Global Depositaries Required; Eligibility. At all times when there is a Book-Entry Depositary and a Note Custodian hereunder, each of them shall be a corporation organized and doing business under the laws of a jurisdiction other than Ireland having, together with its parent, a combined capital and surplus of at least $250,000,000, subject to supervision or examination by the relevant governmental or regulatory authority, and willing to act on reasonable terms. Such corporation will have its principal place of business in New York City, as the case may be, if there be such a corporation in such location willing to act upon reasonable and customary terms and conditions. If such corporation, or its parent, publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 3.05, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Book-Entry Depositary or the Note Custodian shall cease to be eligible in accordance with the provisions of this Section 3.05, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. The Book-Entry Depositary shall have executed a Letter of Representations to DTC acceptable in form and substance to DTC and the Issuer with respect to the Certificateless Book-Entry Interests.
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Samples: Dollar Deposit and Custody Agreement (MDCP Acquisitions I), Deposit and Custody Agreement (MDCP Acquisitions I)
Global Depositaries Required; Eligibility. At all times when there is a Book-Entry entry Depositary and a Senior Subordinated Note Custodian hereunder, each of them shall be a corporation organized and doing business under the laws of a jurisdiction other than the Republic of Ireland having, together with its parent, a combined capital and surplus of at least $250,000,00050,000,000, subject to supervision or examination by the relevant governmental or regulatory authority, and willing to act on reasonable terms. Such corporation will have its principal place of business in New York CityLondon, as the case may be, England if there be such a corporation in such location willing to act upon reasonable and customary terms and conditions. If such corporation, or its parent, publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 3.05, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Book-Entry entry Depositary or the Senior Subordinated Note Custodian shall cease to be eligible in accordance with the provisions of this Section 3.05, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. The Book-Entry Depositary shall have executed a Letter of Representations to DTC acceptable in form and substance to DTC and the Issuer with respect to the Certificateless Book-Entry Interests.
Appears in 1 contract
Samples: Euro Senior Subordinated Deposit and Custody Agreement (Valentia Telecommunications)
Global Depositaries Required; Eligibility. At all times when there is a Book-Entry entry Depositary and a Senior Subordinated Note Custodian hereunder, each of them shall be a corporation organized and doing business under the laws of a jurisdiction other than the Republic of Ireland having, together with its parent, a combined capital and surplus of at least $250,000,00050,000,000, subject to supervision or examination by the relevant governmental or regulatory authority, and willing to act on reasonable terms. Such corporation will have its principal place of business in New York CityLondon, as the case may be, England if there be such a corporation in such location willing to act upon reasonable and customary terms and conditions. If such corporation, or its parent, publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 3.05, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Book-Entry entry Depositary or the Senior Subordinated Note Custodian shall cease to be eligible in accordance with the provisions of this Section 3.05, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. The Book-Entry Depositary shall have executed a Letter of Representations to DTC acceptable in form and substance to DTC and the Issuer with respect to the Certificateless Book-Entry Interests.
Appears in 1 contract
Samples: Dollar Senior Subordinated Deposit and Custody Agreement (Valentia Telecommunications)
Global Depositaries Required; Eligibility. At all times when there is a Book-Entry Depositary and a Note Custodian hereunder, each of them shall be a corporation organized and doing business under the laws of a jurisdiction other than Ireland having, together with its parent, a combined capital and surplus of at least $250,000,000, subject to supervision or examination by the relevant governmental or regulatory authority, and willing to act on reasonable terms. Such corporation will have its principal place of business in New York City, as the case may be, if there be such a corporation in such location willing to act upon reasonable and customary terms and conditions. If such corporation, or its parent, publishes reports of condition at least annually, pursuant to law or to the requirements of the aforesaid supervising or examining authority, then for the purposes of this Section 3.05, the combined capital and surplus of such corporation shall be deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. If at any time the Book-Entry Depositary or the Note Custodian shall cease to be eligible in accordance with the provisions of this Section 3.05, it shall resign immediately in the manner and with the effect hereinafter specified in this Article. The Book-Entry Depositary Issuer shall have executed a Letter of Representations to DTC acceptable in form and substance to DTC and the Issuer with respect to the Certificateless Book-Entry Interests.
Appears in 1 contract
Samples: Dollar Deposit and Custody Agreement (JSG Acquisitions I)