Common use of Notice of Adjustments of Exchange Rate Clause in Contracts

Notice of Adjustments of Exchange Rate. Whenever the Exchange Rate is adjusted as provided in Section 4.4 of this Third Supplemental Indenture: (1) the Company shall compute the adjusted Exchange Rate in accordance with Section 4.4 and shall prepare a certificate signed by either the chief financial officer, the treasurer or the controller of the Company setting forth the adjusted Exchange Rate and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall promptly be filed with the Trustee and at each office or agency maintained for the purpose of exchange of Notes pursuant to Section 4.7 of this Third Supplemental Indenture; and (2) a notice stating that the Exchange Rate has been adjusted and setting forth the adjusted Exchange Rate shall forthwith be prepared, and as soon as practicable after it is prepared, such notice shall be provided by the Company to the Trustee and to all Holders. Unless and until the Trustee receives such notice, it need not inquire into whether any adjustment of the Exchange Rate is required and may assume that no such adjustment has been, or is required to be, made.

Appears in 2 contracts

Samples: Third Supplemental Indenture (Loews Corp), Third Supplemental Indenture (Loews Corp)

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Notice of Adjustments of Exchange Rate. Whenever the Exchange Rate is adjusted as provided in Section 4.4 of this Third Supplemental Indenture: (1) the Company shall compute the adjusted Exchange Rate in accordance with Section 4.4 and shall prepare a certificate signed by either the chief financial officer, the treasurer or the controller of the Company setting forth the adjusted Exchange Rate and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall promptly be filed with the Trustee and at each office or agency maintained for the purpose of exchange of Notes pursuant to Section 4.7 of this Third Supplemental Indenture; and (2) a notice stating that the Exchange Rate has been adjusted and setting forth the adjusted Exchange Rate shall forthwith be prepared, and as soon as practicable after it is prepared, such notice shall be provided by the Company to the Trustee and to all Holders. Unless and until the Trustee receives such notice, it need not inquire into whether any adjustment of the Exchange Rate is required and may assume that no such adjustment has been, or is required to be, made.

Appears in 1 contract

Samples: Third Supplemental Indenture (Loews Corp)

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Notice of Adjustments of Exchange Rate. Whenever the Exchange Rate is adjusted as provided in Section ‎Section 4.4 of this Third Supplemental Indenture: (1) the Company shall compute the adjusted Exchange Rate in accordance with Section ‎Section 4.4 and shall prepare a certificate signed by either the chief financial officer, the treasurer or the controller of the Company setting forth the adjusted Exchange Rate and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall promptly be filed with the Trustee and at each office or agency maintained for the purpose of exchange of Notes pursuant to Section ‎Section 4.7 of this Third Supplemental Indenture; and (2) a notice stating that the Exchange Rate has been adjusted and setting forth the adjusted Exchange Rate shall forthwith be prepared, and as soon as practicable after it is prepared, such notice shall be provided by the Company to the Trustee and to all Holders. Unless and until the Trustee receives such notice, it need not inquire into whether any adjustment of the Exchange Rate is required and may assume that no such adjustment has been, or is required to be, made.

Appears in 1 contract

Samples: Third Supplemental Indenture (Loews Corp)

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