Certain Rights definition
Certain Rights of the Depositary, Limitations". Subject to the further terms and provisions of Section 5.11 of the Deposit Agreement, Citibank, N.A. and its agents may own and deal in any class of securities of the Company and its Affiliates and in ADSs. The Depositary may issue ADSs against evidence of rights to receive Eligible Securities from the Company, or any custodian, registrar, transfer agent, clearing agency or other entity involved in ownership or transaction records in respect of the Eligible Securities. Such evidence of rights shall consist of written blanket or specific guarantees of ownership of Eligible Securities furnished on behalf of the holder thereof. In its capacity as Depositary, the Depositary shall not lend Eligible Securities or ADSs; provided, however, that the Depositary may, to the extent permitted by applicable law, (i) issue ADSs prior to the receipt of Eligible Securities pursuant to Section 2.03 of the Deposit Agreement and (ii) deliver Eligible Securities prior to the receipt and cancellation of ADSs pursuant to Section 2.06 thereunder, including ADSs which were issued under (i) above but for which Eligible Securities may not have been received (each such transaction a "Pre-Release Transaction"). The Depositary may receive ADSs in lieu of Eligible Securities in satisfaction of a Pre-Release Transaction; provided that the Depositary may not execute any Pre-Release Transaction (a) prior to receipt of any required ROC regulatory approval or (b) if such release would violate applicable law. Each Pre-Release Transaction must be (i) preceded or accompanied by a written representation by the person or entity (the "Applicant") to whom the ADSs or Eligible Securities are to be delivered that such Applicant, or its customer, owns the Eligible Securities or ADSs to be remitted, as the case may be, and assigns all right, title and interest therein to the Depositary for the benefit of the Holders, and such other representations and agreements as are set forth in the Deposit Agreement, (ii) at all times fully collateralized with cash or such other collateral as the Depositary deems appropriate, (iii) terminable by the Depositary on not more than five business days notice and (iv) subject to the further indemnities and credit regulations as the Depositary deems appropriate. The number of ADSs that are outstanding at any time as a result of Pre-Release Transactions will not normally exceed 30% of the Eligible Securities deposited thereunder, provided, h...
Certain Rights. With the approval of Beneficiary, Trustee shall have the right to take any and all of the following actions:
Certain Rights of the Depositary, Limitations". Subject to the further terms and provisions of Section 5.11 of the Deposit Agreement, Citibank, N.A. and its agents may own and deal in any class of securities of the Company and its Affiliates and in Receipts. The Depositary may issue Receipts against evidence of rights to receive Eligible Securities from the Company, or any custodian, registrar, transfer agent, clearing agency or other entity involved in ownership or transaction records in respect of the Eligible Securities. Such evidence of rights shall consist of written blanket or specific guarantees of ownership of Eligible Securities furnished on behalf of the holder thereof. In its capacity as Depositary, the Depositary shall not lend Eligible Securities or Receipts; provided, however, that the Depositary may, to the extent permitted by applicable, law, (i) issue Receipts prior to the receipt of Eligible Securities pursuant to Section 2.03 of the Deposit Agreement and (ii) deliver Eligible Securities prior to the receipt and cancellation of Receipts pursuant to Section 2.06 thereunder, including Receipts which were issued under (i) above but for which Eligible Securities may not have been received (each such transaction a "Pre-Release Transaction"). The Depositary may receive Receipts in lieu of Eligible Securities in satisfaction of a Pre-Release; provided that the Depositary may not execute any Pre-Release (a) prior to receipt of any required ROC regulatory approval or (b) if such release would violate applicable law. Each Pre-Release must be (i) preceded or accompanied by a written representation by the person or entity (the "Applicant") to whom the Receipts or Eligible Securities are to be delivered that such Applicant, or its customer, owns the Eligible Securities or Receipts to be remitted, as the case may be, and assigns all right, title and interest therein to the Depositary for the benefit of the Holders, and such other representations and agreements as are set forth in the Deposit Agreement, (ii) at all times fully collateralized with cash or such other collateral as the Depositary deems appropriate, (iii) terminable by the Depositary on not more than five business days notice and (iv) subject to the further indemnities and credit regulations as the Depositary deems appropriate. The number of Receipts that are outstanding at any time as a result of Pre-Release will not normally exceed 30% of the Eligible Securities deposited thereunder, provided, however, ...
Examples of Certain Rights in a sentence
Likewise, the law applicable to all issues in Article 2(1) of the Hague Convention on the Law Applicable to Certain Rights in respect of Securities Held with an Intermediary is the law in force in the Commonwealth of Massachusetts.
Registered Holders; Certain Rights with Respect to Global Notes 26 Section 2.15.
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The parties further agree that the law applicable to all of the issues in Article 2(1) of The Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary shall be the law of the State of New York.
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