Common use of The Custodians Clause in Contracts

The Custodians. The Depositary has appointed Credit Suisse AG as a Custodian under this Deposit Agreement. The Custodian shall be subject at all times and in all respects to the directions of the Depositary and shall be responsible solely to it. Credit Suisse AG shall be a sole Custodian under this Deposit Agreement so long as it continues to offer custodial services; the Depositary may appoint an additional custodian or custodians with the consent of the Company (which consent shall not be unreasonably withheld), each of which shall thereafter be one of the Custodians under this Deposit Agreement. If the Depositary receives notice that a Custodian is resigning and, upon the effectiveness of that resignation there would be no Custodian acting under this Deposit Agreement, the Depositary shall, as promptly as practicable after receiving that notice, appoint a substitute custodian or custodians, each of which shall thereafter be a Custodian under this Deposit Agreement. The Depositary shall require any Custodian that resigns or is removed to deliver all Deposited Securities held by it to another Custodian.

Appears in 3 contracts

Samples: Deposit Agreement (Bank of New York / Adr Division), Deposit Agreement (Bank of New York / Adr Division), Deposit Agreement (Bank of New York / Adr Division)

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The Custodians. The Depositary has appointed Credit Suisse AG as a Custodian under this Deposit Agreement. The Custodian shall be subject at all times and in all respects to the directions of the Depositary and shall be responsible solely to it. Credit Suisse AG , and the Depositary shall be a sole responsible for the Custodian’s compliance with the applicable provisions of this Deposit Agreement, but only to for the failure of the Custodian under to perform its duties specifically set forth in this Deposit Agreement so long as it continues to offer custodial services; the without negligence or bad faith. The Depositary in its discretion may at any time appoint an a substitute or additional custodian or custodians with the consent of the Company (which consent shall not be unreasonably withheld)custodians, each of which shall thereafter be one of the Custodians under this Deposit Agreement. If the Depositary receives notice that a Custodian is resigning and, upon the effectiveness of that resignation there would be no Custodian acting under this Deposit Agreement, the Depositary shall, as promptly as practicable after receiving that notice, appoint a substitute custodian or custodians, each of which shall thereafter be a Custodian under this Deposit Agreement. The Depositary shall require any Custodian that resigns or is removed to deliver all Deposited Securities held by it to another Custodian.

Appears in 1 contract

Samples: Deposit Agreement (Bank of New York / Adr Division)

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