Common use of Cancellation and Destruction of Surrendered Receipts Clause in Contracts

Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the depositary or any Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized to destroy such Receipts so cancelled.

Appears in 1 contract

Samples: Deposit Agreement (Bank of America Corp /De/)

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Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the depositary Depositary or any Depositary’s 's Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the The Depositary is authorized to turn over such cancelled Receipts to the Company unless the Company instructs the Depositary to destroy such Receipts so cancelled.Receipts. 7 8

Appears in 1 contract

Samples: Deposit Agreement (Nationsbank Corp)

Cancellation and Destruction of Surrendered Receipts. All ---------------------------------------------------- Receipts surrendered to the depositary Depositary or any Depositary’s 's Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the The Depositary is authorized to turn over such cancelled Receipts to the Company unless the Company instructs the Depositary to destroy such Receipts so cancelledReceipts.

Appears in 1 contract

Samples: Deposit Agreement (Boatmens Bancshares Inc /Mo)

Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the depositary Depositary or any Depositary’s 's Agent shall be cancelled canceled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized to destroy shall, unless otherwise directed by the Company, hold on behalf of the Company such Receipts so cancelledcanceled.

Appears in 1 contract

Samples: Deposit Agreement (Worldcom Inc /MS/)

Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the depositary or any Depositary’s Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized to destroy such Receipts so cancelled. ARTICLE III CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY

Appears in 1 contract

Samples: Deposit Agreement (Merrill Lynch & Co Inc)

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Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the depositary Depositary or any of the Depositary’s Agent 's Agents shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized to destroy shall, unless otherwise directed by the Company, hold on behalf of the Company such Receipts so cancelled.

Appears in 1 contract

Samples: Deposit Agreement (Sensormatic Electronics Corp)

Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the depositary Depositary or any Depositary’s 's Agent shall be cancelled by the DepositaryDepositary and returned to the Company. Except as prohibited by applicable law or regulation, regulation the Depositary is authorized to Company may destroy such Receipts so cancelledcanceled.

Appears in 1 contract

Samples: Deposit Agreement (National Energy Group Inc)

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