Common use of Substitution of Receipts Clause in Contracts

Substitution of Receipts. In case any certificated ADR shall be mutilated, destroyed, lost or stolen, the Depositary shall execute and deliver a new Direct Registration ADR in exchange and substitution for any mutilated certificated ADR upon cancellation thereof or in lieu of and in substitution for such destroyed, lost or stolen ADR, unless the Depositary has notice that such ADR has been acquired by a bona fide purchaser, upon the Holder thereof filing with the Depositary a request for such execution and delivery and a sufficient indemnity bond for the benefit of the Depositary and the Company and satisfying any other reasonable requirements imposed by the Depositary.

Appears in 3 contracts

Sources: Deposit Agreement (Centrais Eletricas Brasileiras Sa Eletrobras), Deposit Agreement (Centrais Eletricas Brasileiras Sa Eletrobras), Deposit Agreement (Brazilian Electric Power Co)