Common use of Delivery of Information to the CVM and the Central Bank Clause in Contracts

Delivery of Information to the CVM and the Central Bank. Each of the Depositary and the Company hereby confirms to the other that for as long as the Deposit Agreement is in effect, it shall furnish the CVM and the Central Bank, at any time and within the period that may be determined, with any information and documents related to the American Depositary Receipt program and the Receipts issued hereunder. . In the event that the Depositary or the Custodian shall be advised in writing by reputable independent Brazilian counsel that the Depositary or Custodian reasonably could be subject to criminal, or material, as reasonably determined by the Depositary, civil, liabilities as a result of the Company having failed to provide such information or documents reasonably available only through the Company, the Depositary shall have the right to terminate this Deposit Agreement, upon at least 30 days’ prior notice to the Owners and the Company, and the Depositary shall not be subject to any liability hereunder on account of such termination or such determination. In the event that the Company shall be advised in writing by reputable independent Brazilian counsel that the Company could be subject to criminal, or material, as reasonably determined by the Company, civil, liability as a result of the Depositary having failed to provide such information or documents reasonably available only through the Depositary, the Company shall have the right to instruct the Depositary to terminate this Deposit Agreement, upon at least 30 days’ prior notice to the Depositary, and the Company shall not be subject to any liability hereunder on account of such termination or such determination. The effect of any such termination of this Deposit Agreement shall be as provided in Section 6.02.

Appears in 3 contracts

Samples: Deposit Agreement (Bank of New York / Adr Division), Deposit Agreement (Bank of New York / Adr Division), Deposit Agreement (Bank Bradesco)

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Delivery of Information to the CVM and the Central Bank. Each of the Depositary and the Company hereby confirms to the other that for as long as the this Deposit Agreement is in effect, it shall furnish the CVM and the Central Bank, at any time and within the period that may be determined, with any information and documents related to the American Depositary Receipt program and the Receipts issued hereunder. . In the event that the Depositary or the Custodian shall be advised in writing by reputable independent Brazilian counsel that the Depositary or Custodian reasonably could be subject to criminal, or material, as reasonably determined by the Depositary, civil, liabilities as a result of the Company having failed to provide such information or documents reasonably available only through the Company, the Depositary shall have the right to terminate this Deposit Agreement, upon at least 30 days’ prior notice to the Owners and the Company, and the Depositary shall not be subject to any liability hereunder on account of such termination or such determination. In the event that the Company shall be advised in writing by reputable independent Brazilian counsel that the Company could be subject to criminal, or material, as reasonably determined by the Company, civil, liability as a result of the Depositary having failed to provide such information or documents reasonably available only through the Depositary, the Company shall have the right to instruct the Depositary to terminate this Deposit Agreement, upon at least 30 days’ prior notice to the Depositary, and the Company shall not be subject to any liability hereunder on account of such termination or such determination. The effect of any such termination of this Deposit Agreement shall be as provided in Section 6.02.

Appears in 2 contracts

Samples: Deposit Agreement (Bank of New York / Adr Division), Deposit Agreement (Bank of New York / Adr Division)

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