Company: TOXR
Filing Date: 2025-10-10
Form Type: S-1/A
Source: 0001213900-25-098141
Chunk: 168

Company: 21Shares XRP ETF
Filing Date: 2025-10-10
Form: S-1/A
Chunk 168
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 the Custodial Services
Agreement, the XRP Custodian’s liability is limited as follows, among others: (i) other than with respect to claims and losses
arising from spot trading of XRP, or fraud or willful misconduct, among others, the XRP Custodian’s aggregate liability under the
Custodial Services Agreement shall not exceed the greater of (A) the greater of (x) $5 million and (y) the aggregate
fees paid by the Trust to the XRP Custodian in the 12 months prior to the event giving rise to the XRP Custodian’s liability,
and (B) the value of the affected XRP or cash giving rise to the XRP Custodian’s liability; (ii) the XRP Custodian’s
aggregate liability in respect of each cold storage address shall not exceed $100 million; (iii) in respect of the XRP Custodian’s
obligations to indemnify the Trust and its affiliates against third party claims and losses to the extent arising out of or relating
to, among others, the XRP Custodian’s Mutually Capped Liabilities, the XRP Custodian’s liability shall not exceed the greater
of (A) $5 million and (B) the aggregate fees paid by the Trust to the XRP Custodian in the 12 months prior to the
event giving rise to the XRP Custodian’s liability; and (iv) in respect of any incidental, indirect, special, punitive, consequential
or similar losses, the XRP Custodian is not liable, even if the XRP Custodian has been advised of or knew or should have known of the
possibility thereof. In general, the XRP Custodian is not liable under the Custodial Services Agreement unless in the event of its negligence,
fraud, material violation of applicable law or willful misconduct. The XRP Custodian is not liable for delays, suspension of operations,
failure in performance, or interruption of service to the extent it is directly due to a cause or condition beyond the reasonable control
of the XRP Custodian. In the event of potential losses incurred by the Trust as a result of the XRP Custodian losing control of the Trust’s
XRP or failing to properly execute instructions on behalf of the Trust, the XRP Custodian’s liability with respect to the Trust
will be subject to certain limitations which may allow it to avoid liability for potential losses or may be insufficient to cover the
value of such