Common use of Prevention or Delay in Performance Clause in Contracts

Prevention or Delay in Performance. BY THE DEPOSITARY OR THE COMPANY. Neither the Depositary nor the Company nor any of their respective directors, employees, agents or affiliates shall incur any liability to any Owner or beneficial owner of any Receipt, if by reason of any provision of any present or future law or regulation of the United States or any other country, or of any governmental or regulatory authority or stock exchange, or by reason of any provision, present or future, of the Memorandum or Articles of Association of the Company, or by reason of any provision of any securities issued or distributed by the Company, or any offering or distribution thereof, or by reason of any act of God or war or other circumstances beyond its control, the Depositary or the Company shall be prevented, delayed or forbidden from, or be subject to any civil or criminal penalty on account of, doing or performing any act or thing which by the terms of this Deposit Agreement or Deposited Securities it is provided shall be done or performed; nor shall the Depositary or the Company or any of their respective directors, employees, agents or affiliates incur any liability to any Owner or beneficial owner of any Receipt by reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing which by the terms of this Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement. Where, by the terms of a dividend or other distribution pursuant to Section 4.01, 4.02, or 4.03 of the Deposit Agreement, or an offering or distribution pursuant to Section 4.04 of the Deposit Agreement, or for any other reason, such dividend or other distribution or offering may not be made available to Owners, and the Depositary may not dispose of such dividend or other distribution or offering on behalf of such Owners and make the net proceeds available to such Owners, then the Depositary shall not make such dividend or other distribution or offering, and shall allow any rights, if applicable, to lapse.

Appears in 1 contract

Sources: Deposit Agreement (Sappi LTD)

Prevention or Delay in Performance. BY THE DEPOSITARY OR THE COMPANY. Neither the Depositary nor the Company nor any of their respective directors, employees, agents or affiliates shall incur any liability to any Owner or beneficial owner Beneficial Owner of any Receipt, if by reason of (a) any provision of any present or future law law, regulation, order, decree, moratorium or regulation fiat of the United States States, Poland or any other country, or of any governmental or regulatory authority or stock exchange, or by reason of any act of God or war or other circumstances beyond its or their control, or (b) in the case of the Depositary and its directors, employees, agents or affiliates only, by reason of any provision, present or future, of the Memorandum or Articles of Association Statute of the Company, or by reason of any provision of any securities issued or distributed by the Company, or any offering or distribution thereof, or by reason of any act of God or war or other circumstances beyond its control, the Depositary or the Company or any of their directors, employees, agents or affiliates shall be prevented, delayed or forbidden from, or be subject to any civil or criminal penalty on account of, doing or performing any act or thing which by the terms of this Deposit Agreement or Deposited Securities it is provided shall be done or performed; nor shall the Depositary or nor the Company or nor any of their respective directors, employees, agents or affiliates incur any liability to any Owner or beneficial owner Beneficial Owner of any Receipt by reason of any nonperformance or delay, caused as aforesaid, in the performance of any act or thing which by the terms of this Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement. Where, by the terms of a dividend or other distribution pursuant to Section 4.01, 4.02, or 4.03 of the this Deposit Agreement, or an offering or distribution pursuant to Section 4.04 of the this Deposit Agreement, or for any other reason, such dividend or other distribution or offering may not be made available to Owners, and the Depositary may not dispose of such dividend or other distribution or offering on behalf of such Owners and make the net proceeds available to such Owners, then the Depositary shall not make such dividend or other distribution or offering, and shall allow any rights, if applicable, to lapse.

Appears in 1 contract

Sources: Deposit Agreement (Netia Holdings Sa)

Prevention or Delay in Performance. BY THE DEPOSITARY OR THE COMPANY. Neither the Depositary nor the Company nor any of their respective directors, employees, agents or affiliates shall incur any liability to any Owner Holder or beneficial owner of any Receiptother person, if if, by reason of any provision of any present or future law or regulation of the United States States, England and Wales or any other country, or of any other governmental authority or regulatory authority or stock exchange, or by reason of any provision, present or future, of the Memorandum or Articles of Association of the Company, Company or by reason of governing any provision of any securities issued or distributed by the Company, or any offering or distribution thereofDeposited Securities, or by reason of any act of God or war or other circumstances beyond its control, the Depositary or its agents or the Company or its agents shall be prevented, delayed prevented or forbidden from, from or be subject subjected to any civil or criminal penalty or restraint on account of, or delayed in, doing or performing any act or thing which by the terms of this Deposit Agreement or Deposited Securities it is provided shall be done or performed; nor shall the Depositary or its agents or the Company or any of their respective directors, employees, its agents or affiliates incur any liability to any Owner Holder or beneficial owner of any Receipt other person by reason of any nonperformance non-performance or delay, caused as aforesaid, in the performance of any act or thing which by the terms of this Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit AgreementAgreement or in the Articles of Association. Wherewhere, by the terms of a dividend or other distribution pursuant to Section 4.01, Sections 4.02, 4.03, or 4.03 4.04 of the this Deposit Agreement, or an offering or distribution pursuant to Section 4.04 4.05 or 4.09 of the this Deposit Agreement, or for any other reason, such dividend or other distribution or offering may not be made available to OwnersHolders, or some of them, and the Depositary may not dispose of such dividend or other distribution or offering on behalf of such Owners Holders and make the net proceeds available to such OwnersHolders, then the Depositary shall not make such dividend or other distribution or offering, and shall allow any such rights, if applicable, to lapse.

Appears in 1 contract

Sources: Deposit Agreement (Waste Management Inc)