Common use of Cancellation and Destruction of Surrendered Receipts; Maintenance of Records Clause in Contracts

Cancellation and Destruction of Surrendered Receipts; Maintenance of Records. All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelled. The Depositary shall maintain, or cause its agents to maintain, a record of American Depositary Shares surrendered and Deposited Securities withdrawn under Section 2.05, substitute American Depositary Shares delivered under Section 2.07 and cancelled or destroyed Receipts under this Section 2.08, in keeping with procedures ordinarily followed by stock transfer agents located in The City of New York or as required by the laws or regulations governing the Depositary.

Appears in 3 contracts

Samples: Deposit Agreement (Deutsche Bank Trust Co Americas/ ADR Group), Deposit Agreement (Bank of New York / Adr Division), Deposit Agreement (Tenaris Sa)

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Cancellation and Destruction of Surrendered Receipts; Maintenance of Records. All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelledcancelled in accordance with its customary practices. Cancelled Receipts shall not be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose. The Depositary shall maintain, or cause its agents to maintain, a record maintain records of American Depositary Shares all Receipts surrendered and Deposited Securities withdrawn under Section 2.05, substitute American Depositary Shares delivered under Section 2.07 and cancelled or destroyed Receipts under this Section 2.08Deposit Agreement, in keeping with the procedures ordinarily followed by stock transfer agents located in The City of New York or as required by the laws applicable law, rule or regulations governing the Depositaryregulation.

Appears in 1 contract

Samples: Deposit Agreement (GEA Group AG)

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