Escalation Event Clause Samples

Escalation Event. If the Depositary identifies any irregularity, anomaly, breach or material risk (or potential irregularity, anomaly, breach or material risk) during the execution of its Depositary Tasks, and the Depositary requires immediate measures due to the scope, urgency or negative effects regarding interests of the Participation Right Holders, it will be deemed an escalation event (the “Escalation Event”). The Depositary will directly contact the Regulators regarding an Escalation Event if the escalation procedure outlined in the remainder of this clause 16 cannot be applied due to the nature of an Escalation Event.