Relationship with Coinbase Custody Sample Clauses
The 'Relationship with Coinbase Custody' clause defines the terms governing how the parties interact with Coinbase Custody as a third-party service provider for digital asset storage. It typically outlines the responsibilities and rights of each party regarding the use of Coinbase Custody, such as account access, instructions for asset transfers, and the handling of fees or liabilities arising from the custody arrangement. This clause ensures that all parties understand their roles and obligations in relation to Coinbase Custody, thereby reducing the risk of disputes and clarifying the management of digital assets held in custody.
Relationship with Coinbase Custody. To facilitate the Trading Services with respect to the Trading Account, Coinbase may at its sole discretion maintain portions of the Omnibus Hot Wallet and the Omnibus Cold Wallet in one or more custodial accounts with its affiliate, Coinbase Custody, in the name of Coinbase for the benefit of its clients. In such circumstances, although the Omnibus Hot Wallet and the Omnibus Cold Wallet are held in Coinbase’s accounts at Coinbase Custody for the benefit of its clients, Client’s legal relationship for purposes of Digital Assets held in the Omnibus Hot Wallet and the Omnibus Cold Wallet will not be, directly or indirectly, with Coinbase Custody and the terms, conditions, and agreements relating to those wallets are to be governed by this MTA.