Issuance of American Depositary Receipts Sample Clauses

The Issuance of American Depositary Receipts (ADRs) clause defines the process by which a company’s shares, typically from a non-U.S. entity, are converted into ADRs for trading on U.S. financial markets. This clause outlines the responsibilities of the depositary bank in issuing ADRs, the conditions under which shares are deposited, and the rights of ADR holders, such as receiving dividends or voting instructions. Its core function is to facilitate access for U.S. investors to foreign securities, thereby broadening the company’s investor base and enhancing liquidity while ensuring regulatory compliance.
Issuance of American Depositary Receipts. 1. As long as the Corporation maintains the listing of American Depositary Receipts (“ADRs”), which represent shares of common stock of the Corporation in the United States, on a stock exchange in the United States, the Qualified Person agrees to generally receive ADRs in lieu of the Shares. 2. The Transfer Restriction shall apply equally to ADRs issued in lieu of Shares for all purposes hereunder. In addition, the term “Shares” shall also be deemed to include “ADRs” for all purposes hereunder except with respect to Article 3 in this Agreement or unless the context otherwise requires in this Agreement. In respect of ADRs, any removal of such Transfer Restriction or any acquisition without any consideration to, or consent of, the Qualified Person of ADRs shall be conducted in accordance with the provisions concerning the Transfer Restriction and the acquisition without any consideration to, or consent of, the Qualified Person of the Shares under this Agreement, and in the same manner as those conducted in respect of the Shares. 3. If the Corporation determines to delist ADRs from a stock exchange in the United States, the Corporation may acquire, without any consideration to, or consent of, the Qualified Person, all of the ADRs in respect of which the Transfer Restriction has not been removed as of the date on which such determination is made, and deliver to the Qualified Person the Shares which are represented by ADRs acquired and on which the Transfer Restriction is imposed, and the Qualified Person shall not raise any objections to such handling.
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Issuance of American Depositary Receipts. 1． As long as the Corporation maintains the listing of American Depositary Receipts (“ADRs”), which represent shares of common stock of the Corporation in the United States, on a stock exchange in the United States, the Qualified Person agrees to generally receive ADRs in lieu of the Shares. 2． The Transfer Restriction shall apply equally to ADRs issued in lieu of Shares for all purposes hereunder. In addition, the term “Shares” shall also be deemed to include “ADRs” for all purposes hereunder except with respect to Article 3 in this Agreement or unless the context otherwise requires in this Agreement. In respect of ADRs, any removal of such Transfer Restriction or any acquisition without any consideration to, or consent of, the Qualified Person of ADRs shall be conducted in accordance with the provisions concerning the Transfer Restriction and the acquisition without any consideration to, or consent of, the Qualified Person of the Shares under this Agreement, and in the same manner as those conducted in respect of the Shares.
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Related to Issuance of American Depositary Receipts

  • Depositary Receipts Upon receipt of Instructions, the Custodian shall surrender or cause to be surrendered Securities to the depository used for such Securities by an issuer of American Depositary Receipts or International Depositary Receipts (hereinafter referred to, collectively, as "ADRs"), against a written receipt therefor adequately describing such Securities and written evidence satisfactory to the organization surrendering the same that the depository has acknowledged receipt of instructions to issue ADRs with respect to such Securities in the name of the Custodian or a nominee of the Custodian, for delivery in accordance with such instructions. Upon receipt of Instructions, the Custodian shall surrender or cause to be surrendered ADRs to the issuer thereof, against a written receipt therefor adequately describing the ADRs surrendered and written evidence satisfactory to the organization surrendering the same that the issuer of the ADRs has acknowledged receipt of instructions to cause its depository to deliver the Securities underlying such ADRs in accordance with such instructions.

  • Delivery of American Depositary Shares The Depositary shall instruct each Custodian that, upon receipt by that Custodian of any deposit pursuant to Section 2.2, together with the other documents or evidence required under that Section, that Custodian shall notify the Depositary of that deposit and the person or persons to whom or upon whose written order American Depositary Shares are deliverable in respect thereof. Upon receiving a notice of a deposit from a Custodian, or upon the receipt of Shares or evidence of the right to receive Shares by the Depositary, the Depositary, subject to the terms and conditions of this Deposit Agreement, shall deliver, to or upon the order of the person or persons entitled thereto, the number of American Depositary Shares issuable in respect of that deposit, but only upon payment to the Depositary of the fees and expenses of the Depositary for the delivery of those American Depositary Shares as provided in Section 5.9, and of all taxes and governmental charges and fees payable in connection with that deposit and the transfer of the deposited Shares. However, the Depositary shall deliver only whole numbers of American Depositary Shares.

  • Pre-Release of American Depositary Shares Notwithstanding Section 2.3 of the Deposit Agreement, the Depositary may deliver American Depositary Shares prior to the receipt of Shares pursuant to Section 2.2 of the Deposit Agreement (a “Pre-Release”). The Depositary may, pursuant to Section 2.5 of the Deposit Agreement, deliver Shares upon the surrender of American Depositary Shares that have been Pre-Released, whether or not that surrender is prior to the termination of that Pre-Release or the Depositary knows that those American Depositary Shares have been Pre-Released. The Depositary may receive American Depositary Shares in lieu of Shares in satisfaction of a Pre-Release. Each Pre-Release must be (a) preceded or accompanied by a written representation from the person to whom American Depositary Shares or Shares are to be delivered, that such person, or its customer, owns the Shares or American Depositary Shares to be remitted, as the case may be, (b) at all times fully collateralized with cash or such other collateral as the Depositary deems appropriate, (c) terminable by the Depositary on not more than five (5) business days’ notice, and (d) subject to all indemnities and credit regulations that the Depositary deems appropriate. The number of American Depositary Shares outstanding at any time as a result of Pre-Release will not normally exceed thirty percent (30%) of all American Depositary Shares outstanding; provided, however, that the Depositary reserves the right to change or disregard that limit from time to time as it deems appropriate. The Depositary may retain for its own account any compensation received by it in connection with Pre-Release.

  • American Depositary Shares The term “

  • Depositary; Depositary’s Office The term “