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Cum depository

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Upon the initial deposit of a Global Note with a common depositary for Euroclear and Clearstream, Luxembourg the " Common Depositary " or registration of Registered Notes in the name of any nominee of a Common Depositary for Euroclear and Clearstream, Luxembourg and delivery of the relative Global Certificate to the Common Depositary , Euroclear or Clearstream, Luxembourg will credit each subscriber with a principal amount of Notes equal to the principal amount thereof for which it has subscribed and paid. Notes that are initially deposited with the Common Depositary may also be credited to the accounts of subscribers with other clearing systems through direct or indirect accounts with Euroclear and Clearstream, Luxembourg held by such other clearing systems. For so long as any of the Securities is represented by a Bearer Global Security held by a Common Depositary , each person who is for the time being shown in the records of the Clearing Systems as entitled to a particular nominal amount of Securities shall be deemed to be the holder of such nominal amount of Securities for all purposes other than with respect to the payment of principal, premium if any , or interest or other amount on such Securities. With respect to such payment, such Common Depositary shall be deemed to be the holder of such nominal amount of Securities in accordance with and subject to the terms of the relevant Global Security. Email Facebook Linkedin Twitter Reddit. Sample 1.
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