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

Liability of Holders for Taxes and Other Charges. If any tax or governmental or other charge shall become payable with respect to this GDR, to any Deposited Securities represented by the GDSs evidenced hereby or to any shares of Common Stock into which the Shares are convertible, such tax or governmental or other charge (other than any capital or stamp duties or transfer taxes payable by the Company in accordance with the terms and conditions of the Shares or the Common Stock) shall be payable by the Holder hereof to the Depositary. The Depositary may refuse, and the Company shall be under no obligation, to effect any registration of transfer of all or any part of this GDR or any deposit or withdrawal (including any withdrawal in connection with a conversion of Shares) 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 governmental or other charge, the Holder hereof remaining liable for any deficiency.

Appears in 3 contracts

Samples: Preferred Stock Deposit Agreement (Philippine Long Distance Telephone Co), Deposit Agreement (Philippine Long Distance Telephone Co), Preferred Stock Deposit Agreement (Philippine Long Distance Telephone Co)

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Liability of Holders for Taxes and Other Charges. If any tax or governmental or other charge shall become payable with respect to this GDRADR, to any Deposited Securities represented by the GDSs ADSs evidenced hereby or to any shares of Common Stock into which the Shares are convertiblehereby, such tax or governmental or other charge (other than any capital or stamp duties or transfer taxes payable by the Company in accordance with the terms and conditions of the Shares or the Common Stock) shall be payable by the Holder hereof to the Depositary. The Depositary may refuse, and the Company shall be under no obligation, to effect any registration of transfer of all or any part of this GDR ADR or any deposit or withdrawal (including any withdrawal in connection with a conversion of Shares) 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 governmental or other charge, the Holder hereof remaining liable for any deficiency.

Appears in 2 contracts

Samples: Deposit Agreement (Philippine Long Distance Telephone Co), Common Stock Deposit Agreement (Philippine Long Distance Telephone Co)

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Liability of Holders for Taxes and Other Charges. If any tax tax, or governmental or other charge shall become payable with respect to this GDR, to any GDR or any Deposited Securities represented by the GDSs evidenced hereby by any GDR or to any shares of Common Stock into which the Shares are convertible, such tax tax, or governmental or other charge (other than any capital or stamp duties or transfer taxes payable by the Company in accordance with the terms and conditions of the Shares or the Common Stock) shall be payable by the Holder hereof of such GDR to the Depositary. The Depositary may refuse, and the Company shall be under no obligation, to effect any registration of transfer of all or any part of this such GDR or any deposit or withdrawal (including any withdrawal in connection with a conversion of Shares) of Deposited Securities represented by the GDSs evidenced hereby thereby until such payment is made, and may withhold any dividends or other distributions, or may sell for the account of the Holder hereof thereof any part or all of the Deposited Securities represented by the GDSs evidenced herebyby such GDR, and may apply such dividends or other distributions or the proceeds of any such sale in payment of such tax or governmental or other charge, the Holder hereof of such GDR remaining liable for any deficiency.

Appears in 1 contract

Samples: Preferred Stock Deposit Agreement (Philippine Long Distance Telephone Co)

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