Common use of Authorization of Deposit Agreement Clause in Contracts

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized by the Company, and assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or general equitable principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the due issuance by the Depositary of the ADSs against the deposit of the Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares and ADSs will be duly and validly issued, and the persons in whose names the ADSs are registered will be entitled to the rights specified in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement and the Prospectus; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, executed and delivered by the CompanyCompany and, and assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except subject, as may be limited by applicable to enforceability, to bankruptcy, insolvency, reorganization, moratorium or other and similar laws of general applicability relating to or affecting creditors’ rights generally or and to general equitable equity principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the ; upon due issuance by the Depositary of the ADSs ADRs evidencing the Securities against the deposit of the underlying Ordinary Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares and ADSs ADRs will be duly and validly issued, issued and the persons in whose names the ADSs ADRs are registered will be entitled to the rights specified therein and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement and the Prospectus; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement General Disclosure Package and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, and when executed and delivered by the CompanyCompany will, and assuming due authorization, execution and delivery by the Depositary, constitutes constitute a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or general equitable principles. Upon the issuance, sale and payment for the ADSs underlying Offered Shares in accordance with the terms hereof and the due issuance by the Depositary of the ADRs evidencing the Offered ADSs against the deposit of the Ordinary underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares Offered ADSs and ADSs ADRs will be duly and validly issued, and the persons in whose names the Offered ADSs and ADRs are registered will be entitled to the rights specified therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement and Statement, the Prospectus; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement General Disclosure Package and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, and when executed and delivered by the CompanyCompany will, and assuming due authorization, execution and delivery by the Depositary, constitutes constitute a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except subject, as may be limited by applicable to enforceability, to bankruptcy, insolvency, reorganization, moratorium or other and similar laws of general applicability relating to or affecting creditors’ rights generally or and to general equitable equity principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the ; upon due issuance by the Depositary of the ADRs evidencing the Offered ADSs against the deposit of the Ordinary Underlying ADS Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares Offered ADSs and ADSs ADRs will be duly and validly issued, and the persons in whose names the Offered ADSs and ADRs are registered will be entitled to the rights specified therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement and Statement, the Prospectus; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement General Disclosure Package and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, executed and delivered by the CompanyCompany and, and assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except subject, as may be limited by applicable to enforceability, to bankruptcy, insolvency, reorganization, moratorium or other and similar laws of general applicability relating to or affecting creditors’ rights generally or and to general equitable equity principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the due issuance by the Depositary of the ADSs against the deposit of the Ordinary Underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares and ADSs will be duly and validly issued, and the persons in whose names the ADSs are registered will be entitled to the rights specified in the ADRs evidencing the same and in the Deposit Agreement; the deposit of the Underlying Shares with the Depositary and the issuance of the ADSs in respect thereof and the ADRs evidencing the same as contemplated by this Agreement and the Deposit Agreement and the ADRs conform in all material respects is not subject to the descriptions thereof contained in preemptive or other similar rights of any securityholder of the Registration Statement and the ProspectusCompany; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement Statement, the General Disclosure Package and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, and when executed and delivered by the CompanyCompany will, and assuming due authorization, execution and delivery by the Depositary, constitutes constitute a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except subject, as may be limited by applicable to enforceability, to bankruptcy, insolvency, reorganization, moratorium or other and similar laws of general applicability relating to or affecting creditors’ rights generally or and to general equitable equity principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the ; upon due issuance by the Depositary of the ADRs evidencing the Offered ADSs against the deposit of the Ordinary underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares Offered ADSs and ADSs ADRs will be duly and validly issued, and the persons in whose names the Offered ADSs and ADRs are registered will be entitled to the rights specified therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement and Statement, the Prospectus; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement General Disclosure Package and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, executed and delivered by the CompanyCompany and, and assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation agreement of the Company, enforceable against the Company in accordance with its terms, except as rights to indemnification thereunder may be limited by applicable law and public policy considerations and subject, as to enforceability, to bankruptcy, insolvency, reorganization, moratorium or other and similar laws of general applicability relating to or affecting creditors’ rights generally or and to general equitable equity principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the ; upon due issuance by the Depositary of the Offered ADSs against the deposit of the Ordinary Underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares and Offered ADSs will be duly and validly issued, and the persons in whose names the Offered ADSs are registered will be entitled to the rights specified therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement and the Prospectus; and the Deposit Agreement and the Offered ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement Statement, Time of Sale Prospectus and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s Offered ADSs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, and when executed and delivered by the CompanyCompany will, and assuming due authorization, execution and delivery by the Depositary, constitutes constitute a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except subject, as may be limited by applicable to enforceability, to bankruptcy, insolvency, reorganization, moratorium or other and similar laws of general applicability relating to or affecting creditors’ rights generally or and to general equitable equity principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the ; upon due issuance by the Depositary of the ADRs evidencing the ADSs against the deposit of the Ordinary Underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares ADSs and ADSs ADRs will be duly and validly issued, and the persons in whose names the ADSs and ADRs are registered will be entitled to the rights specified therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement Statement, the General Disclosure Package, the Prospectus and the Prospectus; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement and the French Listing Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs ADRs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, executed and delivered by the CompanyCompany and, and assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except subject, as may be limited by applicable to enforceability, to bankruptcy, insolvency, reorganization, moratorium or other and similar laws of general applicability relating to or affecting creditors’ rights generally or and to general equitable equity principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the due issuance by the Depositary of the ADSs against the deposit of the Ordinary Underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares and ADSs will be duly and validly issued, and the persons in whose names the ADSs are registered will be entitled to the rights specified in any ADRs evidencing the same and in the Deposit Agreement; the deposit of the Underlying Shares with the Depositary and the issuance of the ADSs in respect thereof and any ADRs evidencing the same as contemplated by this Agreement and the Deposit Agreement is not subject to the preemptive or other similar rights of any securityholder of the Company; and the Deposit Agreement and the ADRs ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement and the Prospectus; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, executed and delivered by the CompanyCompany and, and assuming due authorization, execution and delivery by the Depositary, constitutes a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except subject, as may be limited by applicable to enforceability, to bankruptcy, insolvency, reorganization, moratorium or other and similar laws of general applicability relating to or affecting creditors’ rights generally or and to general equitable equity principles. Upon the issuance, sale and payment for the ADSs in accordance with the terms hereof and the due issuance by the Depositary of the Offered ADSs against the deposit of the Ordinary Underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares and Offered ADSs will be duly and validly issued, and the persons in whose names the Offered ADSs are registered will be entitled to the rights specified in any ADRs evidencing the same and in the Deposit Agreement; the deposit of the Underlying Shares with the Depositary and the issuance of the Offered ADSs in respect thereof and any ADRs evidencing the same as contemplated by this Agreement and the Deposit Agreement and the ADRs conform in all material respects is not subject to the descriptions thereof contained in preemptive or other similar rights of any securityholder of the Registration Statement and the ProspectusCompany; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement Statement, the General Disclosure Package and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs and no such change is currently contemplated.

Authorization of Deposit Agreement. The Deposit Agreement has been duly authorized authorized, and when executed and delivered by the CompanyCompany will, and assuming due authorization, execution and delivery by the Depositary, constitutes constitute a valid and legally binding obligation of the Company, enforceable against the Company in accordance with its terms, except as may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or other similar laws relating to or affecting creditors’ rights generally or general equitable principles. Upon the issuance, sale and payment for the ADSs underlying Shares in accordance with the terms hereof and the due issuance by the Depositary of the ADRs evidencing the Offered ADSs against the deposit of the Ordinary underlying Shares in respect thereof in accordance with the provisions of the Deposit Agreement, such Shares Offered ADSs and ADSs ADRs will be duly and validly issued, and the persons in whose names the Offered ADSs and ADRs are registered will be entitled to the rights specified therein, respectively, and in the Deposit Agreement; and the Deposit Agreement and the ADRs conform in all material respects to the descriptions thereof contained in the Registration Statement and Statement, the Prospectus; and the Deposit Agreement and the ADSs conform in all material respects to the descriptions thereof contained in the Registration Statement General Disclosure Package and the Prospectus. There has been no change in the Company’s agreement with the Depositary in connection with any pre-release of the Company’s ADSs ADRs and no such change is currently contemplated.