Authorized Participant Client definition

Authorized Participant Client means any party on whose behalf the Authorized Participant acts in connection with an Order (whether a customer or otherwise).
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Authorized Participant Client has the meaning given in the recitals to this Agreement.
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Authorized Participant Client means any party other than an Authorized Participant that is designated by such Authorized Participant to deliver and/or receive bitcoin in connection with an in-kind Purchase Order or an in-kind Redemption Order pursuant to an Authorized Participant Agreement between the Authorized Participant and the Trust.
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Examples of Authorized Participant Client in a sentence

  • The Authorized Participant confirms that any Authorized Participant Client has been successfully onboarded and processed through the Authorized Participant’s own Sanctions Laws compliance program.

  • The Authorized Participant represents, covenants, and warrants that the Authorized Participant Client shall ensure that any Delivery of ether to the Trust performed by the Authorized Participant Client shall not be directly or indirectly derived from, invested for the benefit of or related in any way to, persons, entities or jurisdictions that are subject to any country embargoes, in violation of any Sanctions Laws or on any Sanctions Lists.

  • Authorized Participant confirms that the Authorized Participant Client acknowledges that due to the Bank Secrecy Act and other applicable AML Laws and Sanctions Laws, the Trust, Sponsor, Administrative Trustee, or their affiliates or service providers may require further documentation verifying the Authorized Participant Client's identity.

  • The Authorized Participant confirms that any Authorized Participant Client has been successfully onboarded and processed through the Authorized Participant’s own Bank Secrecy Act compliance program, including the Authorized Participant’s customer due diligence, KYC and customer identification procedures.

  • The Administrative Trustee may, in its sole discretion, permit or require the substitution of an amount of cash to be added to the Cash Component to replace all ether that the Authorized Participant Client would otherwise have had to Deliver in connection with a Purchase Order.

  • None of the Sponsor, the Administrative Trustee, the Trust, the Delaware Trustee, the Prime Execution Agent, nor any other person shall be liable hereunder to any Agent or Authorized Participant Client in connection with a Delayed Settlement Scenario.

  • Authorized Participants wishing to redeem one or more Baskets (whether as principal or on an agency basis on behalf of an Authorized Participant Client) shall place a Redemption Order with BRIL on any Business Day; provided, however, that only Redemption Orders received by BRIL prior to the Order Cutoff Time on a Business Day shall have such Business Day as the Order Date unless there is an early Order Cutoff Time on the business day prior to the trade date.

  • The Authorized Participant confirms the Authorized Participant Client has formed a reasonable belief that no part of the digital assets it is transferring to the Trust are derived from, held for the benefit of, or related in any way to transactions with or on behalf of any person on any Sanctions Lists or located, organized or doing business in a country or territory that is, or whose government is, the target of embargo or countrywide sanctions under any Sanctions Laws.

  • On settlement date for an in-kind redemption, the Trust delivers ether to the account of the Authorized Participant Client at the Prime Execution Agent in exchange for Shares received from the Authorized Participant.

  • The Authorized Participant confirms that it and each Authorized Participant Client comply with all AML Laws, and the Authorized Participant agrees and acknowledges that it shall be responsible to the Trust, Sponsor, and Administrative Trustee for any breach of this provision by the Authorized Participant or Authorized Participant Client.