Common use of Elective Distributions Clause in Contracts

Elective Distributions. Whenever the Company intends to distribute a dividend payable at the election of the holders of Shares in cash or in additional Shares, the Company shall give timely prior notice thereof to the Depositary stating whether or not it wishes such elective distribution to be made available to Holders of Regulation S GDRs. Upon timely receipt of a notice indicating that the Company wishes such elective distribution to be made available to Holders of Regulation S GDRs, the Depositary shall determine, and the Company shall assist the Depositary in its determination, whether it is lawful and reasonably practicable to make such elective distribution available to the Holders of Regulation S GDRs. The Depositary shall make such elective distribution available to Holders only if the Depositary shall have (i) received timely prior written notice from the Company of the elective distribution, (ii) determined that such distribution is reasonably practicable, and (iii) received satisfactory documentation within the terms of Section 5.8 hereof. If the above conditions are not satisfied or if the Company requests that such elective distribution not be made available to Holders of Regulation S GDRs, the Depositary shall, to the extent permitted by law, distribute to the Holders, on the basis of the same determination as is made in Russia in respect of the Shares for which no election is made, either (X) cash upon the terms described in Section 4.1 hereof or (Y) additional Regulation S GDRs representing such additional Shares upon the terms described in Section 4.2 hereof. If the above conditions are satisfied, the Depositary shall establish a Regulation S GDR Record Date and establish procedures to enable Holders to elect the receipt of the proposed dividend in cash or in additional Regulation S GDRs. The Company shall assist the Depositary in establishing such procedures to the extent necessary. If a Holder elects to receive the proposed dividend (X) in cash, the dividend shall be distributed upon the terms described in Section 4.1 hereof, or (Y) in Regulation S GDRs, the dividend shall be distributed upon the terms described in Section 4.2 hereof. Nothing in this Regulation S Deposit Agreement shall obligate the Depositary to make available to Holders a method to receive the elective dividend in Shares (rather than Regulation S GDRs). There can be no assurance that Holders and Beneficial Owners generally, or any Holder or Beneficial Owner in particular, will be given the opportunity to receive elective distributions on the same terms and conditions as the holders of the Regulation S Deposited Securities.

Elective Distributions. Whenever the Company intends to distribute a dividend payable at the election of the holders of Shares in cash or in additional Shares, the Company shall give timely prior notice thereof to the Depositary at least forty five (45) days prior to the proposed distribution stating whether or not it wishes such elective distribution to be made available to Holders of Regulation S GDRsRule 144A GDSs. Upon timely receipt of a notice indicating that the Company wishes such elective distribution to be made available to Holders of Regulation S GDRsRule 144A GDSs, the Depositary shall consult with the Company to determine, and the Company shall assist the Depositary in its determination, whether it is lawful and reasonably practicable to make such elective distribution available to the Holders of Regulation S GDRsRule 144A GDSs. The Depositary shall make such elective distribution available to Holders only if the Depositary shall have (i) received timely prior written notice from the Company of the elective distribution, (ii) determined that such distribution is reasonably practicable, practicable and (iiiii) received satisfactory documentation within the terms of Section 5.8 hereof5.8. If the above conditions are not satisfied or if the Company requests that such elective distribution not be made available to Holders of Regulation S GDRsRule 144A GDSs, the Depositary shall, to the extent permitted by law, distribute to the Holders, on the basis of the same determination as is made in Russia Brazil in respect of the Shares for which no election is made, either (X) cash upon the terms described in Section 4.1 hereof or (Y) additional Regulation S GDRs Rule 144A GDSs representing such additional Shares upon the terms described in Section 4.2 hereof4.2. If the above conditions are satisfied, the Depositary shall establish a Regulation S GDR Rule 144A GDS Record Date and establish procedures to enable Holders to elect the receipt of the proposed dividend in cash or in additional Regulation S GDRsRule 144A GDSs. The Company shall assist the Depositary in establishing such procedures to the extent necessary. If a Holder elects to receive the proposed dividend (X) in cash, the dividend shall be distributed upon the terms described in Section 4.1 hereof4.1, or (Y) in Regulation S GDRsRule 144A GDSs, the dividend shall be distributed upon the terms described in Section 4.2 hereof4.2. Nothing in this Regulation S Deposit Agreement herein shall obligate the Depositary to make available to Holders a method to receive the elective dividend in Shares (rather than Regulation S GDRsRule 144A GDSs). There can be no assurance that Holders and Beneficial Owners generally, or any Holder or Beneficial Owner in particular, will be given the opportunity to receive elective distributions on the same terms and conditions as the holders of the Regulation S Rule 144A Deposited Securities.

Elective Distributions. Whenever the Company intends to distribute a dividend payable at the election of the holders of Shares in cash or in additional Shares, the Company shall give timely prior notice thereof to the Depositary stating whether or not it wishes such elective distribution to be made available to Holders of Regulation S Rule 144A GDRs. Upon timely receipt of a notice indicating that the Company wishes such elective distribution to be made available to Holders of Regulation S Rule 144A GDRs, the Depositary shall determine, and the Company shall assist the Depositary in its determination, whether it is lawful and reasonably practicable to make such elective distribution available to the Holders of Regulation S Rule 144A GDRs. The Depositary shall make such elective distribution available to Holders only if the Depositary shall have (i) received timely prior written notice from the Company of the elective distribution, (ii) determined that such distribution is reasonably practicable, and (iii) received satisfactory documentation within the terms of Section 5.8 hereof. If the above conditions are not satisfied or if the Company requests that such elective distribution not be made available to Holders of Regulation S Rule 144A GDRs, the Depositary shall, to the extent permitted by law, distribute to the Holders, on the basis of the same determination as is made in Russia in respect of the Shares for which no election is made, either (X) cash upon the terms described in Section 4.1 hereof or (Y) additional Regulation S Rule 144A GDRs representing such additional Shares upon the terms described in Section 4.2 hereof. If the above conditions are satisfied, the Depositary shall establish a Regulation S Rule 144A GDR Record Date and establish procedures to enable Holders to elect the receipt of the proposed dividend in cash or in additional Regulation S Rule 144A GDRs. The Company shall assist the Depositary in establishing such procedures to the extent necessary. If a Holder elects to receive the proposed dividend (X) in cash, the dividend shall be distributed upon the terms described in Section 4.1 hereof, or (Y) in Regulation S Rule 144A GDRs, the dividend shall be distributed upon the terms described in Section 4.2 hereof. Nothing in this Regulation S Rule 144A Deposit Agreement shall obligate the Depositary to make available to Holders a method to receive the elective dividend in Shares (rather than Regulation S Rule 144A GDRs). There can be no assurance that Holders and Beneficial Owners generally, or any Holder or Beneficial Owner in particular, will be given the opportunity to receive elective distributions on the same terms and conditions as the holders of the Regulation S Rule 144A Deposited Securities.

Elective Distributions. Whenever Subject to applicable Korean law, whenever the Company intends to distribute make a dividend distribution payable at the election of the holders of Shares in cash or in additional SharesShares other than as provided in Sections 4.01 or 4.02, the Company shall give timely prior notice thereof to the Depositary stating whether or not it wishes such elective distribution to be made available to Holders of Regulation S GDRsGDSs. Upon timely receipt of a notice indicating that the Company wishes such elective distribution to be made available to Holders of Regulation S GDRsGDSs, the Depositary shall consult with the Company to determine, and the Company shall assist the Depositary in its determination, whether it is lawful and reasonably practicable commercially feasible to make such elective distribution available to the Holders of Regulation S GDRsGDSs. The Depositary shall make such elective distribution available to Holders only if (i) the Company shall have timely requested that the elective distribution be made available to Holders, (ii) the Depositary shall have (i) received timely prior written notice from the Company of the elective distribution, (ii) determined that such distribution is reasonably practicable, commercially feasible and (iii) the Depositary shall have received satisfactory documentation within the terms of Section 5.8 hereof5.08. If the above conditions are not satisfied or if the Company requests that such elective distribution not be made available to Holders of Regulation S GDRssatisfied, the Depositary shall, to the extent permitted by law, distribute to the Holders, on the basis of the same determination as is made in Russia Korea in respect of the Shares for which no election is made, either (X) cash upon the terms described in Section 4.1 hereof 4.01 or (Y) additional Regulation S GDRs GDSs representing such additional Shares upon the terms described in Section 4.2 hereof4.02 (provided that in the case of (Y), the Shares have been deposited pursuant to Section 4.02). If the above conditions are satisfied, the Depositary shall establish a Regulation S GDR Record Date record date (on the terms described in Section 4.09) and establish procedures to enable Holders to elect the receipt of the proposed dividend distribution in cash or in additional Regulation S GDRsGDSs. The Company shall assist the Depositary in establishing such procedures to the extent necessary. If a Holder elects to receive the proposed dividend (X) in cash, the dividend shall be distributed upon the terms described in Section 4.1 hereof, or (Y) in Regulation S GDRs, the dividend shall be distributed upon the terms described in Section 4.2 hereof. Nothing in this Regulation S Deposit Agreement herein shall obligate the Depositary to make available to Holders a method to receive the elective dividend distribution in Shares (rather than Regulation S GDRs)GDSs) if the conditions set forth above are not satisfied. There can be no assurance that Holders and Beneficial Owners generally, or any Holder or Beneficial Owner in particular, will be given the opportunity to receive elective distributions on the same terms and conditions as the holders of the Regulation S Deposited Securities.