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 shall, from time to time, deliver such cancelled Receipts to the Company, who will retain them in compliance with applicable regulations of the Securities and Exchange Commission. Any Receipt evidenced in book-entry form shall be deemed cancelled when the Depositary has caused the amount of Depositary Shares evidenced by the DTC Receipt to be reduced in proportion to the number of Depositary Shares evidenced by the surrendered Receipt.

Appears in 3 contracts

Samples: Deposit Agreement (Apache Corp), Deposit Agreement (Apache Corp), Deposit Agreement (Apache Corp)

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Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the Depositary or any Depositary's Agent shall be cancelled canceled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary shall, from time is authorized to time, deliver such cancelled destroy all Receipts so canceled. [If Receipts are to the Company, who will retain them be issued in compliance with applicable regulations of the Securities and Exchange Commission. Book- Entry Form: Any Receipt evidenced in book-entry form shall be deemed cancelled canceled when the Depositary has caused the amount of Depositary Shares evidenced by the DTC Receipt to be reduced in proportion to the number of Depositary Shares evidenced by the surrendered Receipt.] [If Receipts are to be issued in Book-Entry Form:

Appears in 2 contracts

Samples: Deposit Agreement (S&t Bancorp Inc), Deposit Agreement (M&t Bank Corp)

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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 shall, from time is authorized to time, deliver such cancelled destroy all Receipts so cancelled. [If Receipts are to the Company, who will retain them be issued in compliance with applicable regulations of the Securities and Exchange Commission. Book-Entry Form: Any Receipt evidenced in book-entry form shall be deemed cancelled canceled when the Depositary has caused the amount of Depositary Shares evidenced by the DTC Receipt to be reduced in proportion to the number of Depositary Shares evidenced by the surrendered Receipt.]

Appears in 1 contract

Samples: Deposit Agreement (Xo Communications Inc)

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