Indian Residents. Notwithstanding the other provisions of this Plan of Arrangement, no share of Parent Common Stock, Replacement Option or Replacement SAR shall be issued in exchange for Company Common Shares, Company Options or Company SARs, as the case may be (as provided in Sections 2.2(b), 2.2(f) and 2.2(g) respectively) and no Company RSU shall be deemed to become a Parent RSU (as provided in Section 2.2(h)) where the holder of the Company Common Share, Company Option, Company SAR or Company RSU to be so exchanged is resident in India unless all required approvals of the Reserve Bank of India have been obtained. In the event such approvals cannot be obtained, the affected Company Options, Company SARs and Company RSUs shall be cancelled for no consideration and each Company Common Shareholder who is resident in India who would otherwise be entitled to receive shares of Parent Common Stock in exchange for their Company Common Shares will be entitled to receive a cash payment equal to the net proceeds after expenses received by the Depositary upon the sale of shares of Parent Common Stock to which such Company Common Shareholder would otherwise be entitled. The Depositary will sell such shares of Parent Common Stock by private sale (including by way of sale through the facilities of the NYSE) as soon as reasonably practicable following the Effective Date. The aggregate net proceeds after expenses of such sale will be distributed by the Depositary to the Company Common Shareholder who is resident in India who would otherwise be entitled to receive Parent Common Stock.
Indian Residents. Pls advise if this requirement tracks any existing/specific regulatory requirement and if there are any market standard payment restrictions re Indian Residents.
Indian Residents. Securities in respect of which the Reference Asset is an equity security listed or proposed to be listed on an Indian stock exchange ("Indian Participation Securities") may not be legally or beneficially owned by (i) a person that is a resident of the Republic of India within the meaning of Indian exchange control laws (an "Indian Resident"); (ii) a person who is a "non-resident Indian" (as such term is defined in the Foreign Exchange Management (Deposit) Regulations, 2000 (a "Non-Resident Indian"); (iii) a person whose controller is an Indian Resident or Non-Resident Indian at any time; or
