CANCELLATION OF BDRs Sample Clauses

CANCELLATION OF BDRs. 4.1. Cancellation of BDRs by investors resident and domiciled in Brazil 4.1.1. Investors resident and domiciled in Brazil may, at any time, give instructions to a Brazilian broker to request that a foreign broker sell the securities overseas through the cancellation of their BDRs in Brazil. 4.1.2. In order to cancel BDRs, the holder must instruct the Brazilian broker or escrow agent to cancel the BDRs at ITAUCOR, liberating the securities the serve as backing overseas, permitting their disposal. 4.1.3. In order to cancel BDRs, the Brazilian broker or escrow agent must (i) transfer the BDRs to ITAUCOR to escrow agent 0000-0, xxxxxx 0-0, xxxxxxxxx 0000-0, (xx) receive information from the foreign broker for the physical settlement of the securities, (iii) send a letter, fax, electronic receipt or SWIFT message to ITAUCOR, providing information on the overseas escrow for the settlement of the sale of the securities backing the BDRs (“BDR Cancellation Instruction”) and (iv) make payment to ITAUCOR of the BDR Cancellation Fee indicated in the pricing schedule (Annex III), calculated by multiplying the number of BDRs by the value of the fee, which sum should be deposited in current account Nº 30.549-5, at Agencia 2001, designated by ITAUCOR on the date of the request for the cancellation of the BDRs (“Cancellation Fee”). 4.1.4. ITAUCOR, following (a) receipt of (i) the BDRs, (ii) the BDR Cancellation Instruction, (iii) the Cancellation Fee, and (b) verification that all documents are valid and contain the information necessary for the transfer of the securities for the cancellation of the BDRs, must send a SWIFT message requesting the transfer of the securities and providing information on the account to which they are to be credited, in accordance with information received from the Brazilian broker or escrow agent. 4.1.5. The CUSTODIAN, on receiving from ITAUCOR a SWIFT message, pdf file letter, or fax shall undertake the necessary verification steps and then transfer the securities to the holding account of the foreign broker, thus settling the sale of the securities. 4.1.6. Following the financial settlement of the sale of the securities that serve as backing for the issuance of the BDRs overseas, the Brazilian broker or escrow agent may undertake the exchange of foreign currency for national currency, by means of an exchange contract, which must be undertaken together with the presentation of the brokerage note for the sale of the securities and other docume...
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CANCELLATION OF BDRs. With due regard for the provisions of PRINCIPAL’s by-laws or articles of association, BDRs may be canceled at any time, upon delivery of BDRs to BRADESCO for the purpose of obtaining PRINCIPAL’s Shares represented by them, payment of the applicable taxes and fees and the execution of a BDRs cancellation instrument and other documents that may be necessary to comply with all legal obligations, and the relevant Beneficiaries shall receive, as soon as possible, PRINCIPAL’s Shares represented by the delivered BDRs, provided that it shall not be possible to cancel the number of BDRs that result in a fraction of Company’s Share. 3.15.1 As soon as any Beneficiary has delivered their BDRs to BRADESCO, as set forth in Section 3.15. above, BRADESCO shall instruct the Custodian to deliver PRINCIPAL’s Shares represented by the canceled BDRs to such Beneficiary, the delivery of which shall take place at the Custodian’s central office or at any other place agreed between the Custodian and the relevant Beneficiary.
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CANCELLATION OF BDRs. Subject to the provisions of CONTRACTING PARTY’s bylaws or articles of association, the BDRs may be canceled at any time, upon delivery of BDRs to BRADESCO for the purpose of obtaining CONTRACTING PARTY’s Shares represented by them, the payment of taxes and fees applicable and the signing of an instrument of cancellation of BDRs and other documents that may be necessary for compliance with all legal obligations, the respective Beneficiaries shall receive, as soon as possible, CONTRACTING PARTY’s Shares represented by the BDRs delivered. 3.15.1. As soon as any Beneficiary has delivered its BDRs to BRADESCO, pursuant to the provisions of Section 3.15. above, BRADESCO shall instruct the Custodian to deliver CONTRACTING PARTY’s Shares represented by the canceled BDRs to that Beneficiary, which delivery shall take place at the Custodian’s central office, or at any other place agreed upon by the Custodian and the respective Beneficiary.
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CANCELLATION OF BDRs. BDRs shall be cancelled in accordance with the instructions provided for in item IV of Exhibit I to this agreement.
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Related to CANCELLATION OF BDRs

  • Cancellation of Agreement In the event that prior to the Closing Date (a) trading in securities on the New York Stock Exchange generally, or in securities of the Bank in particular, shall have been suspended, or minimum prices established by the New York Stock Exchange, or any new restrictions on transactions in securities shall have been established by the New York Stock Exchange or by the Commission or by any other United States Federal or State agency or by any action of the United States Congress or by executive order to such a degree as, in your judgment as the Representatives, to affect materially and adversely the marketing of the Securities or (b) existing financial, political or economic conditions in Europe, the United States or elsewhere shall have undergone any change which, in your judgment as the Representatives, would materially and adversely affect the market for the Securities, this Agreement and all obligations of the Underwriters hereunder may be canceled at, or at any time prior to, the Closing Date by you, as the Representatives, without liability on the part of any Underwriter to the Bank or of the Bank to any Underwriter, subject to Section 11(e). Notice of such cancellation shall be given to the Bank in writing, or by cable or telephone confirmed in writing.

  • CANCELLATION OF CONTRACT The Division of Procurement Services reserves the right to cancel a contract with a thirty-day written notice OR cancel immediately if the contractor does not conform to terms and conditions and specifications of contract.

  • Cancellation of Notes Any Person that receives a Note surrendered for payment, registration of transfer, exchange or redemption will deliver the Note to the Indenture Trustee and the Indenture Trustee will promptly cancel it. The Issuer may surrender to the Indenture Trustee for cancellation Notes previously authenticated and delivered under this Indenture which the Issuer may have acquired, and the Indenture Trustee will promptly cancel them. No Notes will be authenticated in place of or in exchange for Notes cancelled as stated in this Section 2.10. The Indenture Trustee may hold or dispose of cancelled Notes according to its standard retention or disposal policy unless the Issuer directs, by Issuer Order, that they be destroyed or returned to it.

  • Cancellation of Options In exchange for the consideration described in Section 1.2 below, the Participant hereby agrees that the Award Agreement and the Participant’s interests in the Underwater Options shall be cancelled, terminated, and of no further force or effect, effective as of the Effective Date, and that neither the Company nor the Participant shall have any further rights or obligations with respect to the Award Agreement, the Underwater Options, or with respect to which any shares of Common Stock that could have been acquired upon vesting and exercise of the Underwater Options.

  • Cancellation by Us If We cancel this Agreement, We shall mail to You written notice to Your last known address stating the reason and effective date for cancellation, at least five (5) days prior to cancellation. However, such prior notice shall not be required if We cancel for nonpayment of the Purchase Price, material misrepresentation by You to Us, or substantial breach of duties by You relating to the Covered Vehicle or its use.

  • Cancellation OSS Charge TWTC will incur an OSS charge for an accepted LSR that is later canceled.

  • Cancellation of Warrant This Warrant shall be canceled upon the Exercise of this Warrant, and, as soon as practical after the Date of Exercise, Holder shall be entitled to receive Common Stock for the number of shares purchased upon such Exercise of this Warrant, and if this Warrant is not exercised in full, Holder shall be entitled to receive a new Warrant (containing terms identical to this Warrant) representing any unexercised portion of this Warrant in addition to such Common Stock.

  • Cancellation of the Contract You are responsible for paying the full Contract Rate for the entire Contract Period, unless the Contract is canceled in accordance with one of the provisions below. Depending on when and how the Contract is canceled, you may owe the University a Cancellation Fee. The “Cancellation Fee” charged by the University constitutes an amount that will compensate the University for the costs it will incur and/or losses it will suffer as a result of your cancellation, which costs and losses are difficult to quantify. As provided in Section III.e. above, your Deposit may be used to partially defray the Cancellation Fee.

  • Cancellation of Warrants In the event the Company shall purchase or otherwise acquire Warrants, the same shall thereupon be cancelled and retired. The warrant agent (if so appointed) shall cancel any Warrant surrendered for exchange, substitution, transfer or exercise in whole or in part.

  • Cancellation Terms The contract is concluded between the member and the Caisse two (2) business days following the member's receipt of this agreement (the "Effective Date"). The member is deemed to have received this agreement five (5) business days after it has been mailed or after the date of receipt in AccèsD, as applicable. Unless the member notifies the Caisse in writing within three (3) business days of the contract's Effective Date (the "Cancellation Deadline"): (i) that the information shown on the agreement is not in accordance with his/her request, or (ii) that he/she does not accept all of the terms and conditions applicable to this agreement the member shall be deemed to have provided the instructions indicated in this agreement and to have accepted all conditions described herein. If the member cancels the agreement before the Cancellation Deadline, the initial deposit invested by the member will be returned to him/her in full and without fees or interest.

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