Examples of Class B Deposit Agreement in a sentence
Upon the receipt of such notice from the Company, the Depositary shall establish the ADS Record Date upon the terms described in Section 4.9 of the Class B Deposit Agreement.
Nothing herein or in the Class B Deposit Agreement shall obligate the Depositary to make available to the Holders of ADSs a method to exercise rights to subscribe for Shares (rather than ADSs).
The ADS(s)-to-Share(s) ratio is subject to amendment as provided in Articles IV and VI of the Class B Deposit Agreement.
As soon as practicable after receipt of notice of any meeting at which the holders of Deposited Securities are entitled to vote, or of solicitation of consents or proxies from holders of Deposited Securities, the Depositary shall fix the ADS Record Date in respect of such meeting or solicitation of such consent or proxy in accordance with Section 4.9 of the Class B Deposit Agreement.
If the above conditions are satisfied, the Depositary shall establish an ADS Record Date on the terms described in Section 4.9 of the Class B Deposit Agreement and establish procedures to enable Holders of ADSs to elect the receipt of the proposed distribution in cash or in additional ADSs. The Company shall assist the Depositary in establishing such procedures to the extent necessary.
The Depositary shall then sell such Shares in arm’s-length, market transactions and distribute the resulting proceeds to Holders entitled thereto pursuant to the procedures described in Section 4.1 of the Class B Deposit Agreement.
At any time after the Termination Date, the Depositary may sell the Deposited Securities then held under the Class B Deposit Agreement and shall after such sale hold un-invested the net proceeds of such sale, together with any other cash then held by it under the Class B Deposit Agreement, in an un-segregated account and without liability for interest, for the pro rata benefit of the Holders whose ADSs have not theretofore been surrendered.
The Depositary shall, upon such sale, convert and distribute proceeds of such sale (net of applicable (a) fees and charges of, and expenses incurred by, the Depositary and (b) taxes required by applicable law to be deducted and withheld) upon the terms set forth in Section 4.1 of the Class B Deposit Agreement.
Whenever the Establishing Resolution, Bylaws or applicable law requires that the Holders of Shares be given the right to vote on a matter, the procedures in this paragraph (17) and in Section 4.10 of the Class B Deposit Agreement shall be used.
Subject to applicable law and the terms and conditions of this ADR and Sections 4.1 through 4.8 of the Class B Deposit Agreement and to the other terms and conditions of the Class B Deposit Agreement, only the Holders of ADSs at the close of business in New York on such ADS Record Date shall be entitled to receive such distribution, to give such instructions, to receive such notice or solicitation, or otherwise take action.