Lost Tokens Sample Clauses

Lost Tokens. If Securrency receives written notice from a Token holder of a lost Token incident, Securrency will promptly freeze the Tokens held in such Token holder’s Wallet and restrict the Tokens therein for transfer. Securrency will maintain the transfer restriction in such Token holder’s Wallet until such Token holder submits an Affidavit of Loss and Agreement of Indemnity (the “Affidavit,” attached hereto as Appendix A), and Securrency approves the Affidavit. Then, Securrency will generate a new Wallet registered to such Token holder, burn the lost Tokens, and issue replacement Tokens to the new Wallet. As a condition for generating a new Wallet, Securrency may request such Token holder to apply for a surety bond listing Securrency as an obligee. If applicable, Securrency may receive compensation, including in the form of commissions, for services provided in connection with surety programs offered to Token holders.

Lost Tokens. If the Transfer Agent receives an Affidavit of Loss and Agreement of Indemnity (the “Affidavit,” attached hereto as Appendix A), and the Transfer Agent approves the Affidavit, then, the Transfer Agent will generate a new Token registered to such Token Holder, burn the lost Tokens, and issue replacement Tokens to the new Wallet.

Lost Tokens. If the Transfer Agent receives written notice from a Token holder of a lost Token incident, the Transfer Agent will promptly freeze the Tokens held in such Token holder’s Wallet and restrict the Tokens therein for transfer. the Transfer Agent will maintain the transfer restriction in such Token holder’s Wallet until such Token holder submits an Affidavit of Loss and Agreement of Indemnity (the “Affidavit,” attached hereto as Appendix A), and the Transfer Agent approves the Affidavit, as may be revised from time to time. Then, the Transfer Agent will generate a new Wallet registered to such Token holder, burn the lost Tokens, and issue replacement Tokens to the new Wallet. As a condition for generating a new Wallet, the Transfer Agent may request such Token holder to apply for a surety bond listing the Transfer Agent as an obligee. If applicable, the Transfer Agent may receive compensation, including in the form of commissions, for services provided in connection with surety programs offered to Token holders.