Common use of Initial Settlement Clause in Contracts

Initial Settlement. With respect to any portion of the Offered Shares to be purchased and sold hereunder at each Time of Delivery, Credit Suisse First Boston Corporation ("CSFBC"), on behalf of the International Underwriters, may elect to have ADSs in respect of such Shares delivered and paid for hereunder in lieu of, and in satisfaction of the Selling Shareholder's obligation to sell to the several International Underwriters and the several International Underwriters' obligation to purchase, such Shares. Notice of such election with respect to any Time of Delivery shall be given in writing by CSFBC, on behalf of the International Underwriters, to the Selling Shareholder prior to the Notification Time (as hereinafter defined) with respect to such Time of Delivery. The purchase price for each ADS so delivered in lieu of any Firm Shares (the "ADS Purchase Price") is equal to the sum of US$___ and the US$ equivalent (as determined and payable in accordance with the Trust Deed and the Interim Deposit Agreement) of NZ$___ per ADS, less underwriting discounts equal to US$_____ per ADS and the purchase price per ADS for any ADSs so delivered in lieu of any Optional Shares shall be the ADS Purchase Price less such underwriting discounts. The ADS Purchase Price shall be payable in instalments consisting of a first instalment of US$___ per ADS (the "First ADS Instalment") less underwriting discounts equal to US$_____ per ADS and a final instalment of the US$ equivalent of NZ$____ per ADS (the "Final ADS Instalment") as determined and payable in accordance with the Trust Deed and Interim Deposit Agreement. Payment of the First Instalment for the Offered Shares, and the First ADS Instalment in the case of any such Shares taken in the form of ADSs, shall be made at each Time of Delivery and the Final Instalment for such Shares shall be payable as set forth in the Trust Deed and Interim Deposit Agreement (the "Final Instalment Due Date"). With respect to each Time of Delivery, the Shares, in the form of IRs, to be acquired by each of the International Underwriters hereunder at such Time of Delivery and, if an election has been made in accordance with the preceding paragraph, one or more Interim ADRs evidencing the Interim ADSs to be acquired by each International Underwriter at such Time of Delivery, shall be delivered by or on behalf of the Selling Shareholder, as described in the next succeeding paragraph, against payment by CSFBC, on behalf of the International Underwriters, for each Share or Interim ADS as described in Section 3 or the first paragraph of Section 5 hereof, as the case may be, multiplied by the number of Shares or Interim ADSs, respectively, to be delivered at such Time of Delivery.

Initial Settlement. With respect to any portion of the Offered Shares to be purchased and sold hereunder at each Time of Delivery, Credit Suisse First Boston Corporation ("CSFBC"), on behalf of the International Underwriters, may elect to have ADSs in respect of such Shares delivered and paid for hereunder in lieu of, and in satisfaction of the Selling Shareholder's obligation to sell to the several International Underwriters and the several International Underwriters' obligation to purchase, such Shares. Notice of such election with respect to any Time of Delivery shall be given in writing by CSFBC, on behalf of the International Underwriters, to the Selling Shareholder prior to the Notification Time (as hereinafter defined) with respect to such Time of Delivery. The purchase price for each ADS so delivered in lieu of any Firm Shares (the "ADS Purchase Price") is equal to the sum of US$___ and the US$ equivalent (as determined and payable in accordance with the Trust Deed and the Interim Deposit Agreement) of NZ$___ per ADS, less underwriting discounts equal to US$_____ per ADS and the purchase price per ADS for any ADSs so delivered in lieu of any Optional Shares shall be the ADS Purchase Price less such underwriting discounts. The ADS Purchase Price shall be payable in instalments consisting of a first instalment of US$___ per ADS (the "First ADS Instalment") less underwriting discounts equal to US$_____ per ADS and a final instalment of the US$ equivalent of NZ$____ per ADS (the "Final ADS Instalment") as determined and payable in accordance with the Trust Deed and Interim Deposit Agreement. Payment of the First Instalment for the Offered Shares, and the First ADS Instalment in the case of any such Shares taken in the form of ADSs, shall be made at each Time of Delivery and the Final Instalment for such Shares shall be payable as set forth in the Trust Deed and Interim Deposit Agreement (the "Final Instalment Due Date"). With respect to each Time of Delivery, the Shares, in the form of IRs, to be acquired by each of the International Underwriters hereunder at such Time of Delivery and, if an election has been made in accordance with the preceding paragraph, one or more Interim ADRs evidencing the Interim ADSs to be acquired by each International Underwriter at such Time of Delivery, shall be delivered by or on behalf of the Selling Shareholder, as described in the next succeeding paragraph, against payment by CSFBC, on behalf of the International Underwriters, for each Share or Interim ADS as described in Section 3 or the first paragraph of Section 5 hereof, as the case may be, multiplied by the number of Shares or Interim ADSs, respectively, to be delivered at such Time of Delivery.. Upon payment of the First Instalment in respect of such Shares, and of the First ADS Instalment with respect to any Shares taken in the form of ADSs, the Selling Shareholder will transfer legal title to the Shares to the Trustee to hold such Shares in trust pursuant to the Trust Deed. Certificates representing any Shares, in the form of IRs, to be delivered at each Time of Delivery by or on behalf of the Selling Shareholder shall be delivered to the accounts to be specified by Credit Suisse First Boston (Europe) Limited ("CSFBL"), on behalf of the International Underwriters, at their designated nominee or nominees in New Zealand, in such respective portions and also to such other accounts as CSFBL, on behalf of the International Underwriters, may designate, upon notice to the Selling Shareholder given on or prior to the Notification Time with respect to such Time of Delivery. If an election has been made to purchase ADSs in respect of any of the Shares, with respect to each Time of Delivery, Interim ADRs evidencing the Interim ADSs to be acquired by an International Underwriter pursuant to such election shall be delivered through the book entry facilities of The Depository Trust Company ("DTC") by or on behalf of the Selling Shareholder to CSFBC for the account of such International Underwriter. The delivery or transfer of Shares (in the form of IRs or Interim ADSs) to be purchased and sold hereunder at a Time of Delivery shall be made against payment therefor and DTC and the Selling Shareholder shall have furnished or caused to be furnished to you at such Time of Delivery certificates or other evidence reasonably satisfactory to you of the execution in favor of the International Underwriters of the book entry transfer, whether by delivery to the nominee in New Zealand or to the custodian for DTC. The term