Examples of Crypto Custodian Wallet in a sentence
On or about the Issue Date, the Grantor shall enter into an agreement, in form and substance satisfactory to the Secured Party, among the Secured Party, the Crypto Custodian and the Grantor, and any additional parties, which agreement shall be effective to grant to the Secured Party control over the Crypto Custodian Wallet.
The Crypto Custodian shall maintain the Crypto Custodian Wallet in accordance with the terms of the Custodial Services Agreement to the extent such terms do not conflict with the terms of this Agreement, and to the extent that any such terms do conflict, the terms of this Agreement shall govern and shall over-ride the terms of the Custodial Services Agreement.
The Crypto Custodian hereby acknowledges that it has been advised of the Issuer’s grant to the Collateral Trustee of a security interest in the Crypto Custodian Wallet, including all assets held in or credited to the Crypto Custodian Wallet from time to time.
The Issuer reserves the right to redact certain provisions related to the procedures of repossessing the Crypto Custodian Wallet by the Collateral Trustee from the copy of the Crypto Custodian Wallet Control Agreement for security reasons.
The Crypto Custodian Wallet shall be titled in the name of the Issuer as the entitlement holder and shall identify the Collateral Trustee as the secured party thereof.
All property delivered to the Crypto Custodian by or on behalf of the Issuer will be promptly credited to the Crypto Custodian Wallet by the Crypto Custodian.
For the avoidance of doubt, absent negligence, willful misconduct or bad faith, the Crypto Custodian, in its capacity as crypto custodian, shall have no responsibility or liability to the Collateral Trustee for complying with a Notice of Exclusive Control or complying with instructions concerning the Crypto Custodian Wallet originated by the Collateral Trustee.
In the event of a termination of this Agreement prior to the termination of the Collateral Trustee’s security interest in the Collateral and the Crypto Custodian Wallet, all assets of the Issuer held in the Crypto Custodian Wallet shall be transferred out of the Crypto Custodian Wallet to a successor custodian specified by the Issuer.
Upon receipt by the Crypto Custodian of such notice, the Collateral Trustee shall have no further right to originate instructions concerning the Crypto Custodian Wallet and the Issuer shall be entitled to originate instructions concerning the Crypto Custodian Wallet for any purpose and without limitation except as may be provided in the Custodial Services Agreement.
Upon receipt of any interest or dividends in cash, or any other asset that constitutes proceeds with respect to Collateral, the Crypto Custodian will credit such proceeds to the Crypto Custodian Wallet no later than the next Business Day.