Common use of The Custodian Clause in Contracts

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branchhas, as Custodian of the date of the Deposit Agreement, appointed Citibank Europe plc as custodian and agent of the Depositary for the purpose of the Deposit Agreement. The Custodian or its successors Custodians in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is The Custodians may resign and be discharged from its their duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian which shall require such resigning or discharged thereafter be Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, that it is appropriate in the best interest of the Holders of ADSs to do so, it may appoint a substitute or an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect hereunder. Upon demand of the Depositary the Custodian shall deliver such of the Deposited Securities held by it as are requested of it to any other Custodian or such substitute or additional custodian or custodians. Each such substitute or additional custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Mumbai Branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of the Republic of India. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsADRs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon the request or with the approval of the Company, London Branchmay from time to time (and shall, as promptly as practicable, whenever there be no Custodian hereunder) appoint one or more agents to act for it as Custodian hereunder. Each Custodian so appointed (other than JPMorgan Chase Bank) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge the Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of the United Kingdom. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shallat least 30 days prior to the date on which such resignation is to become effective. The Depositary, in consultation with notice to the Company, shall, as promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliveras practicable after receiving notice of the resignation of the Custodian, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder with respect hereunder. Whenever the Depositary in its discretion determines that it is in the best interest of the Owners to do so, it may appoint a substitute custodian, which shall thereafter be the Custodian hereunder, subject to the Deposited Securitiesreceipt of any required approvals of the Brazilian National Securities Commission. Immediately upon any such changeUpon demand of the Depositary, the Depositary Custodian shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian deliver such of the Deposited Securities pursuant held by it as are requested of it to such substitute custodian. A substitute custodian shall deliver to the Deposit AgreementDepositary, forthwith upon its appointment, an acceptance of such appointment satisfactory in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant form and substance to the Deposit AgreementDepositary. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary At no time shall not there be obligated to give notice to the Company, any Holders of ADSs or any other more than one Custodian of its acting as Custodian pursuant to the in connection with this Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citibank Hong Kong as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankThe Mitsui Bank, N.A.Limited and/or The Fuji Bank, London BranchLimited, as Custodian Custodians and agents of the Depositary for the purpose purposes of the this Deposit Agreement. The A Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any A Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other the Depositary at least 30 days prior to the date on which such resignation is to become effective. Unless there remains a Custodian has previously been appointed hereunderafter such resignation, the Depositary shall, promptly after receiving such notice, and after consultation with notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder. Whenever the Depositary in its discretion determines that it is in the best interest of the holders of Receipts to do so, it may upon prior consultation with the Company appoint a substitute custodian, which, together with any remaining custodian hereunder, shall thereafter be the Custodian hereunder with respect and upon demand of the Depositary any previous custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders record holders of ADSsAmerican Depositary Receipts and each Subdepositary and shall publish notice thereof, each other Custodian and the Company. Citibank may at all as provided in Section 7.04, without any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice cost to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Santander Investment S.A. as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, shall promptly with notice to the Company, promptly reasonable consent of the Company appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may with the reasonable consent of the Company appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank Citibank, N.A. may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank Citibank, N.A. solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of anything contained in the Deposit Agreement or any ADR(s) to the contraryADR, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Societe Generale as Custodian custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary , after consultation with the Company, which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, that it is appropriate in the best interest of the Holders of Receipts to do so, it may appoint a substitute or an additional custodian custodian, after consultation with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodianCompany, which shall thereafter be Custodian hereunder with respect hereunder. Upon demand of the Depositary, the Custodian shall deliver such of the Deposited Securities held by it as are requested of it to any other Custodian or such substitute or additional custodian or custodians. Each such substitute or additional custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. - Mumbai Branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of the Republic of India. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint appoint, upon notice to the Company, a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.after consultation with the Issuer, London Branchmay from time to time appoint an agent, as permitted by Brazilian law and any other applicable laws or regulations, to act for it as Custodian for the purpose of the Deposit Agreementhereunder. The Custodian or its successors in acting hereunder successor shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunderthe Depositary at least 30 days prior to the date on which such resignation is to become effective. Upon receiving notice of the Custodian’s resignation, the Depositary shall, promptly after receiving such notice, and after consultation with notice to the CompanyIssuer, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder with respect to the Deposited Securitieshereunder. Immediately upon any such change, Whenever the Depositary in its discretion determines that it is in the best interest of the Owners to do so, it may, after consultation with the Issuer, appoint a substitute custodian, which shall give notice thereof in writing to all Holders thereafter be the Custodian hereunder. Upon demand of ADSs, each other the Depositary the Custodian and the Company. Citibank may at any time act as Custodian shall deliver such of the Deposited Securities pursuant or evidence of ownership and title of the Deposited Securities held by it as are requested of it to such substitute custodian. The substitute custodian shall deliver to the Deposit AgreementDepositary and the Issuer, forthwith upon its appointment, an acceptance of such appointment satisfactory in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant form and substance to the Deposit AgreementDepositary and the Issuer. Notwithstanding any other provision of The Depositary agrees with the Deposit Agreement or any ADR(s) to the contrary, the Depositary Issuer that at no time shall not there be obligated to give notice to the Company, any Holders of ADSs or any other more than one Custodian of its acting as Custodian pursuant to the in connection with this Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Mumbai Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of India. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors successor, which shall be an accredited intermediary acting through a specified office located in São Paulo, in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least 30 days prior to the date on which such resignation is to become effective. If the Depositary receives notice of the resignation of the Custodian and, upon the effectiveness of such resignation there would be no other Custodian has previously been appointed acting hereunder, the Depositary shall, promptly after receiving such notice, after consultation with notice the Company to the Companyextent practicable, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall be an accredited intermediary acting through a specified office located in São Paulo and which shall thereafter be the Custodian hereunder hereunder. The Depositary in its discretion, after consultation with the Company to the extent practicable, may appoint a substitute custodian, which shall be an accredited intermediary acting through a specified office located in São Paulo, which shall thereafter be the Custodian hereunder. Upon demand of the Depositary, the Custodian shall transfer all Deposited Securities held by it and all other books and records maintained by it with respect to its function as the Deposited SecuritiesCustodian hereunder as are requested of it to the substitute custodian. Immediately The Depositary shall cause the substitute custodian, forthwith upon its appointment, to deliver to the Depositary an acceptance of such appointment in form and substance satisfactory to the Depositary. Promptly upon any such change, the Depositary shall give notice thereof in writing to all Holders the Company of ADSsthe name, each other Custodian the address and the Companyappointment of a Custodian not named in Receipts. Citibank may The Depositary agrees with the Company that at any no time act as shall there be more than one Custodian of the Deposited Securities pursuant to the Deposit Agreement, acting in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the connection with this Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder, but the successor depositary so appointed shall, nevertheless, on the written request of any Custodianthe Custodian or as required by Brazilian law, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.after consultation with the Issuer, London Branchmay from time to time appoint an agent, as permitted by Brazilian law and any other applicable laws or regulations, to act for it as Custodian for the purpose of the Deposit Agreementhereunder. The Custodian or its successors in acting hereunder successor shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least 30 days prior to the date on which such resignation is to become effective. If upon such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, promptly after receiving such notice, and after consultation with notice to the CompanyIssuer, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder with respect to the Deposited Securitieshereunder. Immediately upon any such change, Whenever the Depositary in its discretion determines that it is in the best interest of the Owners to do so, it may appoint a substitute custodian, which shall give notice thereof in writing to all Holders thereafter be the Custodian hereunder. Upon demand of ADSs, each other the Depositary the Custodian and the Company. Citibank may at any time act as Custodian shall deliver such of the Deposited Securities pursuant or evidence of ownership and title of the Deposited Securities held by it as are requested of it to such substitute custodian. The substitute custodian shall deliver to the Deposit AgreementDepositary and the Issuer, forthwith upon its appointment, an acceptance of such appointment satisfactory in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant form and substance to the Deposit AgreementDepositary and the Issuer. Notwithstanding any other provision of The Depositary agrees with the Deposit Agreement or any ADR(s) to the contrary, the Depositary Issuer that at no time shall not there be obligated to give notice to the Company, any Holders of ADSs or any other more than one Custodian of its acting as Custodian pursuant to the in connection with this Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary may appoint one or more agents to act as its Custodian hereunder. The Depositary has initially appointed Citibank, N.A., London Branch, ABSA Bank Limited as Custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian Depositary, and shall be responsible solely to it. If any Any Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least thirty (30) days prior to the date on which such resignation is to become effective. If upon the effectiveness of such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian or custodians, each of which shall require such resigning or discharged thereafter be a Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Owners to do so, it may appoint an substitute or additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodians, which shall thereafter be Custodian one of the Custodians hereunder with respect subject in each instance to the written approval of the Company. Upon demand of the Depositary any previous Custodian shall deliver the Deposited Securities. Immediately upon Securities held by it to any other Custodian or such change, substitute or additional custodian or custodians as the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Companyinstruct. Citibank may at any time act as Custodian of the Deposited Securities pursuant Each such substitute or additional custodian or custodians shall deliver to the Deposit AgreementDepositary, forthwith upon its appointment an acceptance of such appointment satisfactory in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant form and substance to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementDepositary. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction agent hereunder of the such successor depositary. The , and the appointment of such successor depositary shall in no way impair the authority of any Custodian hereunder; provided, however, that the successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Taipei Branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of the Republic of China. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citibank Europe plc as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Property for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities Property and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities Property held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities Property as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited SecuritiesProperty, or discharge the Custodian with respect to any Deposited Securities Property and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited SecuritiesProperty. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities Property pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of anything contained in the Deposit Agreement or any ADR(s) ADR to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities Property without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Hong Kong as Custodian and agent for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shallshall promptly, and after consultation with notice to the Company, promptly appoint a substitute custodiancustodian that is organized under the laws of Hong Kong. Such resignation of the Custodian shall take effect upon the appointment of a successor custodian and its acceptance of such appointment. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, after consultation with the Company (if such consultation is practicable in its discretionthe opinion of the Depositary), that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsADRs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities and agent of such successor depositary without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., N.A. London Branch, as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of England and Wales. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsADRs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankCitibank AG, N.A., London Branch, Frankfurt as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, after consultation with notice to the Company, promptly appoint a substitute custodiancustodian that is organized under the laws of Germany. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian entity to act as Custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citibank International Plc - Paris branch as Custodian for the purpose of the this ADS Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of The Republic of France. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, the Bank of Ireland as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder with respect hereunder. Whenever the Depositary in its discretion determines that it is in the best interest of the Holders of Receipts to do so, it may appoint a substitute custodian, which shall thereafter be the Custodian hereunder, and upon demand of the Depositary the previous Custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon Upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act Receipts as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity promptly as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreementpracticable. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citigroup Global Markets Deutschland AG as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Property for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities Property and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities Property held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities Property as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited SecuritiesProperty, or discharge the Custodian with respect to any Deposited Securities Property and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited SecuritiesProperty. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank Subject to applicable law, Citibank, N.A. may at any time act as Custodian of the Deposited Securities Property pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank Citibank, N.A. solely in its capacity as Custodian pursuant to the Deposit Agreement, and the Depositary shall promptly give notice thereof to the Company. Notwithstanding any other provision of anything contained in the Deposit Agreement or any ADR(s) to the contraryADR, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities Property without any further act or writing, writing and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. - Hong Kong Branch as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Banco Itau as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any the Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall promptly appoint a substitute custodian that is organized under the laws of Brazil. The Depositary shall, with upon prior written notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect may, upon prior written notice to any Deposited Securitiesthe Company, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any the Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Korea Securities Depository as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of Korea. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Banco Itau S.A as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of Brazil. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian substitute custodian designated by the Depositary. Whenever the Depositary determines, in its discretiondiscretion and after consultation with the Company, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citibank International Plc - Paris branch as Custodian for the purpose of the this ADW Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Warrants for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of The Republic of France. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsADWs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citicorp Nominees Pty Limited as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, promptly appoint a substitute custodiancustodian that is organized under the laws of Australia. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., its principal London Branch, office as the Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least 30 days prior to the date on which such resignation is to become effective. If upon such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian approved by the Issuer (such approval not to be unreasonably withheld) which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Owners to do so, it may appoint an a substitute or additional custodian with respect approved by the Issuer (such approval not to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodianbe unreasonably withheld), which shall thereafter be a Custodian hereunder with respect hereunder. Upon demand of the Depositary any previous Custodian shall deliver the Deposited Securities held by it to any other Custodian or substitute or additional custodian. Each such substitute or additional custodian shall deliver to the Deposited SecuritiesDepositary, forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary and the Issuer. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders Owners of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, (Taipei) as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodianqualified custodian that is organized under the laws of the Republic of China. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian substitute custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London BranchCitibank International Plc London, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, shall promptly appoint a substitute custodian with notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited SecuritiesSecurities with notice to the Company, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodian with notice to the Company, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank Citibank, N.A. may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank Citibank, N.A. solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of anything contained in the Deposit Agreement or any ADR(s) to the contraryADR, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, the principal Paris office of AXA Banque as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors successors, which shall be an accredited intermediary acting through a specified office located in France, in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any the Depositary receives notice of the resignation of the Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and and, upon the effectiveness of such resignation there would be no other Custodian has previously been appointed acting hereunder, the Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian or custodians, each of which shall be an accredited intermediary acting through a specified office located in France, and each of which shall thereafter be a Custodian hereunder. Whenever the Depositary in its discretion determines, after consultation with the Company to the extent practicable, that it is in the best interest of the Owners to do so it may appoint a substitute or additional custodian or custodians, which shall be an accredited intermediary acting through a specified office located in France, each of which shall thereafter be one of the Custodians hereunder. Upon demand of the Depositary, any Custodian shall transfer such of the Deposited Securities held by it and all other books and records maintained by it with respect to its function as a Custodian hereunder as are requested of it to any other Custodian or such substitute or additional custodian. The Depositary shall require such resigning cause each substitute or discharged Custodian additional custodian, forthwith upon its appointment, to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect deliver to such Deposited Securities as the Depositary may request, and the Company an acceptance of such appointment in form and substance satisfactory to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any each Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder, but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any CustodianCustodian or as required by French law, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Banco Itau S.A. as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of Brazil. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian substitute custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, State Street Bank as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of the United Kingdom. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed shall deliver to the purpose Depositary an acceptance of such appointment satisfactory in form and substance to the Deposit AgreementDepositary. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it, and the Depositary undertakes to procure compliance by each Custodian with the applicable provisions of this Deposit Agreement. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge the Custodian at any time upon notice to the Company, promptly appoint a substitute custodianCustodian being discharged. The Depositary shall require Depositary, after such resigning discharge or discharged Custodian to Deliverreceipt of such notice of resignation, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder. Any Custodian ceasing to act hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian shall deliver all Deposited Securities held by it to a Custodian continuing to act upon the instruction of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementDepositary. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon the request or with the approval of the Bank, London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed (other than the purpose of Bank) shall give notice in writing to the Deposit AgreementBank and the Depositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary may, and upon instructions from the Bank shall, with discharge the Custodian at any time upon notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as being discharged; provided that the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or not discharge the Custodian Bank acting in the capacity of Custodian. The Depositary, after such discharge or receipt of such notice of resignation, may, upon the request or with respect to any Deposited Securities and the approval of the Bank (which approval shall not be unreasonably withheld), appoint a substitute custodian, which shall thereafter be the Custodian hereunder. Any Custodian ceasing to act hereunder with respect as Custodian shall deliver all Deposited Securities held by it to a Custodian continuing to act upon the Deposited Securitiesinstruction of the Depositary. Immediately upon any such change, the The Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to the Deposit Agreement, in which case appointment of any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementCustodian. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, the principal Dublin office of the Bank of Ireland as Custodian custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, that it is appropriate in the best interest of the Holders to do so, it may appoint a substitute or an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect hereunder. Upon demand of the Depositary the Custodian shall deliver such of the Deposited Securities held by it as are requested of it to any other Custodian or such substitute or additional custodian or custodians. Each such substitute or additional custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementHolders. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank Citibank, N.A. may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank Citibank, N.A. solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of anything contained in the Deposit Agreement or any ADR(s) to the contraryADR, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Skandinaviska Enskilda Banken as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shallshall promptly , after consultation with notice the Company to the Companyextent reasonably practicable, promptly appoint a substitute custodiancustodian that is organized under the laws of Sweden. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may may, after consultation with the Company to the extent reasonably practicable, appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsADRs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. - Hong Kong branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, in consultation with notice to the Company, promptly appoint a substitute custodiancustodian that is organized under the laws of Hong Kong. Such resignation of the Custodian shall take effect upon the appointment of a successor custodian and its acceptance of such appointment. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. The Depositary shall use reasonable commercial efforts to ensure that at all times there is a Custodian hereunder. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian entity to act as Custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon Promptly after any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian The Depositary shall use its reasonable efforts to obtain from the substitute custodian an acceptance of the Deposited Securities pursuant such appointment satisfactory in form and substance to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementDepositary. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, writing and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. - Mumbai Branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of the Republic of India. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may may, upon notice to the Company, appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary may appoint one or more ------------- agents to act as its Custodian hereunder. The Depositary has initially appointed Citibank, N.A., London Branch, ICICI Limited as Custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian Depositary, and shall be responsible solely to it. If any Any Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least thirty (30) days prior to the date on which such resignation is to become effective. If upon the effectiveness of such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, with notice promptly after receiving such notice, appoint, subject to the Companywritten approval of the Company which shall not unreasonably withheld, promptly appoint a substitute custodian. The Depositary custodian that is organized under the laws of India and which shall require such resigning or discharged thereafter be a Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Registered Holders to do so, it may appoint an substitute or additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodians, which shall thereafter be Custodian one of the Custodians hereunder with respect subject in each instance to the written approval of the Company. Upon demand of the Depositary any previous Custodian shall deliver the Deposited Securities. Immediately upon Securities held by it to any other Custodian or such change, substitute or additional custodian or custodians as the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Companyinstruct. Citibank may at any time act as Custodian of the Deposited Securities pursuant Each such substitute or additional custodian or custodians shall deliver to the Deposit AgreementDepositary, forthwith upon its appointment an acceptance of such appointment satisfactory in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant form and substance to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementDepositary. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction agent hereunder of the such successor depositary. The , and the appointment of such successor depositary shall in no way impair the authority of any Custodian hereunder; provided, however, that the successor depositary so -------- ------- appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibankthe principal Mexico, N.A.D.F., London BranchMexico office of Nacional Financiera, S.N.C., as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for Depositary, subject to and in accordance with the Deposited Securities for which the Custodian acts as custodian applicable laws of Mexico, and shall be responsible solely to itit and the Depositary undertakes to procure compliance by the Custodian with the applicable provisions of the Deposit Agreement. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian that is organized under the laws of Mexico which shall require such resigning or discharged thereafter be a Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Holders to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, custodian which shall thereafter be the Custodian hereunder with respect hereunder. Upon demand of the Depositary the previous Custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementHolders. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London BranchBanco Inbursa S.A., as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to itit and shall have no obligations to any Owners or Beneficial Owners. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least thirty (30) days prior to the date on which such resignation is to become effective. If upon such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodiancustodian or custodians approved by the Company (such approval not to be unreasonably withheld), each of which shall thereafter be a Custodian hereunder. The Depositary in its discretion may appoint a substitute or additional custodian or custodians approved by the Company (such approval not to be unreasonably withheld), each of which shall require thereafter be one of the Custodians hereunder. Upon demand of the Depositary any Custodian shall deliver such resigning or discharged Custodian to Deliver, or cause the Delivery of, of the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect are requested of it to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant or such substitute or additional custodian or custodians. Each such substitute or additional custodian shall deliver to the Deposit AgreementDepositary, forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Upon the appointment of any successor depositaryDepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor Depositary and the appointment of such successor Depositary shall be subject to in no way impair the direction authority of the Custodian hereunder; but the successor depositary. The successor depositary Depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositary.

The Custodian. 14 18 The Depositary has initially appointed CitibankDepositary, N.A.upon the written request or with the written approval of the Company, London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed (other than The Bank of New York) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge any Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citibank Nominees Singapore Pte Ltd as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares, for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shallDepositary, with notice to the prior written consent of the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of Singapore. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretionwith the prior approval of the Company, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian 52 57 hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give prompt notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is authorized to act as custodian under the laws of Brazil. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. The Depositary shall use reasonable commercial efforts to ensure that at all times there is a Custodian hereunder. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian entity to act as Custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon After any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementHolders. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, writing and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, the Frankfurt/Main offices of Dresdner Bank AG and Deutsche Bank AG as Custodian custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The A Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is may resign and be discharged from its duties hereunder with respect by written notice of such resignation delivered to any Deposited Securities and the Depositary at least 30 days prior to the date on which such resignation is to become effective. If upon such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, shall with notice to the prior written consent of the Company, promptly after receiving such notice appoint a substitute custodian. The Depositary custodian that is organized under the laws of Germany which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, reasonable discretion determines that it is appropriate in the best interest of the Holders to do so, it may appoint an additional custodian discharge any Custodian hereunder and, with respect to any Deposited Securitiesthe prior written consent of the Company, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodian or appoint one or more additional custodians, each of which shall thereafter be a Custodian hereunder. Any Custodian ceasing to act as Custodian hereunder shall deliver all Deposited Securities held by it and all other books and records maintained by it with respect to its function as a Custodian hereunder to a Custodian continuing to act upon the Deposited Securitiesinstruction of the Depositary. Each substitute or additional custodian shall deliver to the Depositary, forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any to all Holders of ADSs or any and to each other Custodian of its acting as the name, the address and the appointment of any Custodian pursuant to not named in the Deposit AgreementReceipts. Upon the appointment of any successor depositaryDepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor Depositary and the appointment of such successor Depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary Depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.be

The Custodian. The Depositary has initially appointed Citibank, N.A., London BranchCitibank Mexico S.A., as Custodian of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least 60 days prior to the date on which such resignation is to become effective. If upon receipt of such notice of resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, with notice to promptly after receiving such notice, appoint a substitute Custodian approved by the Company, promptly appoint a substitute custodian. The Depositary such approval not to be unreasonably withheld, that is organized under the laws of the United Mexican States which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, that it is appropriate in the best interest of Holders to do so, it the Depositary may appoint an additional custodian with respect to discharge any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodianor, which if permitted by Mexican and other applicable law, an additional Custodian, who shall thereafter be a Custodian hereunder with respect hereunder. Forthwith upon its appointment, each such substitute or additional Custodian shall deliver to the Depositary an acceptance of such appointment satisfactory in form and substance to the Depositary. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited SecuritiesSecurities held by it to a Custodian continuing to act upon the instruction of the Depositary. Immediately The Depositary shall, immediately upon any such changechange in Custodian, the Depositary shall give notice thereof in writing to all Holders of ADSsthe name, each other Custodian location and the Company. Citibank may at appointment of any time act as Custodian of not named in the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositaryDepositary hereunder, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities shall forthwith become without any further act or writing, the agent hereunder of such successor Depositary and the appointment of such successor Depositary shall be subject to in no way impair the direction authority of any Custodian hereunder, but the successor depositary. The successor depositary Depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Banco Itau S.A. as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of Brazil. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its reasonable discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsADRs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon the written request or with the written approval of the Company, London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed (other than Deutsche Bank Trust Company Americas) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge any Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Grupo Financiero BBVA Bancomer S.A. as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to itit and the Depositary undertakes to procure compliance by the Custodian with the applicable provisions of this Deposit Agreement. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least thirty (30) days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian approved by the Company (such approval not to be unreasonably withheld), which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Holders to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodian approved by the Company (such approval not to be unreasonably withheld), which shall thereafter be the Custodian hereunder with respect hereunder, and upon demand of the Depositary the previous Custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment an acceptance of such appointment satisfactory in form and substance to the Depositary and the Company. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementHolders. Upon the appointment of any successor depositaryDepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor Depositary and the appointment of such successor Depositary shall be subject to in no way impair the direction authority of the Custodian hereunder; but the successor depositary. The successor depositary Depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citibank Distribuidora de Títulos e Valores Mobiliários S.A. as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, by notice of such resignation delivered to the Depositary shall, with notice at least 60 days prior to the Company, date on which such resignation is to become effective. The Depositary shall promptly appoint a substitute custodiancustodian that is organized under the laws of Brazil, which substitute custodian shall assume its duties hereunder on the effective date of the resignation of the Custodian hereunder. The Depositary hereby covenants and agrees that at no time shall there be more than one Custodian acting in connection with this Deposit Agreement. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any the Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, writing and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon the written request or with the written approval of the Company, London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed (other than JPMorgan Chase Bank) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge any at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the appointment of and the Company. Citibank may at name and location of any time act as Custodian of not named in the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositaryDepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor Depositary and the appointment of such successor Depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary Depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., its principal London Branch, office as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to itit and the Depositary undertakes to procure compliance by the Custodian with the applicable provisions of this Deposit Agreement. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to the Depositary at least thirty (30) days prior to the date on which such resignation is to become effective. The Depositary shall,If the Depositary receives notice that the Custodian will resign or for any Deposited Securities and no other Custodian has previously been appointed hereunderreason will cease to act as such, the Depositary shall, with notice to the Companyas promptly as practicable after receiving suchthat notice, promptly appoint a substitute custodian. The Depositary custodian approved by the Company (such approval not to be unreasonably withheld), which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Holders to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodian approved by the Company (such approval not to be unreasonably withheld), which shall thereafter be the Custodian hereunder with respect hereunder, and upon demand of the Depositary the previous Custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment an acceptance of such appointment satisfactory in form and substance to the Depositary and the Company. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementHolders. Upon the appointment of any successor depositaryDepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor Depositary and the appointment of such successor Depositary shall be subject to in no way impair the direction authority of the Custodian hereunder; but the successor depositary. The successor depositary Depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositary.

The Custodian. The Depositary has initially appointed CitibankNacional Financiera, N.A., London Branch, S.N.C. as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to itit and the Depositary undertakes to procure compliance by the Custodian with the applicable provisions of this Deposit Agreement. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least thirty (30) days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian approved by the Company (such approval not to be unreasonably withheld), which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Owners to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodian approved by the Company (such approval not to be unreasonably withheld), which shall thereafter be the Custodian hereunder with respect hereunder, and upon demand of the Depositary the previous Custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment an acceptance of such appointment satisfactory in form and substance to the Depositary and the Company. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementOwners. Upon the appointment of any successor depositaryDepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor Depositary and the appointment of such successor Depositary shall be subject to in no way impair the direction authority of the Custodian hereunder; but the successor depositary. The successor depositary Depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositary.

The Custodian. The Depositary has initially appointed CitibankThe Industrial Bank of Japan, N.A.Limited, London BranchTokyo, Japan, and The Fuji Bank, Limited, Tokyo, Japan, severally, as Custodian Custodians and agents of the Depositary for the purpose purposes of the this Deposit Agreement. The Each Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Either Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any the Depositary at least 30 days prior to the date on which such resignation is to become effective. If after such resignation there will be a Custodian remaining hereunder, the resigning Custodian shall, upon demand of the Depositary, deliver Deposited Securities held by it to such remaining Custodian and such remaining Custodian shall thereupon assume the obligations and duties of such resigning Custodian, including obligations or duties pursuant to Section 2.03 hereof, if any. If after such resignation there will be no other Custodian has previously been appointed remaining hereunder, the Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary Custodian, which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the holders of Receipts to do so, it may appoint an additional custodian upon prior consultation with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and Hitachi appoint a substitute custodianCustodian, which for either Custodian, which, together with any other Custodian hereunder, shall thereafter be a Custodian hereunder with respect hereunder, and upon demand of the Depositary any previous Custodian shall deliver the Deposited Securities held by it to such substitute Custodian. Each such substitute Custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon Promptly after any such change, change the Depositary shall give mail notice thereof in writing to all Holders record holders of ADSs, each other Custodian and the CompanyReceipts. Citibank may at any time act If prior to such change two entities were acting severally as Custodian of the Deposited Securities pursuant such notice shall be mailed at Hitachi's expense but if prior to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its such change only one entity was acting as Custodian pursuant such notice shall be mailed without cost to the Deposit AgreementHitachi. Upon the appointment of any successor depositaryDepositary hereunder, any the Custodian then acting hereunder shallstall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. Hong Kong as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian after consultation with the Company. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citibank N.A. Tokyo as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Shares and other Deposited Securities and other property for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of Japan and obtain the approval of the Company of such appointment. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it by.it as Custodian with respect to such Deposited Securities as the Depositary Xxxxsitary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may may, with the approval of the Company, appoint an additional custodian with respect to any Deposited Securities, or or, with the approval of the Company, discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, the Principal Office of Banco Itaú S.A. as Custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder successor shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by written notice of such resignation delivered to any Deposited Securities and the Depositary at least 60 days prior to the date on which such resignation is to become effective. If upon such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, after Consultation with notice to the CompanyIssuer, promptly appoint a substitute custodian. The Depositary shall require after receiving such resigning or discharged Custodian to Delivernotice, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder with respect hereunder. The Depositary may discharge the Custodian any time upon notice to the Deposited SecuritiesCustodian being discharged. Immediately upon any such changeWhenever the Depositary in its discretion determines that it is in the best interest of the Owners to do so, it may, after Consultation with the Issuer, appoint a substitute custodian, which shall thereafter be the Custodian hereunder. Upon demand of the Depositary, the Depositary Custodian shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian deliver such of the Deposited Securities pursuant or evidence of ownership and title of the Deposited Securities held by it as are requested of it to the Deposit Agreement, in which case any reference to Custodian substitute custodian. The substitute custodian shall mean Citibank solely in its capacity as Custodian pursuant deliver to the Deposit Agreement. Notwithstanding any other provision Depositary, forthwith upon its appointment, an acceptance of the Deposit Agreement or any ADR(s) such appointment satisfactory in form and substance to the contrary, Depositary. The Depositary agrees with the Depositary Issuer that at no time shall not there be obligated to give notice to the Company, any Holders of ADSs or any other more than one Custodian of its acting as Custodian pursuant to the in connection with this Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon the written request or with the written approval of the Company, London Branchmay from time to time appoint one or more agents, as permitted by Venezuelan law and any other applicable laws or regulations, to act for it as Custodian for hereunder. Each Custodian so appointed (other than Xxxxxx Guaranty Trust Company of New York) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge any Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary, after consultation with the Company, shall from time to time appoint one or more agents to act for it as Custodian hereunder. The Depositary has initially appointed Citibank, N.A., London Branch, Korea Securities Depository ("KSD") as Custodian custodian of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any the Depositary receives a notice of the resignation of the Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and upon effectiveness of such resignation there would be no other Custodian has previously been appointed hereunder, the Depositary shall, promptly after receiving such notice and after consultation with notice to the Company, promptly appoint a substitute custodiancustodian which shall thereafter be the Custodian hereunder. Such resignation of the Custodian shall take effect upon the appointment of a successor custodian and its acceptance of such appointment. The Depositary shall require such resigning or discharged Custodian to DeliverDepositary, or cause after consultation with the Delivery ofCompany, the Deposited Securities held by it, together with all such records maintained by when it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, determines that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute or an additional custodian, which shall thereafter be a Custodian hereunder with respect to the Deposited Securitieshereunder. Immediately upon any such changechange of Custodian or appointment of additional Custodians, the Depositary shall at its own expense give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementHolders. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon the request or with the approval of the Company, London Branchmay from time to time (and shall, as promptly as practicable, whenever there be no Custodian hereunder) appoint one or more agents to act for it as Custodian hereunder. Each Custodian so appointed (other than JPMorgan Chase Bank) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge the Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the 15 <PAGE> Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary. SECTION 5.06.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon the written request or with the written approval of the Company, London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed (other than the purpose of Depositary or an affiliate thereof) shall give notice in writing to the Deposit AgreementCompany and the Depositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge any Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority as agent hereunder of such successor depositary. Notwithstanding anything to the contrary contained in the Deposit Agreement (including the Receipts), subject to the penultimate sentence of Section 5.3 hereof, the Depositary shall not be responsible for, and shall incur no liability in connection with or arising from, any act or omission to act on the direction part of such successor depositaryany Custodian other than JPMorgan Chase Bank, N.A. except to the extent that the Custodian has (i) committed fraud or willful misconduct in the provision of custodial services to the Depositary or (ii) failed to use reasonable care in the provision of custodial services to the Depositary as determined in accordance with the standards prevailing in the jurisdiction in which the Custodian is located. To the extent the Custodian is JPMorgan Chase Bank, N.A. the Depositary shall be responsible for the acts and omissions to act on the part of the Custodian as if the Depositary were acting as Custodian hereunder.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed (other than an office of JPMorgan Chase Bank) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge any Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority as agent hereunder of such successor depositary. Notwithstanding anything to the contrary contained in this Deposit Agreement (including the Receipts), the Depositary shall not be responsible for, and shall incur no liability in connection with or arising from, any act or omission to act on the direction part of such successor depositarythe Custodian except to the extent that the Custodian has (i) committed fraud or willful misconduct in the provision of custodial services to the Depositary or (ii) failed to use reasonable care in the provision of custodial services to the Depositary as determined in accordance with the standards prevailing in the jurisdiction in which the Custodian is located.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Unibanco as Custodian custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged at its request from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least sixty (60) days prior to the date on which such resignation is to become effective. If upon such notice of resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, promptly after receiving such notice, and after consultation with the Companies, appoint a substitute custodian that is organized under the laws of Brazil which shall thereafter be the Custodian hereunder. The Depositary, after consultation with the Companies, may discharge the Custodian at any time upon notice to the Company, promptly Custodian being discharged and appoint a substitute custodian, who shall thereafter be the Custodian hereunder. Forthwith upon its appointment, the substitute custodian shall deliver to the Depositary and the Companies an acceptance of such appointment satisfactory in form and substance to the Depositary and the Companies. Upon demand of the Depositary the Custodian shall deliver such of the Deposited Securities or evidence of ownership and title of the Deposited Securities held by it as are requeseted of it to such substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all registered Holders of ADSsthe name, each other Custodian location and the Company. Citibank may at any time act as Custodian appointment of the Deposited Securities pursuant to Custodian not named in the Deposit Agreement, Receipts. The Depositary agrees with the Companies that at no time shall there be more than one Custodian acting in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the connection with this Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary, after consultation with the Company shall from time to time appoint one or more agents to act for it as Custodian hereunder. The Depositary has initially appointed Citibank, N.A., London Branch, Bombay as Custodian custodian and agent of the Depositary for the purpose of the Deposit this Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by 30 days' prior notice of its election to any Deposited Securities do so delivered to the Depositary; such resignation to take effect upon the appointment of a successor Custodian and its acceptance of such appointment as hereinafter provided. If upon the delivery of such notice of resignation there shall be no Custodian acting hereunder other than the Custodian has previously been appointed hereunderdelivering the notice, the Depositary shall, promptly after receiving such notice and after consultation with notice the Company, appoint a substitute custodian which shall thereafter be the Custodian hereunder. The Depositary, after consultation with the Company, when it reasonably appears to be in the best interest of the Holders to do so, may appoint a substitute or an additional custodian, which shall thereafter be a Custodian hereunder. Forthwith upon its appointment, each such substitute or additional custodian shall deliver to the Depositary an acceptance of such appointment satisfactory in form and substance to the Depositary and to the Company. Immediately upon any change, promptly appoint a substitute custodian. The the Depositary shall require at its own expense give notice thereof in writing to all Holders. Upon demand of the Depositary, any Custodian shall deliver such resigning or discharged Custodian to Deliver, or cause the Delivery of, of the Deposited Securities held by it, as are requested of it to any other Custodian together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, after consultation with notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. The Depositary shall use reasonable commercial efforts to ensure that at all times there is a Custodian hereunder. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian entity to act as Custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon Promptly after any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementHolders. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, writing and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. – Hong Kong branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary Depositary, after consultation with the Company, shall from time to time appoint one or more agents to act for it as Custodian hereunder. The depositary has initially appointed Citibank, N.A., London N.A. (Bombay Branch, ) as Custodian custodian and agent of the Depositary for the purpose of the Deposit this Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by 30 days' prior notice of its election to any Deposited Securities do so delivered to the Depositary; such resignation to take effect upon the appointment of a successor Cxxxxxxxx and its acceptance of such appointment as hereinafter provided. If upon such notice of resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, promptly after receiving such notice and after consultation with notice to the Company, promptly appoint a substitute custodiancustodian which shall thereafter be the Custodian hereunder. The Depositary, after consultation with the Company, when it reasonably appears to be in the best interest of the Holder to do so, may appoint a substitute or an additional custodian, which shall thereafter be a Custodian hereunder. Forthwith upon its appointment, each such substitute or additional custodian shall deliver to the Depositary an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any change, the Depositary shall require at its own expense give notice thereof in writing to all Holders. Upon demand of the Depositary, any Custodian shall deliver such resigning or discharged Custodian to Deliver, or cause the Delivery of, of the Deposited Securities held by it, as are requested of it to any other Custodian together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon the written request or with the written approval of the Company, London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed (other than The Bank of New York) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge any Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary, after consultation with the Company, may from time to time appoint one or more agents to act for it as custodian hereunder. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. as Custodian and agent of the, Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for Shares and the American Depositary Shares and Receipts with respect to which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is may resign and be discharged from its duties hereunder with respect to any Deposited Securities and by notice of such resignation delivered to the Depositary at least 30 days prior to the date on which such resignation is to become effective. If, upon the effectiveness of such resignation, there should be no other Custodian has previously been appointed custodian acting hereunder, the Depositary shall, promptly after receiving such notice and in consultation with notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian custodian that is organized under the laws of Venezuela with respect to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to which the Custodian designated by has so resigned which shall thereafter be the DepositaryCustodian hereunder. Whenever the Depositary determines, in its discretion, that it is appropriate in the best interest of the Holders to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Forthwith upon its appointment, each such substitute or additional custodian shall deliver to the Depositary and the Company an acceptance of such appointment and agreement to be bound by 'the terms hereof satisfactory in form and substance to the Depositary and the Company. Upon demand of the Depositary, any Custodian shall deliver such of the Deposited Securities held by it together with all records maintained by it as Custodian with respect to such Deposited Securities as are requested of it to any other Custodian or such substitute or additional custodian or custodians, and each such substitute or additional custodian shall deliver to the Depositary and the Company forthwith upon its appointment, an acceptance of such appointment and agreement to be bound by the terms hereof, satisfactory in form and substance to the Depositary and the Company. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts with respect to which such appointment has been made, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary with respect to any Deposited Securities and the corresponding Shares, American Depositary Shares and Receipts hereunder, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue with respect to be the Custodian of the such Deposited Securities shall forthwith become, without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction agent hereunder of such successor depositary.depositary and the appointment of such successor depositary shall in no way impair the authority of each Custodian

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citigroup Global Markets Deutschland AG & Co. KGaA as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, after consultation with notice to the Company, promptly appoint a substitute custodiancustodian that is organized under the laws of Germany. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian entity to act as Custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., the London Branch, Branch of The Bank of New York Mellon as Custodian custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least thirty (30) days prior to the date on which such resignation is to become effective. If upon such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodiancustodian or custodians, each of which shall thereafter be a Custodian hereunder. The Depositary in its discretion may appoint a substitute or additional custodian or custodians, which shall require thereafter be one of the Custodians hereunder. Upon demand of the Depositary any Custodian shall deliver such resigning or discharged Custodian to Deliver, or cause the Delivery of, of the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect are requested of it to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant or such substitute or additional custodian or custodians. Each such substitute or additional custodian shall deliver to the Depositary, forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary, accepting such appointment and agreeing to abide by the applicable terms of this Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any each Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary. As soon as practicable after any appointment of a successor Custodian, the Depositary shall give written notice to the Issuer.

The Custodian. The Depositary Depositary, after consultation with the Company, shall from time to time appoint one or more agents to act for it as Custodian hereunder. The depositary has initially appointed Citibank, N.A., London N.A. (Bombay Branch, ) as Custodian custodian and agent of the Depositary for the purpose of the Deposit this Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by 30 days' prior notice of its election to any Deposited Securities do so delivered to the Depositary; such resignation to take effect upon the appointment of a successor Custodian and its acceptance of such appointment as hereinafter provided. If upon such notice of resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, promptly after receiving such notice and after consultation with notice to the Company, promptly appoint a substitute custodiancustodian which shall thereafter be the Custodian hereunder. The Depositary, after consultation with the Company, when it reasonably appears to be in the best interest of the Holder to do so, may appoint a substitute or an additional custodian, which shall thereafter be a Custodian hereunder. Forthwith upon its appointment, each such substitute or additional custodian shall deliver to the Depositary an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any change, the Depositary shall require at its own expense give notice thereof in writing to all Holders. Upon demand of the Depositary, any Custodian shall deliver such resigning or discharged Custodian to Deliver, or cause the Delivery of, of the Deposited Securities held by it, as are requested of it to any other Custodian together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citibank N.A. Tokyo as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Shares and other Deposited Securities and other property for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of Japan and obtain the approval of the Company of such appointment. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may may, with the approval of the Company, appoint an additional custodian with respect to any Deposited Securities, or or, with the approval of the Company, discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Mxxxxx Bank Limited as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of Finland. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed CitibankDepositary, N.A.upon written request or with the written approval of the Company, London Branch, may from time to time appoint one or more agents to act for it as Custodian for hereunder. Each Custodian so appointed (other than an office of JPMorgan Chase Bank) shall give notice in writing to the purpose of Company and the Deposit AgreementDepositary accepting such appointment and agreeing to be bound by the applicable terms hereof. The Any Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is discharged may resign from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with at least 30 days prior to the date on which such resignation is to become effective. The Depositary may discharge any Custodian at any time upon notice to the Company, promptly appoint Custodian being discharged. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a substitute custodianCustodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian the name and the Company. Citibank may at any time act as Custodian location of the Deposited Securities pursuant to appointment of any Custodian not named in the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Banca Commerciale Italiana S.p.A. as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to itit and the Depositary undertakes to procure compliance by the Custodian with the applicable provisions of this Deposit Agreement. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least thirty (30) days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian approved by the Company (such approval not to be unreasonably withheld), which shall require thereafter be the Custodian hereunder; provided that such resigning or discharged substitute Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it shall be qualified as Custodian with respect to such Deposited Securities as the Depositary may request, an intermediary pursuant to the Custodian designated by Decree and the DepositaryRegulation. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Owners to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodian approved by the Company (such approval not to be unreasonably withheld), which shall thereafter be the Custodian hereunder with respect hereunder, and upon demand of the Depositary the previous Custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment an acceptance of such appointment satisfactory in form and substance to the Depositary and the Company. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementOwners. Upon the appointment of any successor depositaryDepositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor Depositarydepositary and the appointment of such successor Depositarydepositary shall be subject to in no way impair the direction authority of the Custodian hereunder; but the successor depositary. The successor depositary Depositarydepositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositarydepositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. — Buenos Aires as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shallDepositary, in consultation with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may may, in consultation with the Company, appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank Citibank, N.A. may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank Citibank, N.A. solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the The Depositary shall not be obligated to give notice as early as is practicable to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Taipei Branch, as Custodian custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and the Depositary at least sixty (60) days prior to the date on which such resignation is to become effective. If upon such notice of resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, promptly after receiving such notice, after consultation with the Company, appoint a substitute custodian that is organized under the laws of the ROC which shall thereafter be the Custodian hereunder. The Depositary may discharge any Custodian at any time upon notice to the Custodian being discharged and, after consultation with the Company, promptly appoint a substitute or an additional custodian, who shall thereafter be a Custodian hereunder. Forthwith upon its appointment, each such substitute or additional custodian shall deliver to the Depositary and the Company an acceptance of such appointment satisfactory in form and substance to the Depositary and the Company. Any Custodian ceasing to act hereunder as Custodian shall deliver all Deposited Securities held by it to a Custodian continuing to act upon the instruction of the Depositary. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all registered Holders of ADSsthe name, each other Custodian location and the Company. Citibank may at appointment of any time act as Custodian of not named in the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London BranchCitigroup Global Markets Deutschland AG, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Property for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities Property and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities Property held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities Property as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited SecuritiesProperty, or discharge the Custodian with respect to any Deposited Securities Property and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited SecuritiesProperty. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank Citibank, N.A. may at any time act as Custodian of the Deposited Securities Property pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank Citibank, N.A. solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of anything contained in the Deposit Agreement or any ADR(s) to the contraryADR, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities Property without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Banco Itaú as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any the Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall promptly appoint a substitute custodian that is organized under the laws of Brazil. The Depositary shall, with upon prior written notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect may, upon prior written notice to any Deposited Securitiesthe Company, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any the Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary, after consultation with the Company, shall from time to time appoint one or more agents to act for it as Custodian hereunder. The Depositary has initially appointed Citibank, N.A., London Branch, Korea Securities Depository as Custodian custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any the Depositary receives a notice of the resignation of the Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and upon effectiveness of such resignation there would be no other Custodian has previously been appointed acting hereunder, the Depositary shall, promptly after receiving such notice and after consultation with notice to the Company, promptly appoint a substitute custodiancustodian which shall thereafter be the Custodian hereunder. Such resignation of the Custodian shall take effect upon the appointment of a successor custodian and its acceptance of such appointment. The Depositary shall require such resigning or discharged Custodian Depositary, after consultation with the Company, when it reasonably appears to Deliver, or cause be in the Delivery of, best interest of the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate Holders to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute or an additional custodian, which shall thereafter be a Custodian hereunder with respect to the Deposited Securitieshereunder. Immediately upon any such changechange of Custodian or appointment of additional Custodians, the Depositary shall at its own expense give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementHolders. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, following consultation with notice to the Company, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. The Depositary shall use reasonable commercial efforts to ensure that at all times there is a Custodian hereunder. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian entity to act as Custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon Promptly after any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, writing and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. Mumbai Branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of the Republic of India. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint appoint, upon notice to the Company, a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Skandinaviska Enskilda Banken and Svenska Handelsbanken as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunderthe Depositary at least 30 days prior to the date on which such resignation is to become effective. Promptly after receiving such notice, the Depositary shallwill, with notice to the Companyif needed, promptly appoint a substitute or additional custodian. The Depositary shall require such resigning or discharged , so that there will at all times be a Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, discretion determines that it is appropriate in the best interest of the Holders of Receipts to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute or additional custodian, which shall thereafter be the Custodian hereunder with respect hereunder, and upon demand of the Depositary any previous Custodian shall deliver the Deposited Securities held by it to a substitute Custodian designated by the Depositary. Each such substitute or additional custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, the Offenbach office of BHF-Bank AG as Custodian custodian and agent of the Depositary for the purpose of the this Deposit Agreement. The A Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Any Custodian resigns or is may resign and be discharged from its duties hereunder with respect by written notice of such resignation delivered to any Deposited Securities and the Depositary at least 30 days prior to the date on which such resignation is to become effective. If upon such resignation there shall be no other Custodian has previously been appointed acting hereunder, the Depositary shall, shall with notice to the prior written consent of the Company, promptly after receiving such notice appoint a substitute custodian. The Depositary custodian that is organized under the laws of Germany which shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to thereafter be the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, reasonable discretion determines that it is appropriate in the best interest of the Owners to do so, it may appoint an additional custodian discharge any Custodian hereunder and, with respect to any Deposited Securitiesthe prior written consent of the Company, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodiancustodian or appoint one or more additional custodians, each of which shall thereafter be a Custodian hereunder. Any Custodian ceasing to act as Custodian hereunder shall deliver all Deposited Securities held by it and all other books and records maintained by it with respect to its function as a Custodian hereunder to a Custodian continuing to act upon the Deposited Securitiesinstruction of the Depositary. Each substitute or additional custodian shall deliver to the Depositary, forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any to all Owners and to each other Custodian of its acting as the name, the address and the appointment of any Custodian pursuant to not named in the Deposit AgreementReceipts. Upon the appointment of any successor depositaryDepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor Depositary and the appointment of such successor Depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary Depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositaryDepositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Citi Banamex as Custodian for the purpose of the Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian organized under the laws of Mexico or licensed to act as custodian in Mexico, which substitute custodian shall assume its duties as Custodian as of the effective date of the resignation. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank Citibank, N.A. may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank Citibank, N.A. solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of anything contained in the Deposit Agreement or any ADR(s) to the contraryADR, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Hong Kong Branch as Custodian and agent for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shallshall promptly, and after consultation with notice to the Company, promptly appoint a substitute custodiancustodian that is licensed to operate as custodian under the laws of Hong Kong. Such resignation of the Custodian shall take effect upon the appointment of a successor custodian and its acceptance of such appointment. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, after consultation with the Company (if such consultation is practicable in its discretionthe opinion of the Depositary), that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities and agent of such successor depositary without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, the Bank of Ireland as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder with respect hereunder. Whenever the Depositary in its discretion determines that it is in the best interest of the Holders of Receipts to do so, it may appoint a substitute custodian, which shall thereafter be the Custodian hereunder, and upon demand of the Depositary the previous Custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any the Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of the successor depositary. The Custodian hereunder; but the successor depositary so appointed shall, nevertheless, on the written request of any the Custodian, execute and deliver to such the Custodian all such instruments as may be proper to give to such the Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of England. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsADRs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, each of Skandinaviska Enskilda Banken and Svenska Handelsbanken as Custodian and agent of the Depositary for the purpose purposes of the this Deposit Agreement. The Each Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction directions of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Each Custodian resigns or is may resign and be discharged from its duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be the Custodian hereunder with respect hereunder. Whenever the Depositary in its discretion determines that it is in the best interest of the Holders of Receipts to do so, it may ap­point a substitute or an additional custodian, which shall there­after be a Custodian hereunder, and upon demand of the Depositary the previous Custodian shall deliver the Deposited Securities held by it to such substitute custodian. Each such substitute custo­dian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment an acceptance of such appointment satisfac­tory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing writ­ing to all Holders of ADSs, each other Custodian and Receipts. The Depositary may discharge or appoint any Custo­dian only after consultation with the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without with­out any further act or writing, the agent hereunder of such suc­cessor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of any Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, N.A. - Hong Kong branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodian. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary has initially appointed Citibank, N.A., London Branch, Skandinaviska Enskilda Banken and Svenska Handelsbanken as Custodian custodians and agents of the Depositary for the purpose of the this Deposit Agreement. The Custodian or its successors Custodians in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is The Custodians may resign and be discharged from its their duties hereunder with respect by notice of such resignation delivered to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary at least 30 days prior to the date on which such resignation is to become effective. The Depositary shall, with notice to the Companypromptly after receiving such notice, promptly appoint a substitute custodian. The Depositary custodian which shall require such resigning or discharged thereafter be Custodian to Deliver, or cause the Delivery of, the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositaryhereunder. Whenever the Depositary determines, in its discretion, that it is appropriate in the best interest of the Holders of Receipts to do so, it may appoint a substitute or an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect hereunder. Upon demand of the Depositary the Custodian shall deliver such of the Deposited Securities held by it as are requested of it to any other Custodian or such substitute or additional custodian or custodians. Each such substitute or additional custodian shall deliver to the Deposited SecuritiesDepositary forthwith upon its appointment, an acceptance of such appointment satisfactory in form and substance to the Depositary. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit AgreementReceipts. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.

The Custodian. The Depositary has initially appointed ------------- Citibank, N.A., London Branch, N.A. - Mumbai Branch as Custodian for the purpose of the this Deposit Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities Shares for which the Custodian acts as custodian and shall be responsible solely to it. If any Custodian resigns or is discharged from its duties hereunder with respect to any Deposited Securities and no other Custodian has previously been appointed hereunder, the Depositary shall, with notice to the Company, shall promptly appoint a substitute custodiancustodian that is organized under the laws of the Republic of India. The Depositary shall require such resigning or discharged Custodian to Deliver, or cause the Delivery of, deliver the Deposited Securities held by it, together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may may, upon notice to the Company, appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSsReceipts, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositary, any Custodian then acting hereunder shall, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, and shall be subject to the direction of the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction of such successor depositary.

The Custodian. The Depositary, after consultation with the Company, shall from time to time appoint one or more agents to act for it as Custodian hereunder. The Depositary has initially appointed Citibank, N.A., London Branch, Bombay as Custodian custodian and agent of the Depositary for the purpose of the Deposit this Agreement. The Custodian or its successors in acting hereunder shall be subject at all times and in all respects to the direction of the Depositary for the Deposited Securities for which the Custodian acts as custodian and shall be responsible solely to it. If any The Custodian resigns or is may resign and be discharged from its duties hereunder with respect by 30 days' prior notice of its election to any Deposited Securities do so delivered to the Depositary; such resignation to take effect upon the appointment of a successor Custodian and its acceptance of such appointment as hereinafter provided. If upon the delivery of such notice of resignation there shall be no Custodian acting hereunder other than the Custodian has previously been appointed hereunderdelivering the notice, the Depositary shall, promptly after receiving such notice and after consultation with notice the Company, appoint a substitute custodian which shall thereafter be the Custodian hereunder. The Depositary, after consultation with the Company, when it reasonably appears to be in the best interest of the Holders to do so, may appoint a substitute or an additional custodian, which shall thereafter be a Custodian hereunder. Forthwith upon its appointment, each such substitute or additional custodian shall deliver to the Depositary an acceptance of such appointment satisfactory in form and substance to the Depositary and to the Company. Immediately upon any change, promptly appoint a substitute custodian. The the Depositary shall require at its own expense give notice thereof in writing to all Holders. Upon demand of the Depositary, any Custodian shall deliver such resigning or discharged Custodian to Deliver, or cause the Delivery of, of the Deposited Securities held by it, as are requested of it to any other Custodian together with all such records maintained by it as Custodian with respect to such Deposited Securities as the Depositary may request, to the Custodian designated by the Depositary. Whenever the Depositary determines, in its discretion, that it is appropriate to do so, it may appoint an additional custodian with respect to any Deposited Securities, or discharge the Custodian with respect to any Deposited Securities and appoint a substitute custodian, which shall thereafter be Custodian hereunder with respect to the Deposited Securities. Immediately upon any such change, the Depositary shall give notice thereof in writing to all Holders of ADSs, each other Custodian and the Company. Citibank may at any time act as Custodian of the Deposited Securities pursuant to the Deposit Agreement, in which case any reference to Custodian shall mean Citibank solely in its capacity as Custodian pursuant to the Deposit Agreement. Notwithstanding any other provision of the Deposit Agreement or any ADR(s) to the contrary, the Depositary shall not be obligated to give notice to the Company, any Holders of ADSs or any other Custodian of its acting as Custodian pursuant to the Deposit Agreement. Upon the appointment of any successor depositarydepositary hereunder, any Custodian then acting hereunder shallshall forthwith become, unless otherwise instructed by the Depositary, continue to be the Custodian of the Deposited Securities without any further act or writing, the agent hereunder of such successor depositary and the appointment of such successor depositary shall be subject to in no way impair the direction authority of each Custodian hereunder; but the successor depositary. The successor depositary so appointed shall, nevertheless, on the written request of any Custodian, execute and deliver to such Custodian all such instruments as may be proper to give to such Custodian full and complete power and authority to act on the direction as agent hereunder of such successor depositary.