Withdrawing Holder definition
Examples of Withdrawing Holder in a sentence
The Depositary may also, in its sole discretion, charge each Withdrawing Holder a fee for each cancellation of CDRs and withdrawal of Shares pursuant to Section 2.5 (Surrender of Canadian Depositary Receipts and Withdrawal of Deposited Securities) in an amount not to exceed to 0.20% of the value of the related CDRs as of the day of the cancellation request, such amount being due and payable prior to the Prescribed Time.
The Surrender by Delivery of CDRs shall be deemed to have been made only after the CDR Ratio Adjustment Time on the Scheduled Withdrawal Date and upon the applicable Withdrawing Holder satisfying all conditions for the withdrawal prior to the Prescribed Time.
In each case, BMO may charge the Withdrawing Holder for any related costs and expenses (including costs or breakage on any related hedging transactions that may have been entered into, terminated or not entered into on the basis that the number of outstanding CDRs was being reduced, on or following the day the initial cancellation request was received, by BMO or any of its affiliates in connection with its Issuer Interest and the relevant cancellation of CDRs).
If the Transferred CDRs are not disposed of within such ten Business Day period then the Depositary may in its sole discretion cancel such Transferred CDRs and Section 2.5 (Surrender of Canadian Depositary Receipts and Withdrawal of Deposited Securities) shall apply as if such Transferred CDRs were surrendered in accordance with such Section 2.5 and by treating the Intermediary as the Withdrawing Holder for such purposes.
To the extent that any related amount payable to BMO is not paid by or on behalf of the Withdrawing Holder to the Custodian on or before the Prescribed Time, BMO may cancel all or part of the related cancellation of CDRs and withdrawal of Shares.
Any CDRs Delivered by or on behalf of the Withdrawing Holder to the Custodian shall be held in trust for the Withdrawing Holder until the time of their cancellation on the Scheduled Withdrawal Date (provided that if the preconditions for the cancellation and Share withdrawal are not satisfied prior to the Prescribed Time, then such CDRs shall be held as security for satisfaction of any liabilities of the Withdrawing Holder hereunder).