Cancellation and Destruction of Surrendered Receipts Sample Clauses
The "Cancellation and Destruction of Surrendered Receipts" clause outlines the process by which receipts that have been surrendered are formally invalidated and disposed of. Typically, this involves the responsible party marking the receipts as cancelled and then physically destroying them to prevent any future use or confusion. This procedure ensures that once a receipt has been surrendered, it cannot be reused or presented again, thereby maintaining the integrity of record-keeping and preventing potential fraud or administrative errors.
Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelled.
Cancellation and Destruction of Surrendered Receipts. Pre-Release of American Depositary Shares.
Cancellation and Destruction of Surrendered Receipts. SECTION 2.9 Pre-Release of Receipts.
Cancellation and Destruction of Surrendered Receipts. The Depositary shall cancel all Receipts surrendered to it and is authorized to destroy Receipts so cancelled. The Depositary agrees to maintain records of all Receipts surrendered and Deposited Securities withdrawn under Section 2.5, of substitute Receipts delivered under Section 2.7, and of cancelled or destroyed Receipts under this Section, in keeping with procedures ordinarily followed by stock transfer agents located in the United States.
Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the Depositary shall be cancelled by the Depositary. Cancelled Receipts shall not be entitled to any benefits under this Agreement or be valid or obligatory for any purpose. The Depositary is authorized to destroy surrendered Receipts so cancelled. The Depositary agrees to maintain records of all Receipts cancelled or issued under this Section in accordance with procedures customarily followed by stock transfer agents located in New York City.
Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the Depositary or any Depositary's Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary shall, unless otherwise directed by the Company, hold on behalf of the Company such Receipts so cancelled.
Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the Depositary or any Depositary's Agent shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized to destroy all Receipts so cancelled. Any Receipt evidenced in book-entry form shall be deemed cancelled when the Depositary has caused the amount of Depositary Shares evidenced by the DTC Receipt to be reduced in proportion to the number of Depositary Shares evidenced by the surrendered Receipt.
Cancellation and Destruction of Surrendered Receipts. All Receipts surrendered to the Depositary or any Depositary’s Agent, including Receipts surrendered in connection with any conversion of the Mandatory Convertible Preferred Stock into shares of Common Stock or in connection with any redemption of the Mandatory Convertible Preferred Stock, in each case, in accordance with the Articles of Incorporation, shall be cancelled by the Depositary. Except as prohibited by applicable law or regulation, the Depositary is authorized and directed to destroy all Receipts so cancelled.
Cancellation and Destruction of Surrendered Receipts. SECTION 2.09 PRE-RELEASE OF RECEIPTS...................................9 SECTION 2.10
Cancellation and Destruction of Surrendered Receipts. Section 2.9. Pre-Release of Receipts Section 2.10. Maintenance of Records