Currency Election definition

Currency Election means an election made or deemed to be made in accordance with Clause 3.3 or 4.5 that all payments of dividends and other cash distributions attributable to specified Regulation S GDRs, from and after the time that that election is received and accepted by the Depositary until such time (if any) when such Currency Election is cancelled, shall be payable in a currency for which there is outstanding an Attachment prepared by or on behalf of the Depositary;
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Currency Election means an election under the Currency Conversion Facility to receive Cash Consideration in British Pounds or Euros instead of US dollars which is made by eligible Scheme Shareholders in accordance with the instructions set out in the Scheme Circular;
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Examples of Currency Election in a sentence

  • Any Currency Election which has been submitted in accordance with the provisions of this Agreement shall be deemed accepted at the time that the Depositary credits the relevant Attachment with the Regulation S GDRs referred to in the Currency Election, and shall become effective at the time of such acceptance.

  • As soon as is reasonably practicable after the receipt and acceptance by the Depositary of a Currency Election in accordance with the provisions of this Agreement the Depositary shall make the appropriate adjustments to the relevant Attachment by increasing or decreasing, or causing to be increased or decreased, as the case may be, the number of Regulation S GDRs entitled to receive dividends or other cash distributions in the currency associated with such Attachment.

  • Any Regulation S GDR in definitive form must be presented to the Depositary at the time of the submission of the Currency Election.

  • In the event that a Currency Election is not accepted by the Depositary for any reason, the Depositary shall promptly return the Currency Election fee to the Holder submitting the Currency Election.

  • A Holder of a Regulation S GDR may at any time submit a written Currency Election to the Depositary with respect to all or any part of its holding of Regulation S GDRs which Currency Election must specify the currency being elected and otherwise be in a form approved by the Depositary.

  • Once a Currency Election becomes effective any prior Currency Election in respect of the same Regulation S GDRs shall forthwith automatically be cancelled.

  • Any Lenders which have not agreed to provide the Alternative Currency requested pursuant to an Alternative Currency Election shall fund in Dollars.

  • In the event that a Currency Election is not delivered to the Depositary where so required, the person depositing the Shares (or the Company as the case may be) shall be deemed to have delivered a Currency Election requesting that payments of dividends and other cash distributions with respect to the relevant Regulation S GDRs be made in US dollars.

  • In the event that a Currency Election is not approved and accepted at least three (3) business days prior to a given record date, the Depositary shall make the payment or distribution in the currency or currencies already applicable to the Regulation S GDRs in respect of which the non- approved and accepted Currency Election was made and neither the Depositary nor any Agent shall have any resulting liability to any party.

  • In the event that a Currency Election is not approved and accepted at least three (3) business days prior to a given record date, the Depositary shall make the payment or distribution in the currency or currencies already applicable to the Regulation S GDRs in respect of which the non-approved and accepted Currency Election was made and neither the Depositary nor any Agent shall have any resulting liability to any party.