Common use of Cancellation and Destruction of ADRs Clause in Contracts

Cancellation and Destruction of ADRs. The Depositary shall cancel all ADRs surrendered to it. The Depositary is authorised to destroy ADRs so cancelled in accordance with customary practices of stock transfer agents in The City of New York. Cancelled ADRs shall not be entitled to any benefits under this Agreement or be valid or obligatory for any purpose.

Appears in 3 contracts

Samples: Deposit Agreement (C&c Group PLC), Deposit Agreement (Iona Technologies PLC), Deposit Agreement (Iona Technologies PLC)

AutoNDA by SimpleDocs

Cancellation and Destruction of ADRs. The Depositary shall cancel all All ADRs surrendered to itthe Depositary shall be canceled by the Depositary. The Depositary is authorised authorized to destroy ADRs so cancelled canceled in accordance with its customary practices practices. The Depositary shall maintain records of all ADRs surrendered and Deposited Securities withdrawn under Paragraph (1) of the form of ADR, substitute ADRs delivered, and canceled or destroyed ADRs under this Section 7, in keeping with the procedures ordinarily followed by stock transfer agents located in The City of New York. Cancelled ADRs shall not be entitled to any benefits under this Agreement York or be valid as required by applicable law, rule or obligatory for any purposeregulation.

Appears in 1 contract

Samples: Deposit Agreement (Reuters Group PLC)

Cancellation and Destruction of ADRs. The Depositary shall cancel all All ADRs surrendered to itthe Depositary shall be cancelled by the Depositary. The Depositary is authorised authorized to destroy ADRs so cancelled in accordance with its customary practices practices. The Depositary shall maintain records of all ADRs surrendered and Deposited Securities withdrawn under paragraph (1) of the form of ADR, substitute ADRs delivered, and cancelled or destroyed ADRs under this Section 7, in keeping with the procedures ordinarily followed by stock transfer agents located in The City of New York. Cancelled ADRs shall not be entitled to any benefits under this Agreement York or be valid as required by applicable law, rule or obligatory for any purposeregulation.

Appears in 1 contract

Samples: Deposit Agreement (National Australia Bank LTD)

Cancellation and Destruction of ADRs. The Depositary shall cancel all ADRs surrendered to it. The Depositary is authorised authorized to destroy ADRs so cancelled in accordance with customary practices of stock transfer agents in The City the city of New York. Cancelled ADRs shall not be entitled to any benefits under this Agreement or be valid or obligatory for any purpose.

Appears in 1 contract

Samples: Deposit Agreement (Deutsche Bank Trust Co Americas/ ADR Group)

AutoNDA by SimpleDocs

Cancellation and Destruction of ADRs. The Depositary shall cancel all ADRs surrendered to itit for cancellation. The Depositary is authorised authorized to destroy ADRs so cancelled in accordance with customary practices of stock transfer agents in The City of New York. Cancelled ADRs shall not be entitled to any benefits under this Agreement or be valid or obligatory for any purpose.

Appears in 1 contract

Samples: Deposit Agreement (Deutsche Bank Trust Co Americas/ ADR Group)

Cancellation and Destruction of ADRs. The Depositary shall cancel all All ADRs surrendered to itthe Depositary shall be cancelled by the Depositary. The Depositary is authorised authorized to destroy ADRs in certificated form so cancelled in accordance with its customary practices practices. The Depositary shall maintain records of all ADRs surrendered and Deposited Securities withdrawn under Paragraph (2) of each form of ADR, substitute ADRs delivered, and cancelled or destroyed ADRs under this Section 8, in keeping with the procedures ordinarily followed by stock transfer agents located in The City of New York. Cancelled ADRs shall not be entitled to any benefits under this Agreement York or be valid as required by applicable law, rule or obligatory for any purposeregulation.

Appears in 1 contract

Samples: Deposit Agreement (Mercantil Servicios Financieros, C.A.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!