Common use of LIABILITY OF THE COMPANY AND DEPOSITARY Clause in Contracts

LIABILITY OF THE COMPANY AND DEPOSITARY. Neither the Depositary nor the Company nor any of their respective directors, agents or controlling persons (as defined under the Securities Act of 1933) will incur any liability to any Holder or Beneficial Owner, or any other person if by reason of any provision of any present or future law of the United States or The Republic of France or any country or jurisdiction or of any other governmental or regulatory authority, or stock exchange or by reason of any provision, present or future, of the Statuts of the Company, or by reason of any provision of any securities issued or distributed by the Company, or any offering or distribution thereof, or by reason of any act of God or war or terrorism or other circumstances beyond its control, the Depositary or the Company or any of their respective directors, agents or controlling persons (as defined under the Securities Act of 1933) shall be prevented, delayed or forbidden from, or be subject to any civil or criminal liability on account of, doing or performing any act or thing which by the terms of the Deposit Agreement or the Deposited Securities it is provided shall be done or performed; nor shall the Depositary or the Company or any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) incur any liability to any Holder, Beneficial Owner or any other person by reason of any nonperformance or delay, caused as aforesaid, in performance of any act or thing which by the terms of the Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in the Deposit Agreement. Neither the Company nor the Depositary nor any of their respective directors, agents or controlling persons (as defined under the Securities Act of 1933) assumes any obligation or shall be subject to any liability under the Deposit Agreement to Holders, Beneficial Owners or other persons except that each of them agrees to use its best judgment and to act in good faith in the performance of such duties as are specifically set forth in the Deposit Agreement. Neither the Depositary nor the Company nor any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) will be under any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities or in respect of the American Depositary Shares, which in their respective opinions may involve them in expense or liability, unless indemnity satisfactory to them against all expense and liability be furnished as often as may be required, and no Custodian will be under any obligation whatsoever with respect to such proceedings, the responsibility of the Custodian being solely to the Depositary. Neither the Depositary nor the Company or any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) will be liable for any action or inaction by it in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder of American Depositary Shares, or any other person believed by it in good faith to be competent to give such advice or information.

LIABILITY OF THE COMPANY AND DEPOSITARY. Neither the Depositary nor the Company nor any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) will shall incur any liability to any Holder Owner or Beneficial Owner, or any other person if by reason of any provision of any present or future law law, rule, regulation, fiat, order or decree of the United States or States, The Republic of France or any country or jurisdiction other country, or of any other governmental or regulatory authority, authority or stock exchange or market or automated quotation system, or by reason of any provision, present or future, of the Statuts of the Company, Company or by reason of any provision of any securities issued or distributed by the Company, or any offering or distribution thereof, or by reason of any act of God or war or God, war, terrorism or other circumstances beyond its their control, the Depositary or the Company or any of their respective directors, agents or controlling persons (as defined under the Securities Act of 1933) shall be prevented, delayed prevented or forbidden from, or delayed in, or be subject to any civil or criminal liability penalty on account of, doing or performing any act or thing which by the terms of the this Deposit Agreement or the Deposited Securities it is provided shall be done or performed; nor shall the Depositary or the Company (or any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933)) incur any liability to any Holder, Owner or Beneficial Owner or any other person by reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing which by the terms of the this Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement (including, without limitation, any failure to determine that any distribution or action may be lawful or reasonably practicable) or the Statuts of the Company. Where, by the terms of a distribution pursuant to Sections 4.01, 4.02 or 4.03 of the Deposit Agreement. Neither , or an offering or distribution pursuant to Section 4.04 of the Company nor Deposit Agreement, or for any other reason, the Depositary nor is prevented or prohibited from making such distribution or offering available to Owners, and the Depositary is prevented or prohibited from disposing of such distribution or offering on behalf of such Owners and making the net proceeds available to such Owners, then the Depositary shall not make such distribution or offering, and shall allow any of their respective rights, if applicable, to lapse. The Company and its directors, employees, agents or and controlling persons (as defined under the Securities Act of 1933) assumes any assume no obligation or nor shall they be subject to any liability under the Deposit Agreement to Holders, Beneficial Owners or other persons Beneficial Owners, except that each of them the Company agrees to use perform its best judgment and to act in good faith in the performance of such duties as are obligations specifically set forth in the Deposit AgreementAgreement without gross negligence or willful misconduct. The Depositary and its directors, employees, agents and controlling persons (as defined under the Securities Act of 1933) assume no obligation nor shall they be subject to any liability under the Deposit Agreement to any Owners or Beneficial Owners (including, without limitation, liability with respect to the validity or worth of the Deposited Securities), except that the Depositary agrees to perform its obligations specifically set forth in the Deposit Agreement without gross negligence or willful misconduct. Neither the Depositary nor the Company nor any of their respective directors, employees, employees agents or and controlling persons (as defined under the Securities Act of 1933) will shall be under any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities or in respect of the American Depositary SharesReceipts, which in their respective opinions its opinion may involve them it in expense or liability, unless indemnity satisfactory to them it against all expense and liability shall be furnished as often as may be required, and no Custodian will the Custodians shall not be under any obligation whatsoever with respect to such proceedings, the responsibility of the Custodian Custodians being solely to the Depositary. Neither the Depositary nor the Company or nor any of their respective directors, employees, employees agents or and controlling persons (as defined under the Securities Act of 1933) will shall be liable for any action or inaction by it in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder of American Depositary Shares, Owner or any other person believed by it in good faith to be competent to give such advice or information. The Depositary shall not be responsible for any failure to carry out any instructions to vote any of the Deposited Securities or for the manner in which any such vote is cast (provided that any such action or inaction is in good faith) or for the effect of any such vote.

LIABILITY OF THE COMPANY AND DEPOSITARY. Neither the Depositary nor the Company nor any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) will incur any liability to any Holder or Beneficial Ownerof this Receipt, or any other person if by reason of any provision of any present or future law of the United States or The Republic of France or any country or jurisdiction or of any other governmental or regulatory authority, or stock exchange or by reason of any provision, present or future, of the Statuts of the Company, or by reason of any provision of any securities issued or distributed by the Company, or any offering or distribution thereof, or by reason of any act of God or war or terrorism or other circumstances beyond its control, the Depositary or the Company or any of their respective directors, agents or controlling persons (as defined under the Securities Act of 1933) shall be prevented, delayed or forbidden from, or be subject to any civil or criminal liability on account of, doing or performing any act or thing which by the terms of the Deposit Agreement or the Deposited Securities it is provided shall be done or performed; nor shall the Depositary or the Company or any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) incur any liability to any Holdershall be prevented or forbidden from, Beneficial Owner or any other person by reason of any nonperformance delayed in doing or delay, caused as aforesaid, in performance of performing any act or thing which by the terms terns of the Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in the Deposit Agreement. Neither the Company nor the Depositary nor any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) assumes any obligation or shall be subject to any liability under the Deposit Agreement to HoldersHolders of Receipts, Beneficial Owners or other persons except that each of them agrees to use its best judgment and to act in good faith in the performance of such duties as are specifically set forth in the Deposit Agreement. Neither the Depositary nor the Company nor any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) will be under any obligation to appear in, prosecute or defend any action, suit or other proceeding in respect of any Deposited Securities or in respect of the American Depositary Shares, which in their respective opinions may involve them in expense or liability, unless indemnity satisfactory to them against all expense and liability be furnished as often as may be required, and no Custodian will be under any obligation whatsoever with respect to such proceedings, the responsibility of the Custodian being solely to the Depositary. Neither the Depositary nor the Company or any of their respective directors, employees, agents or controlling persons (as defined under the Securities Act of 1933) will shall be liable for any action or inaction by it in reliance upon the advice of or information from legal counsel, accountants, any person presenting Shares for deposit, any Holder of American Depositary Sharesa Receipt, or any other person believed by it in good faith to be competent to give such advice or information. The Company agrees to indemnify and hold harmless the Depositary and each Custodian against, and hold each of them harmless from, any liability or expense which may arise in connection with the offer, issuance, sale, resale, withdrawal or transfer of Receipts or Shares or which may arise out of acts performed or omitted, in accordance with the provisions of the Deposit Agreement and of the Receipts, as the same may be amended, modified or supplemented from time to time, (i) by either the Depositary or any Custodian, except for any liability or expense arising out of the negligence or bad faith of either of them, or (ii) by the Company or any of its agents.