Depositee definition
Examples of Depositee in a sentence
Depositee has caused this Note to be executed and delivered as of the day and year first above written.
Notwithstanding the foregoing, the Depositor may solicit potential offers for the Deposited Shares, and the Depositee agrees to consider any offers so solicited.
The Depositee shall be entitled to select any one or more of the Deposited Shares as the Depositee, in the Depositee's absolute discretion sees fit, against which to enforce the Security Deposit.
The Depositee may, at any time and from time to time, delegate to any person all or any of the rights and benefits which are at such time, being exercised or capable of being exercised by the Depositee under this Agreement in relation to the Deposited Shares or any part thereof.
In the event that the Depositee, in exercising its rights under this Agreement, shall decide to transfer, sell or otherwise dispose of all or part of the Deposited Shares, the Depositee shall use reasonable endeavours to transfer, sell or otherwise dispose of the Deposited Shares through an independent, internationally recognised auction house appointed by the Depositee.
The Depositor makes each of the representations and warranties set out in this Clause 7 to the Depositee and acknowledges that the Depositee has entered into this Agreement and that each Finance Party and the Security Agent have entered into the Senior Secured Debt Facility Agreement and the documents provided for therein, in reliance on these representations and warranties.
The Depositor hereby unconditionally and irrevocably agrees to indemnify the Depositee on demand against any losses, liabilities, fees, costs and expenses, properly and duly incurred or expended by the Depositee in the protection or attempted protection of the Encumbrance constituted by this Agreement.
The Deposited Shares shall be initially offered at the market value as determined by an independent, internationally recognised accounting firm appointed jointly by the Depositee, the Depositor and the relevant Countersignor (the "Valuation Price").
REGISTRY Each of the Countersignors hereby irrevocably and unconditionally undertakes to enter and maintain in its share registry notations reflecting the fact that the Deposited Shares have been deposited in favour of the Depositee in its own capacity and in its capacity as Security Agent, in form and substance acceptable to the Depositee.
The Depositor shall deliver to the Depositee a certified copy of each Countersignor's share registry showing the notations referred to above simultaneously with the execution of this Agreement.