Applicable Customer Assets definition
Applicable Customer Assets means all of Customer’s right, title and interest in, to, or under (i) a Customer Account; and (ii) any Cash, Digital Assets, and other financial assets which may from time to time be credited, held or carried in a Customer Account, or that is due to Customer from, or that is delivered to or in the possession or control of, G1 or any of G1’s agents, and all security entitlements with respect to any of the foregoing; (iii) any Contract or Transaction (including without limitation any amounts payable by G1 to Customer upon the termination, acceleration, liquidation or close-out of such Contract, after giving effect to any netting, offset or recoupment thereunder); and (iv) all income and profits on any of the foregoing, all dividends, interest and other payments and distributions with respect to any of the foregoing, all other rights and privileges appurtenant to any of the foregoing, and any substitutions for any of the foregoing and any proceeds of any of the foregoing, in each case whether now existing or hereafter arising (together with the accounts in which such property and financial assets are held).
Examples of Applicable Customer Assets in a sentence
With respect to any Taxes attributable to Customer that are required to be remitted by G1 to any Governmental Authority, G1 shall be authorized to debit or deduct the required amount from the Applicable Customer Assets pursuant to Section VIII.A.2 of this Agreement.
You acknowledge and agree that the Applicable Customer Assets and any other Collateral consisting of Digital Assets are of a type customarily sold on a recognized market, subject to standard price quotations and may decline speedily in value.