Common use of Use of the Custodial Services Clause in Contracts

Use of the Custodial Services. Client acknowledges and agrees that Coinbase Custody may monitor use of the Custodial Account and the Custodial Services and the resulting information may be utilized, reviewed, retained and or disclosed by Coinbase Custody for its internal purposes or in accordance with the rules of any applicable legal, regulatory or self-regulatory organization or as otherwise may be required to comply with relevant law, sanctions programs, legal process or government request. 2.6 Independent Verification If Client is subject to Rule 206(4)-2 under the Investment Advisers Act of 1940, or otherwise is required to provide audited financial statements or other verification of Client’s Digital Assets, then Coinbase Custody shall, upon written request, provide Client, Client’s authorized representative, or Client’s authorized independent public accountant confirmation of or access to information sufficient to confirm (i) Client’s Digital Assets as of the date of an examination conducted pursuant to Rule 206(4)-2(a)(4) or other applicable law, rule, or requirement), and (ii) Client’s Digital Assets are held either in a separate account under Client’s name or in accounts under Client’s name as agent or trustee for Client’s clients. Upon reasonable request of the Client and no more than once per calendar year, Coinbase Custody shall provide the Client with a copy of the Custodian’s Service Organizational Control (SOC) 1 and 2 reports prepared in accordance with the requirements of AT section 801, Reporting on Controls at a Service Organization or other information necessary to verify that satisfactory internal control systems and procedures are in place. 2.7