Common use of Liability of Holder for Taxes and Other Charges Clause in Contracts

Liability of Holder for Taxes and Other Charges. If any Indian or other tax or governmental charge shall become payable with respect hereto or any Deposited Securities represented by the GDSs evidenced hereby, such tax or other governmental charge shall be payable by the Holder hereof to the Depositary and any Beneficial Owner hereof shall be liable to the Holder therefor. The Depositary may, and upon the instructions of the Company shall, refuse to effect any registration of transfer of all or part of this GDR or any withdrawal of Deposited Securities represented by the GDSs evidenced hereby until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Holder hereof any part or all of the Deposited Securities represented by the GDSs evidenced hereby, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge, the Holder and the Beneficial Owners hereof remaining liable for any deficiency.

Appears in 3 contracts

Samples: Deposit Agreement (Citibank,N.A./ADR), Deposit Agreement (Citibank,N.A./ADR), Deposit Agreement (Citibank,N.A./ADR)

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Liability of Holder for Taxes and Other Charges. If any Indian Finnish or other tax or governmental charge shall become payable with respect hereto or to any Deposited Securities represented by the GDSs ADSs evidenced hereby, such tax or other governmental charge shall be payable by the Holder hereof to the Depositary and any Beneficial Owner hereof shall be liable to the Holder therefor. The Depositary maymay refuse, and upon the instructions of the Company shallshall be under no obligation, refuse to effect any registration of transfer of all or any part of this GDR ADR or any withdrawal of Deposited Securities represented by the GDSs ADSs evidenced hereby until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Holder hereof any part or all of the Deposited Securities represented by the GDSs ADSs evidenced hereby, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge, the Holder and the Beneficial Owners hereof remaining liable for any deficiency.

Appears in 2 contracts

Samples: Deposit Agreement (Citibank,N.A./ADR), Deposit Agreement (Nokia Corp)

Liability of Holder for Taxes and Other Charges. If any Indian tax or other tax or governmental charge shall become payable with respect hereto or to any Deposited Securities represented by the International GDSs evidenced hereby, such tax or other governmental charge shall be payable by the Holder hereof to the Depositary and any Beneficial Owner hereof shall be liable to the Holder therefortherefor and shall be payable by Beneficia1 Owners to the Holder. The Depositary may, may (and upon at the instructions request of the Company shall) refuse, refuse and the Company shall be under no obligation, to effect any registration of transfer of all or any part of this International GDR or any withdrawal of Deposited Securities represented by the International GDSs evidenced hereby until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Holder hereof any part or all of the Deposited Securities represented by the International GDSs evidenced hereby, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge, the Holder and the Beneficial Owners hereof remaining liable for any deficiency.

Appears in 1 contract

Samples: Deposit Agreement (Tata Motors LTD/Fi)

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Liability of Holder for Taxes and Other Charges. If any Indian tax or other tax or governmental charge shall become payable with respect hereto or to any GDSs or any Deposited Securities represented by the GDSs evidenced hereby, such tax or other governmental charge shall be payable by the Holder and Beneficial Owner hereof to the Depositary and any Beneficial Owner hereof shall be liable to the Holder thereforDepositary. The Depositary may, may (and upon at the instructions request of the Company shall) refuse, refuse and the Company shall be under no obligation, to effect any registration of issue GDSs, deliver GDSs, register the transfer of all or part of this GDR any GDSs, register the split-up or any combination of GDRs and (subject to Section 7.09 of the Deposit Agreement) the withdrawal of Deposited Securities represented by the GDSs evidenced hereby until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Holder hereof any part or all of the Deposited Securities represented by the GDSs evidenced hereby, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or other governmental charge, the Holder and the Beneficial Owners hereof remaining liable for any deficiency.

Appears in 1 contract

Samples: Deposit Agreement (Citibank,N.A./ADR)

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