Common use of Custody Accounts Clause in Contracts

Custody Accounts. The Client authorizes, approves and directs the Custodian to establish and maintain on its books, in the name of the Client as the entitlement holder, pursuant to the terms of this Agreement the following accounts, and ▇▇▇▇▇▇▇▇▇ agrees to act as custodian of Client’s assets held in such accounts subject to the provisions of this Agreement: i. one or more custody accounts for the receipt, safekeeping and maintenance of Eligible Assets (each a “Digital Asset Custody Account”); and ii. one or more cash accounts (each a “Cash Custody Account”, and, together with the Digital Asset Custody Accounts, the “Custody Account”), each corresponding to a Digital Asset Custody Account, to hold cash and monies received for deposit for the account of the Client (“Cash”) in accordance with the terms of this Agreement.