Custodial Relationship Clause Samples

Custodial Relationship. (a) Account Holder shall use Xapo’s Services to request the establishment, and Xapo shall thereby establish and maintain a Xapo wallet account (the “Wallet”) and vault account (the “Vault,” and together with the Wallet and any subaccounts associated therewith, the “Account”) in the name of Account Holder. (b) Xapo hereby acknowledges and agrees that it is a custodian of the bitcoins stored by Account Holder in the Account, and that Xapo has no right, interest, or title in such Custodial Coins. Xapo further represents that it does not engage in any fractional reserve banking and, as such, none of the Custodial Coins will be used by Xapo in connection with any loan, hypothecation, Lien or claim of (or by) Xapo or otherwise transferred or pledged to any third party. Xapo hereby confirms that the Custodial Coins do not constitute an asset on the balance sheet of Xapo and that the Custodial Coins will at all times be identifiable in Xapo’s database as being stored in the Account on behalf of Account Holder.

Custodial Relationship. VENDOR shall have full custodial responsibility for SANOFI’s Library of Compounds, Related Data, and SANOFI R&D Equipment Assets unless otherwise terminated under Section 5 of this Exhibit B.

Custodial Relationship. Due to safety reasons, the Private Keys to your Cryptocurrencies are stored in the Paper Wallets held by FUMBI Network. The Paper Wallets represent one of the safest means for storage of the Private Keys. FUMBI Network will hold custody of the Paper Wallets and store them in secured vaults. FUMBI Network hereby acknowledges and agrees that it is a custodian of the Paper Wallets and FUMBI Network has no right, interest, or title in the Private Keys and/or the User’s Cryptocurrencies. FUMBI Network hereby further confirms that the User’s Cryptocurrencies do not constitute an asset on the balance sheet of FUMBI Network and that the User’s Cryptocurrencies will at all times be identifiable in FUMBI Network’s database as being stored for the User.

Custodial Relationship. In holding the Project files or copies thereof, the PAE shall act as custodian for, and for the benefit of, the Director.

Custodial Relationship. (a) Client hereby appoints Custodian as its custodian, and ▇▇▇▇▇▇▇▇▇ hereby accepts that appointment. All Custodied Assets of Client delivered to Custodian or its agents will be held by Custodian in trust for the benefit of Client, as provided in this Agreement. The duties of Custodian with respect to the Custodied Assets will only be as set forth expressly in this Agreement, which duties are generally comprised of receiving and holding Custodied Assets for safekeeping for the benefit of Client, delivering Custodied Assets to Client in accordance with Instructions, and performing various administrative duties in accordance with Instructions and as reasonably required to effect Instructions. For the avoidance of doubt, Custodian may not transfer the Custodied Assets except as directed by Client in accordance with Instructions, as reasonably required to effect Instructions or as otherwise set forth in this Agreement. (b) Custodian hereby acknowledges and agrees that it is a custodian of the Custodied Assets stored in the Account, such Custodied Assets are held by Custodian in trust for the ​ ​ benefit of Client, and that Custodian has no right, interest, or title in those Custodied Assets. Custodian hereby confirms that the Custodied Assets do not constitute an asset on the balance sheet of Custodian and that the Custodied Assets will at all times be identifiable in Custodian’s database as being stored in the Account for the benefit of Client. (c) Custodian will establish and maintain a Digital Asset Account. (d) With respect to Services for digital assets, Custodian will provide Services to Client only for digital assets deemed to be Eligible Assets by Custodian according to its Digital Asset Framework Policy, as set forth in the Term Sheet. Custodian will notify Client of any changes to the list of Eligible Assets. (e) Custodian will use its commercially reasonable judgment to determine which post-fork digital asset is the same as the pre-fork digital asset. (f) Client acknowledges that it may not immediately or ever have the ability to withdraw a Forked or Airdropped Asset. Unless and until a Forked or Airdropped Asset is deemed an Eligible Asset and reflected on Client’s customer account statement as a Custodied Digital Asset, Custodian has no obligation to safeguard or provide any other Services for such asset. (g) Custodian will hold Client’s cash in the Cash Account. Custodian intends for Client to benefit from FDIC deposit insurance on a pass-through...

Custodial Relationship. (a) Custodian is authorized to appoint any nominees, agents or sub custodians, whether in its own name or that of Client, to perform any of the duties of the Custodian under this Agreement. Any reference in this Agreement to the Custodian shall, where the context so requires, include its nominees, agents or sub appointed by the Custodian on its behalf. (b) Client shall use Custodian’s Services to request the establishment of, and Custodian shall thereby establish and maintain, one or more Accounts as a custodian for the benefit of the Client or in the Client’s name for the benefit of the Account Holder. Client pledges to Custodian as security for its obligations hereunder a first priority security interest in and lien on the Account and the Custodial Coins held therein and the proceeds thereon. (c) Client hereby acknowledges that it has in place an administration agreement with [__________________________________________________] pursuant to which Client has conferred certain rights to [________________________________________________] to act as an administrator of the Account and to direct Custodian to perform certain acts with respect to the Account, as enumerated in the administration agreement, including serving as an Authorized Person of the Account. (d) Custodian hereby acknowledges and agrees that it is a custodian of the Custodial Coins stored in the Account, and any fiat currency stored in a Fiat Account, and that Custodian has no right, interest, or title in such Custodial Coins or Fiat Account other than the security interest conveyed in Section 2(b) above. Custodian hereby confirms that the Custodial Coins and any fiat currency do not constitute an asset on the balance sheet of Custodian and that the Custodial Coins and Fiat Account will at all times be identifiable in Custodian’s database as being stored in the Account on behalf of Client or Account Holder.