Common use of New GDRs Clause in Contracts

New GDRs. From and after the Effective Date, the Depositary shall arrange to have new GDRs printed or amended that reflect the changes to the form of GDR effected by this Amendment. All GDRs issued after the Effective Date, once such new GDRs are available, whether upon the deposit of Shares or other Deposited Securities or upon the transfer, combination or split up of existing GDRs, shall be substantially in the form of the specimen GDR attached as Exhibit A hereto. However, GDRs issued prior or subsequent to the date hereof, which do not reflect the changes to the form of GDR effected hereby, do not need to be called in for exchange and may remain outstanding until such time as the Holders thereof choose to surrender them for any reason under the Deposit Agreement. The Depositary is authorized and directed to take any and all actions deemed necessary to effect the foregoing.

Appears in 3 contracts

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

AutoNDA by SimpleDocs

New GDRs. From and after the Effective Date, the Depositary shall arrange to have new GDRs printed or amended that to reflect the changes to the form of GDR effected by this Amendment. All GDRs issued hereunder after the Effective Date, once such new GDRs are available, whether upon the deposit of Shares or other Deposited Securities or upon the transfer, combination or split split-up of existing GDRs, shall be substantially subsequently in the form of the specimen GDR attached as Exhibit A hereto. However, GDRs issued prior or subsequent to the date hereof, which do not reflect the changes to the form of GDR effected hereby, do not need to be called in for exchange and may remain outstanding until such time as the Holders thereof choose to surrender them for any reason under the Deposit Agreement. The Depositary is authorized and directed to take any and all actions deemed necessary to effect the foregoing.

Appears in 1 contract

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

AutoNDA by SimpleDocs

New GDRs. From and after the Effective Date, the Depositary shall arrange to have new GDRs printed or amended that reflect the changes to the form of GDR effected by this AmendmentAmendment No. 2. All GDRs issued hereunder after the Effective Date, once such new GDRs are available, whether upon the deposit of Shares or other Deposited Securities or upon the transfer, combination or split up of existing GDRs, shall be substantially in the form of the specimen GDR attached as Exhibit A hereto. However, GDRs issued prior or subsequent to the date hereof, which do not reflect the changes to the form of GDR effected hereby, do not need to be called in for exchange and may remain outstanding until such time as the Holders thereof choose to surrender them for any reason under the Deposit Agreement. The Depositary is authorized and directed to take any and all actions deemed necessary to effect the foregoing.

Appears in 1 contract

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

Time is Money Join Law Insider Premium to draft better contracts faster.