Common use of DELIVERY OF INFORMATION TO THE CVM Clause in Contracts

DELIVERY OF INFORMATION TO THE CVM. 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 under the Deposit Agreement. 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 the 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 the Deposit Agreement, upon at least 30 days’ prior notice to the Depositary, and the Company shall not be subject to any liability thereunder on account of such termination or such determination. The effect of any such termination of the Deposit Agreement shall be as provided in Section 6.02 of the Deposit Agreement.

Appears in 5 contracts

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

AutoNDA by SimpleDocs

DELIVERY OF INFORMATION TO THE CVM. 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 Share program and the Receipts American Depositary Shares issued under the Deposit Agreementhereunder. In the event that the Depositary or the Custodian shall be is 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 the this Deposit Agreement, upon at least 30 15 days’ prior notice to the Owners and the Company, and the Depositary shall not be subject to any liability hereunder on account of such that termination or such that determination. In the event that the Company shall be is advised in writing by reputable independent Brazilian counsel that the Company reasonably could be subject to criminal, or material, as reasonably determined by the Company, civil, liability liabilities 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 the this Deposit Agreement, upon at least 30 15 days’ prior notice to the Depositary, and the Company shall not be subject to any liability thereunder hereunder on account of such termination or such determination. The effect of any such termination of the this Deposit Agreement shall be as provided in Section 6.02 of the Deposit Agreement6.2.

Appears in 1 contract

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

DELIVERY OF INFORMATION TO THE CVM. 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 Share program and the Receipts American Depositary Shares issued under the Deposit Agreementhereunder. In the event that the Depositary or the Custodian shall be is 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 the Deposit Agreement, upon at least 30 15 days’ prior notice to the Owners and the Company, and the Depositary shall not be subject to any liability hereunder on account of such that termination or such that determination. In the event that the Company shall be is advised in writing by reputable independent Brazilian counsel that the Company reasonably could be subject to criminal, or material, as reasonably determined by the Company, civil, liability liabilities 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 the Deposit Agreement, upon at least 30 15 days’ prior notice to the Depositary, and the Company shall not be subject to any liability thereunder hereunder on account of such termination or such determination. The effect of any such termination of the Deposit Agreement shall be as provided in Section 6.02 6.2. of the Deposit that Agreement.

Appears in 1 contract

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

AutoNDA by SimpleDocs

DELIVERY OF INFORMATION TO THE CVM. 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 under the Deposit Agreementhereunder. 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 the this Deposit Agreement, upon at least 30 15 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 the Deposit Agreement, upon at least 30 days’ prior notice to the Depositary, and the Company shall not be subject to any liability thereunder on account of such termination or such determination. The effect of any such termination of the this Deposit Agreement shall be as provided in Section 6.02 6.02. (ASSIGNMENT AND TRANSFER SIGNATURE LINES) NOTE: The signature to any endorsement hereon must correspond with the name as written upon the face of this Receipt in every particular, without alteration or enlargement or any change whatever. If the endorsement be executed by an attorney, executor, administrator, trustee or guardian, the person executing the endorsement must give his full title in such capacity and proper evidence of authority to act in such capacity, if not on file with the Depositary, must be forwarded with this Receipt. All endorsements or assignments of Receipts must be guaranteed by a New York Stock Exchange member firm or member of the Deposit AgreementClearing House of the American Stock Exchange Clearing Corporation or by a bank or trust company having an office or correspondent in the City of New York.

Appears in 1 contract

Samples: Deposit Agreement (Cesp Companhia Energetica De Sao Paulo /Fi)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!