Company with respect to such Member’s GP-Related Member Interest.

  • Withdrawal of Partners (a) Any Partner may Withdraw voluntarily from the Partnership subject to the prior written consent of the General Partner, including if such Withdrawal would (i) cause the Partnership to be in default under any of its contractual obligations or (ii) in the reasonable judgment of the General Partner, have a material adverse effect on the Partnership or its business. Without limiting the foregoing sentence, the General Partner generally intends to permit voluntary Withdrawals on the last day of any calendar month (or on such other date as shall be determined by the General Partner in its sole discretion), on not less than 15 days’ prior written notice by such Partner to the General Partner (or on such shorter notice period as may be mutually agreed upon between such Partner and the General Partner); provided, that a Partner may Withdraw from the Partnership with respect to such Partner’s GP-Related Partner Interest without Withdrawing from the Partnership with respect to such Partner’s Capital Commitment Partner Interest, and a Partner may Withdraw from the Partnership with respect to such Partner’s Capital Commitment Partner Interest without Withdrawing from the Partnership with respect to such Partner’s GP-Related Partner Interest.

  • Withdrawal of Deposits If any Deposits remain outstanding on the Business Day next succeeding the Cut-off Date, the Trustee shall promptly give the Escrow Agent notice that the Trustee’s obligation to purchase Equipment Notes under the NPA has terminated and instruct the Escrow Agent to provide a notice of Final Withdrawal to the Depositary substantially in the form of Exhibit B to the Deposit Agreement (the “Final Withdrawal Notice”).

  • Withdrawal of General Partner (a) The General Partner may not Withdraw (other than as a result of an Involuntary Withdrawal) without the Consent of the Special Limited Partner. Withdrawal shall be conditioned upon the agreement of the Special Limited Partner to be admitted as a successor General Partner, or if the Special Limited Partner declines to be admitted as a successor General Partner then on the agreement of one or more Persons who satisfy the requirements of Section 13.5 of this Agreement to be admitted as successor General Partner(s).

  • Withdrawal of Limited Partner No Limited Partner may withdraw from the Partnership other than as a result of a permitted transfer of all of such Limited Partner’s Partnership Units in accordance with this Article XI or pursuant to redemption of all of its Partnership Units under Section 8.6.

  • Withdrawal of Stop Orders If the Shelf Registration ceases to be effective for any reason at any time during the Effectiveness Period (other than because of the sale of all of the securities registered thereunder), the Company shall use its best efforts to obtain the prompt withdrawal of any order suspending the effectiveness thereof.

  • Withdrawal Right Notwithstanding anything to the contrary contained in (and without limiting any similar provisions of) the Transaction Documents, whenever any Buyer exercises a right, election, demand or option under a Transaction Document and the Company or any Subsidiary does not timely perform its related obligations within the periods therein provided, then such Buyer may rescind or withdraw, in its sole discretion from time to time upon written notice to the Company or such Subsidiary (as the case may be), any relevant notice, demand or election in whole or in part without prejudice to its future actions and rights.

  • Withdrawal of Offering The Trust/IC reserves the right at any time to withdraw all offerings of any or all Shares by written notice to ACC at its principal office. No Shares shall be offered by either ACC or the Trust/IC under any provisions of this Agreement and no orders for the purchase or sale of Shares hereunder shall be accepted by the Trust/IC if and so long as effectiveness of the Registration Statement then in effect or any necessary amendments thereto shall be suspended under any provisions of the 1933 Act, or if and so long as a current prospectus as required by Section 5(b)(2) of the 1933 Act is not on file with the SEC.

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