Communications Capability. The Authorized Participant and its Designee has the capability to send and receive authenticated communications to and from (i) the Administrator, (ii) any Prime Broker (as defined in the Prospectus) utilized in connection with an Order, (iii) any custodian responsible for establishing and maintaining cash accounts (the “Cash Custodian”) and any custodian responsible for safekeeping Solana or other Digital Assets, including any subcustodian thereto, for each Fund (the “Digital Asset Custodian”), and (iv) the Authorized Participant’s or applicable Designee’s custodian. The Authorized Participant shall confirm such capability to the reasonable satisfaction of the Administrator, Prime Broker (as applicable), the Cash Custodian, and the Digital Asset Custodian prior to placing its first order with the Administrator (whether it is a Purchase Order or a Redemption Order).
Appears in 1 contract
Sources: Authorized Participant Agreement (Franklin Solana Trust)
Communications Capability. The Authorized Participant and its Designee has the capability to send and receive authenticated communications to and from (i) the Administrator, (ii) any Prime Broker (as defined in the Prospectus) utilized in connection with an Order, (iii) any custodian responsible for establishing and maintaining cash accounts (the “Cash Custodian”) and any custodian responsible for safekeeping Solana XRP or other Digital Assets, including any subcustodian thereto, for each Fund (the “Digital Asset Custodian”), and (iv) the Authorized Participant’s or applicable Designee’s custodian. The Authorized Participant shall confirm such capability to the reasonable satisfaction of the Administrator, Prime Broker (as applicable), the Cash Custodian, and the Digital Asset Custodian prior to placing its first order with the Administrator (whether it is a Purchase Order or a Redemption Order).
Appears in 1 contract
Sources: Authorized Participant Agreement (Franklin XRP Trust)