Common use of TITLE TO RECEIPTS Clause in Contracts

TITLE TO RECEIPTS. It is a condition of this Receipt, and every successive Holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and for all other purposes, and neither the Depositary nor the Company shall have the obligations or be subject to any liability hereunder or under the Deposit Agreement to any holder of a Receipt unless such holder is a Holder thereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Holder Owner and Beneficial Owner of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfertransfer and transferred in accordance with the terms of the Deposit Agreement, including without limitation Sections 2.04 and 2.06 thereof, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Company Depositary and the DepositaryCompany, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall have the obligations any obligation or be subject to any liability hereunder or under the Deposit Agreement to any holder of a this Receipt unless such holder is a Holder thereofthe Owner hereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Holder Owner and holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfertransfer and transferred in accordance with the terms of the Deposit Agreement, is transferable by delivery with the same effect as in the case of a negotiable instrumentinstrument in accordance with the laws of the State of New York; provided, however, that the Company Issuer and the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company Issuer shall have the obligations any obligation or be subject to any liability hereunder or under the Deposit Agreement to any holder of a Receipt unless such holder is a Holder thereofthe Owner hereof.

TITLE TO RECEIPTS. It is a condition of this ReceiptADR, and every successive Holder of this Receipt ADR by accepting or holding the same consents and agrees, that title to this Receipt ADR (and to each American Depositary Share ADS evidenced hereby), when such Receipt ADR is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrumentinstrument under the laws of the State of New York; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and for all other purposes, and neither the Depositary nor the Company shall have the obligations or be subject to any liability hereunder or under the Deposit Agreement to any holder of a Receipt an ADR unless such holder is a Holder thereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, and every successive Holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may deem and treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and for all other purposes, and neither the Depositary nor the Company shall have the any obligations or be subject to any liability hereunder or under the Deposit Agreement to any holder of a Receipt unless such holder is a Holder thereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Holder Owner and Beneficial Owner of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each the American Depositary Share Shares evidenced herebythereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrumentinstrument under the laws of the State of New York; provided, however, that the Company Depositary and the DepositaryCompany, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall have the obligations any obligation or be subject to any liability hereunder or under the this Deposit Agreement to any holder of a Receipt unless such holder is a Holder the Owner thereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Holder Owner and holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfertransfer and transferred in accordance with the terms of the Deposit Agreement, is transferable by delivery with the same effect as in the case of a negotiable instrumentinstrument in accordance with the laws of the State of New York; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall have the obligations any obligation or be subject to any liability hereunder or under the Deposit Agreement to any holder of a Receipt unless such holder is a Holder thereofthe Owner hereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, and every successive Holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby)) , when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and for all other purposes, and neither the Depositary nor the Company shall have the any obligations or be subject to any liability hereunder or under the Deposit Agreement to any holder of a Receipt unless such holder is a Holder thereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, and every successive Holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and for all other purposes, and neither the Depositary nor the Company shall have the obligations obligation or be subject to any liability hereunder or under the Deposit Agreement to any holder of a Receipt unless such holder is a Holder thereof.. Dated: CITIBANK, N.A., Transfer Agent and Registrar CITIBANK, N.A., as Depositary By: By: Authorized Signatory Vice President

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Owner and Holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), ) when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person Person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person Person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall have the obligations any obligation or be subject to any liability hereunder or under the Deposit Agreement or this Receipt to any holder Holder of a Receipt unless such holder Holder is a Holder thereofthe Owner hereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, Re- ceipt and every successive Owner and Holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), ) when such Receipt is properly endorsed or accompanied ac- companied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; instrument provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person Person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person Person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall have the obligations any obligation or be subject to any liability hereunder or under the Deposit Agreement or this Receipt to any holder Holder of a Receipt unless such holder Holder is a Holder thereofthe Owner hereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Holder holder and Owner of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each the American Depositary Share Shares evidenced hereby), ) when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; , provided, however, that except as otherwise provided herein or in the Company and Deposit Agreement, the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any a distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall Issuer will have the obligations any obligation, or be subject to any liability hereunder or under the Deposit Agreement Agreement, to any holder of a Receipt this Receipt, unless such holder is a Holder thereofthe person in whose name this Receipt is registered on the books of the Depositary.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive holder and Holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfertransfer and transferred in accordance with the terms of the Deposit Agreement, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary (the “Holder”) as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and for all other purposes, purposes and neither the Depositary nor the Company shall will have the obligations any obligation or be subject to any liability hereunder or under the Deposit Agreement to any holder of a this Receipt unless such holder is a the registered Holder thereofhereof.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Holder holder and Owner of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each the American Depositary Share Shares evidenced hereby), ) when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; , provided, however, that except as otherwise provided herein or in the Company and Deposit Agreement, the Depositary, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any a distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall Issuer will have the obligations any obligation, or be subject to any liability hereunder or under the Deposit Agreement Agreement, to any holder of a Receipt this Receipt, unless such holder is a Holder thereofthe the person in whose name this Receipt is registered on the books of the Depositary.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Owner and Holder of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each American Depositary Share evidenced hereby), ) when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrument; provided, however, that the Company and the Depositary, notwithstanding any notice to the contrary, may treat the person Person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person Person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall have the obligations any obligation or be subject to any liability hereunder or under the Deposit Agreement or this Receipt to any holder Holder of a Receipt unless such holder Holder is a Holder thereofthe Owner hereof. 12.

TITLE TO RECEIPTS. It is a condition of this Receipt, Receipt and every successive Holder Owner and Beneficial Owner of this Receipt by accepting or holding the same consents and agrees, that title to this Receipt (and to each the American Depositary Share Shares evidenced herebythereby), when such Receipt is properly endorsed or accompanied by a proper instrument or instruments of transfer, is transferable by delivery with the same effect as in the case of a negotiable instrumentinstrument under the laws of the State of New York; provided, however, that the Company Depositary and the DepositaryCompany, notwithstanding any notice to the contrary, may treat the person in whose name this Receipt is registered on the books of the Depositary as the absolute owner hereof for the purpose of determining the person entitled to any distribution of dividends or other distributions or to any notice provided for in the Deposit Agreement and or for all other purposes, purposes and neither the Depositary nor the Company shall have the obligations any obligation or be subject to any liability hereunder or under the this Deposit Agreement to any holder of a Receipt unless such holder is a Holder the Owner thereof. 10.