Common use of Share Withdrawal Clause in Contracts

Share Withdrawal. The Depositary has been advised that, under FEFTA as in effect as of the date of the Deposit Agreement, if the Company or any of its FEFTA Covered Entities does engage in certain FEFTA Designated Businesses restricted as to “specific acquisition (tokutei shutoku)” by Foreign Investors, any Foreign Investor expecting to receive delivery of Shares upon surrender of ADSs to the Depositary for cancellation may need to make a FEFTA Notification under the FEFTA to the applicable Japanese governmental authorities and wait for Satisfactory Expiration of the FEFTA Statutory Waiting Period, in each case in respect of the Shares proposed to be withdrawn prior to accepting delivery of the Shares intended to be withdrawn upon surrender of ADSs to the Depositary for cancellation. As a result, the Depositary agrees that, if the Company has informed the Depositary that the Company or any of its FEFTA Covered Entities does engage in certain FEFTA Designated Businesses restricted as to “specific acquisition (tokutei shutoku)” by Foreign Investors, the Depositary will not accept ADSs by or for a “Foreign Investor” for cancellation for the purpose of withdrawal of Shares unless and until it receives satisfactory assurances that any required FEFTA Notification has been made by the applicable Foreign Investor and Satisfactory Expiration of the FEFTA Statutory Waiting Period has occurred, in each case in respect of the Shares proposed to be withdrawn and delivered to a Foreign Investor.

Appears in 3 contracts

Samples: Deposit Agreement (Citibank,N.A./ADR), Deposit Agreement (HW Electro Co., Ltd.), Deposit Agreement (HW Electro Co., Ltd.)

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Share Withdrawal. The Depositary has been advised that, under FEFTA as in effect as of the date of the Deposit Agreement, if the Company or any of its FEFTA Covered Entities does engage in certain FEFTA Designated Businesses restricted as to “specific acquisition (tokutei shutoku)” by Foreign Investors, any Foreign Investor expecting to receive delivery of Shares upon surrender of ADSs to the Depositary for cancellation may need to make a FEFTA Notification under the FEFTA to the applicable Japanese governmental authorities and wait for Satisfactory Expiration of the FEFTA Statutory Waiting Period, in each case in respect of the Shares proposed to be withdrawn prior to accepting delivery of the Shares intended to be withdrawn upon surrender of ADSs to the Depositary for cancellation. As a result, the Depositary agrees that, if the Company has informed the Depositary that the Company or any of its FEFTA Covered Entities does engage in certain FEFTA Designated Businesses restricted as to “specific acquisition (tokutei shutoku)” by Foreign Investors, the Depositary will not accept ADSs by or for a Foreign Investor” Investor for cancellation for the purpose of withdrawal of Shares unless and until it receives satisfactory assurances that any required FEFTA Notification has been made by the applicable Foreign Investor and Satisfactory Expiration of the FEFTA Statutory Waiting Period has occurred, in each case in respect of the Shares proposed to be withdrawn and delivered to a Foreign Investor.

Appears in 2 contracts

Samples: Deposit Agreement (Citibank,N.A./ADR), Deposit Agreement (HW Electro Co., Ltd.)

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