Common use of Conversion of Preferred Shares into Excess Preferred Shares Clause in Contracts

Conversion of Preferred Shares into Excess Preferred Shares. (a) As provided in the Articles of Incorporation, upon the happening of certain events, certain Preferred Shares shall be automatically converted into Excess Preferred Shares. In the event of such a conversion, the Receipt representing the deposited Preferred Shares so converted shall no longer represent, to the extent of the shares so converted, such deposited Preferred Shares. Promptly upon its knowledge of the conversion of such deposited Preferred Shares into Excess Preferred Shares, the Company shall notify the Depositary in writing of such conversion, the number of deposited Preferred Shares so converted, and the identity of the holder of the Receipt so affected, whereupon the Depositary shall promptly notify the holder of such Receipt to surrender such Receipt(s) to the Depositary for cancellation of the number of Depositary Shares evidenced thereby equal to the converted deposited Preferred Shares represented thereby. (b) If fewer than all of the Depositary Shares evidenced by a Receipt are required to be surrendered for cancellation, the Depositary will deliver to the holder of such Receipt upon its surrender to the Depositary a new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not required to be surrendered for cancellation of the Depositary Shares represented thereby, and the Depositary will make appropriate adjustments in its records (as contemplated in Section 2.02) to reflect such conversion and cancellation (including the reduction of any fractional share of deposited Preferred Shares and the issuance of any Excess Preferred Shares).

Conversion of Preferred Shares into Excess Preferred Shares. (a) As provided in the Articles of IncorporationSupplementary, upon the happening of certain events, certain Preferred Shares (in whole or fractional parts) shall be automatically converted into Excess Preferred Shares. In the event of such a conversion, the Receipt representing the deposited Preferred Shares so converted shall no longer represent, to the extent of the shares so converted, such deposited Preferred Shares. Promptly upon its knowledge of the conversion of such deposited Preferred Shares into Excess Preferred Shares, the Company shall notify the Depositary in writing of such conversion, the number of deposited Preferred Shares so converted, and the identity of the holder of the Receipt so affected, whereupon the Depositary shall promptly notify the holder of such Receipt of the foregoing information and the requirement for the holder to surrender such Receipt(s) Receipt to the Depositary for cancellation of the number of Depositary Shares evidenced thereby equal to the converted deposited Preferred Shares represented thereby. (b) . If fewer than all of the Depositary Shares evidenced by a Receipt are required to be surrendered for cancellation, the Depositary will deliver to the holder of such Receipt upon its surrender to the Depositary a new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not required to be surrendered for cancellation. Upon the conversion of the deposited Preferred Shares and cancellation of the Depositary Shares represented thereby, and the Depositary will make appropriate adjustments in its records (as contemplated in Section 2.022.2) to reflect such conversion and cancellation (including the reduction of any fractional share of deposited Preferred Shares and the issuance of any Excess Preferred Shares).

Conversion of Preferred Shares into Excess Preferred Shares. (a) As provided in the Articles of Incorporation, upon the happening of certain events, certain Preferred Shares shall be automatically converted into Excess Preferred Shares. In the event of such a conversion, the Receipt representing the deposited Preferred Shares so converted shall no longer represent, to the extent of the shares so converted, such deposited Preferred Shares. Promptly upon its knowledge of the conversion of such deposited Preferred Shares into Excess Preferred Shares, the Company shall notify the Depositary in writing of such conversion, the number of deposited Preferred Shares so converted, and the identity of the holder of the Receipt so affected, whereupon the Depositary shall promptly notify the holder of such Receipt to surrender such Receipt(s) to the Depositary for cancellation of the number of Depositary Shares evidenced thereby equal to the converted deposited Preferred Shares represented thereby. (b) If fewer than all of the Depositary Shares evidenced by a Receipt are required to be surrendered for cancellation, the Depositary will deliver to the holder of such Receipt upon its surrender to the Depositary a new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not required to be surrendered for cancellation of the Depositary Shares represented thereby, and the Depositary will make appropriate adjustments in its records (as contemplated in Section 2.02) to reflect such conversion and cancellation (including the reduction of any fractional share of deposited Preferred Shares and the issuance of any Excess Preferred Shares).

Conversion of Preferred Shares into Excess Preferred Shares. (a) As provided in the Articles of Incorporation, upon the happening of certain events, certain Preferred Shares shall be automatically converted into Excess Preferred Shares. In the event of such a conversion, the Receipt representing the deposited Preferred Shares so converted shall no longer represent, to the extent of the shares so converted, such deposited Preferred Shares. Promptly upon its knowledge of the conversion of such deposited Preferred Shares into Excess Preferred Shares, the Company shall notify the Depositary in writing of such conversion, the number of deposited Preferred Shares so converted, and the identity of the holder of the Receipt Receipt(s) so affected, whereupon the Depositary shall promptly notify the holder of such Receipt Receipt(s) to surrender such Receipt(s) to the Depositary for cancellation of the number of Depositary Shares evidenced thereby equal to the converted deposited Preferred Shares represented thereby. (b) If fewer than all of the Depositary Shares evidenced by a Receipt are required to be surrendered for cancellation, the Depositary will deliver to the holder of such Receipt upon its surrender to the Depositary a new Receipt evidencing the Depositary Shares evidenced by such prior Receipt and not required to be surrendered for cancellation of the Depositary Shares represented thereby, and the Depositary will make appropriate adjustments in its records (as contemplated in Section 2.02) to reflect such conversion and cancellation (including the reduction of any fractional share of deposited Preferred Shares and the issuance of any Excess Preferred Shares).