Common use of Registration and Safekeeping of Deposited Securities Clause in Contracts

Registration and Safekeeping of Deposited Securities. Deposited Securities shall be held by the Depositary or by a Custodian in the name and to the order of the Depositary, the Custodian or a nominee in each case on behalf of the Holders and Beneficial Owners, at such place or places as the Depositary or the Custodian shall determine. The Depositary represents that the Deposited Securities held hereunder are to be held by it as record holder, subject to all the terms and conditions of the Deposit Agreement. The Depositary shall instruct the Custodian upon each Delivery of Shares being deposited hereunder with the Custodian (or other Deposited Securities pursuant to Article IV hereof), together with the other documents above specified, to transfer and register the Shares in any Settlement System (as soon as transfer and registration can be accomplished and at the expense of the person for whom the deposit is made) in the name of the Depositary, the Custodian or a nominee of either.