Liability of Holder for Taxes. If any tax or other governmental charge shall become payable by the Custodian or the Depositary with respect to any Receipt or any Deposited Securities represented by any Receipt, such tax or other governmental charge shall be payable by the Holder of such Receipt to the Depositary and by holding or having held a Receipt such Holder (or prior Holder, as applicable) agrees to indemnify, defend and save harmless each of the Depositary and its agents in respect thereof. The Depositary may refuse to effect any transfer of this Receipt or any withdrawal of Deposited Securities represented by American Depositary Shares evidenced by such Receipt until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Holder hereof any part or all of the Deposited Securities represented by the American Depositary Shares evidenced by this Receipt, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge and the Holder hereof shall remain liable for any deficiency.
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Samples: Deposit Agreement (JPMorgan Chase Bank, N.A. - ADR Depositary), Deposit Agreement (JPMorgan Chase Bank, N.A. - ADR Depositary), Deposit Agreement (JPMorgan Chase Bank, N.A. - ADR Depositary)
Liability of Holder for Taxes. If any tax or other governmental charge shall become payable by the Custodian or the Depositary with respect to any this Receipt or with respect to any Deposited Securities represented by any ReceiptAmerican Depositary Shares evidenced hereby, such tax or other governmental charge shall be payable by the Holder of such Receipt hereof to the Depositary and by holding or having held a Receipt such Holder (or prior Holder, as applicable) agrees to indemnify, defend and save harmless each of the Depositary and its agents in respect thereofDepositary. The Depositary may deduct the amount of any taxes owed from any payments to the Holder hereof. The Depositary may restrict or refuse to effect any transfer of this Receipt or any combination or split-up hereof or any withdrawal of Deposited Securities represented by American Depositary Shares evidenced by such Receipt hereby until such payment is made, and may withhold any dividends or other distributions, distributions or may sell for the account of the Holder hereof any part or all of the Deposited Securities represented by the American Depositary Shares evidenced by this Receipt, Receipt and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge (and any taxes or expenses arising out of such sale), the Holder hereof shall remain remaining liable for any deficiency.
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Samples: Deposit Agreement (HSBC Holdings PLC), Deposit Agreement (HSBC Holdings PLC)
Liability of Holder for Taxes. If any tax or other governmental charge shall become payable by the Custodian or the Depositary with respect to any this Receipt or with respect to any Deposited Securities represented by American Depositary Shares of any Receiptother Series evidenced hereby, such tax or other governmental charge shall be payable by the Holder of such Receipt hereof to the Depositary and by holding or having held a Receipt such Holder (or prior Holder, as applicable) agrees to indemnify, defend and save harmless each of the Depositary and its agents in respect thereofDepositary. The Depositary may deduct the amount of any taxes owed from any payments to the Holder hereof. The Depositary may restrict or refuse to effect any transfer of this Receipt or any combination or split-up thereof or any withdrawal of Deposited Securities represented by American Depositary Shares evidenced by such Receipt hereby until such payment is made, and may withhold any dividends or other distributions, distributions or may sell for the account of the Holder hereof any part or all of the Deposited Securities represented by the American Depositary Shares evidenced by this Receipt, Receipt and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge (and any taxes or expenses arising out of such sale), the Holder hereof shall remain remaining liable for any deficiency.
Appears in 2 contracts
Samples: Deposit Agreement (HSBC Holdings PLC), Deposit Agreement (HSBC Holdings PLC)
Liability of Holder for Taxes. If any tax tax, duty or other governmental charge (including, without limitation, any applicable Stamp Taxes) or expense shall become payable by the Depositary or the Custodian or the Depositary its nominee with respect to any Receipt American Depositary Shares or any Deposited Securities represented by any ReceiptAmerican Depositary Shares, such tax tax, duty or other governmental charge or expense shall be payable by the Holder of such Receipt American Depositary Shares to the Depositary and by holding or having held a Receipt such Holder (or prior Holder, as applicable) agrees to indemnify, defend and save harmless each of the Depositary and its agents in respect thereofDepositary. The Depositary may refuse to effect registration of any transfer or surrender of this Receipt those American Depositary Shares or any withdrawal of Deposited Securities represented by those American Depositary Shares evidenced by such Receipt until such payment is made, and may withhold any cash dividends or other distributionscash distributions in respect of such Deposited Securities, or may sell for the account of the Holder hereof thereof any part or all of the Deposited Securities represented by the those American Depositary Shares evidenced by this ReceiptShares, and may apply such cash dividends or other cash distributions or the proceeds of any such sale in payment of any such tax tax, duty or other governmental charge or expense (and any taxes and expenses arising or incurred as a result of effecting any such sale), and the Holder hereof of such American Depositary Shares shall remain liable for any deficiency.
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