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 In the event of such a conversion, the Receipt representing the deposited Preferred Shares so converted shall no longer represent, to the extent of the shares so converted, such deposited Preferred Shares.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.

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 In the event of such a conversion, the Receipt representing the deposited Preferred Shares so converted shall no longer represent, to the extent of the shares so converted, such deposited Preferred Shares.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.such

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 In the event of such a conversion, the Receipt representing the deposited Preferred Shares so converted shall no longer represent, to the extent of the shares so converted, such deposited Preferred Shares.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.

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.