Common use of Combination & Split Up Clause in Contracts

Combination & Split Up. The Registrar shall register the split-up or combination of Receipts on the ADR Register and the Depositary shall cancel such Receipts and execute new Receipts for the number of ADSs requested, but in the aggregate not exceeding the number of the same type of ADSs evidenced by the Receipts canceled by the Depositary, shall cause the Registrar to countersign such new Receipts (in the case of Receipts in certificated form) and shall Deliver such new Receipts to or upon the order of the Holder thereof, if each of the following conditions has been satisfied: (i) the Receipts have been duly Delivered by the Holder (or by a duly authorized attorney of the Holder) to the Depositary at its Transfer Office, properly endorsed (in the case of Receipts in certificated form) or upon the delivery to the Depositary of proper instruments of transfer and duly stamped as may be required by applicable law, for the purpose of effecting a split-up or combination thereof, and (ii) all applicable fees and charges of, and expenses incurred by, the Depositary and all applicable taxes and governmental charges (as are set forth in the Deposit Agreement and Exhibit B thereto) have been paid, subject, however, in each case, to the terms and conditions of the applicable Receipts, of the Deposit Agreement and of applicable law, in each care as effect at the time thereof.

Combination & Split Up. The Registrar shall register the split-up or combination of Receipts on the ADR Register and the Depositary shall cancel such Receipts and execute new Receipts for the number of ADSs requested, but in the aggregate not exceeding the number of the same type of ADSs evidenced by the Receipts canceled by the Depositary, shall cause the Registrar to countersign such new Receipts (in the case of Receipts in certificated form) and shall Deliver such new Receipts to or upon the order of the Holder thereof, if each of the following conditions has been satisfied: (i) the Receipts have been duly Delivered by the Holder (or by a duly authorized attorney of the Holder) to the Depositary at its Transfer Office, properly endorsed (in the case of Receipts in certificated form) or upon the delivery to the Depositary of proper instruments of transfer and duly stamped as may be required by applicable law, for the purpose of effecting a split-up or combination thereof, and (ii) all applicable fees and charges of, and expenses incurred by, the Depositary and all applicable taxes and governmental charges (as are set forth in the Deposit Agreement Section 5.9 and Exhibit B theretohereto) have been paid, subject, however, in each case, to the terms and conditions of the applicable Receipts, of the Deposit Agreement and of applicable law, in each care as effect at the time thereof.