Common use of Resignation and Removal of Depositary; Substitution of Custodian Clause in Contracts

Resignation and Removal of Depositary; Substitution of Custodian. The Depositary may at any time resign as Depositary hereunder by written notice of its election so to do delivered to the Company, such resignation to take effect upon the earlier of the 60th day after such delivery or the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. The Depositary may at any time be removed by the Company by written notice of such removal, effective upon the earlier of the 60th day after delivery thereof to the Depositary and the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. Whenever the Depositary in its discretion determines that it is in the best interest of the Holders of Receipts to do so, it may appoint a substitute or additional Custodian or Custodians.

Appears in 2 contracts

Samples: Deposit Agreement (Deutsche Bank Trust Co Americas/ ADR Group), Deposit Agreement (Stolt Offshore S A)

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Resignation and Removal of Depositary; Substitution of Custodian. The Depositary may at any time resign as Depositary hereunder under the Deposit Agreement by 60 days' prior written notice of its election so to do delivered to the Company, such resignation to take effect upon the earlier of the 60th day after such delivery or the appointment of a qualified successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. The Depositary may at any time be removed by the Company by 60 days' prior written notice of such removal, which will become effective upon the earlier of the 60th day after delivery thereof to the Depositary and the appointment of a qualified successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. Whenever The Depositary may, after consultation with the Depositary in its discretion determines that it is in the best interest of the Holders of Receipts to do soCompany, it may appoint a substitute or an additional Custodian custodian and the term "Custodian" shall also refer to such substitute or Custodiansadditional custodian.

Appears in 2 contracts

Samples: Deposit Agreement (Tata Motors LTD/Fi), 144a Deposit Agreement (Tata Motors LTD/Fi)

Resignation and Removal of Depositary; Substitution of Custodian. The Depositary may at any time resign as Depositary hereunder under the Deposit Agreement by 60 days' prior written notice of its election so to do delivered to the Company, such resignation to take effect upon the earlier of the 60th day after such delivery or the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. The Depositary may at any time be removed by the Company by 60 days' prior written notice of such removal, which shall become effective upon the earlier of the 60th day after delivery thereof to the Depositary and the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. Whenever The Depositary may, after consultation with the Depositary in its discretion determines that Company, when it is reasonably appears to be in the best interest of the Holders of Receipts to do so, it may appoint a substitute or an additional Custodian custodian and the term "Custodian" shall also refer to such substitute or Custodiansadditional custodian.

Appears in 2 contracts

Samples: Deposit Agreement (Kt Corp), Deposit Agreement (Kt Corp)

Resignation and Removal of Depositary; Substitution of Custodian. The Depositary may at any time resign as Depositary hereunder under the Deposit Agreement by ninety (90) days’ prior written notice of its election so to do delivered to the Company, such resignation to take effect upon the earlier of the 60th day after such delivery or the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. The Depositary may at any time be removed by the Company by ninety (90) days’ prior written notice of such removal, which shall become effective upon the earlier of the 60th day after delivery thereof to the Depositary and the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. Whenever The Depositary may after consultation with the Depositary in its discretion Company, when it determines that it is in the best interest of the Holders of Receipts appropriate to do so, it may appoint a substitute or an additional Custodian custodian and the term “Custodian” shall also refer to such substitute or Custodiansadditional custodian.

Appears in 1 contract

Samples: Deposit Agreement (Citibank,N.A./ADR)

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Resignation and Removal of Depositary; Substitution of Custodian. The Depositary may at any time resign as Depositary hereunder under the Deposit Agreement by 60 days’ prior written notice of its election so to do so delivered to the Company, such resignation to take effect upon the earlier of the 60th day after such delivery or the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. The Depositary may at any time be removed by the Company by 60 days’ prior written notice of such removal, which shall become effective upon the earlier of the 60th day after delivery thereof to the Depositary and the appointment of a successor depositary and its acceptance of such appointment as provided in the Deposit Agreement. Whenever The Depositary may, after consultation with the Depositary in its discretion determines that Company, when it is reasonably appears to be in the best interest of the Holders of Receipts to do so, it may appoint a substitute or an additional Custodian custodian and the term “Custodian” shall also refer to such substitute or Custodiansadditional custodian.

Appears in 1 contract

Samples: Deposit Agreement (Sk Telecom Co LTD)

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