Common use of Notice of Adjustments and Certain Other Events Clause in Contracts

Notice of Adjustments and Certain Other Events. (a) Whenever the Fixed Settlement Rates are adjusted as herein provided or the Settlement Rate is fixed pursuant to Section 5.1(f), the Company shall as soon as practicable following the occurrence of an event that requires or permits the Settlement Rate to be adjusted or fixed, (i) provide written notice to the Purchase Contract Agent of the occurrence of that event and (ii) compute the Fixed Settlement Rates and the Applicable Market Value in accordance with Section 5.6 or, in the case of a fixing of the Settlement Rate, pursuant to Section 5.1(f), and prepare and transmit to the Purchase Contract Agent an Officers' Certificate setting forth the Fixed Settlement Rates and the Applicable Market Value or the Fixed Accounting Event Settlement Rate, as the case may be, the method of calculation thereof in reasonable detail, and the facts requiring such adjustment and upon which such adjustment is based (which Officers' Certificate, in the case of the fixing of the Settlement Rate pursuant to Section 5.1(f) shall be delivered by such time and date as specified in Section 5.1(f)).

Appears in 2 contracts

Samples: Purchase Contract Agreement (Xl Capital LTD), Purchase Contract Agreement (Xl Capital LTD)

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Notice of Adjustments and Certain Other Events. (a) Whenever the Fixed Settlement Rates are Rate is adjusted as herein provided or the Settlement Rate is fixed pursuant to Section 5.1(f), the Company shall as soon as practicable following the occurrence of an event that requires or permits the Settlement Rate to be adjusted or fixed, (i) provide written notice to the Purchase Contract Agent of the occurrence of that event and (ii) compute the Fixed Settlement Rates Rate and the Applicable Market Value in accordance with Section 5.6 or, in the case of a fixing of the Settlement Rate, pursuant to Section 5.1(f), and prepare and transmit to the Purchase Contract Agent an Officers' Certificate setting forth the Fixed Settlement Rates Rate and the Applicable Market Value or the Fixed Accounting Event Settlement Rate, as the case may be, the method of calculation thereof in reasonable detail, and the facts requiring such adjustment and upon which such adjustment is based (which Officers' Certificate, in the case of the fixing of the Settlement Rate pursuant to Section 5.1(f) shall be delivered by such time and date as specified in Section 5.1(f)).

Appears in 1 contract

Samples: Purchase Contract Agreement (Xl Capital LTD)

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Notice of Adjustments and Certain Other Events. (a) Whenever the Fixed Settlement Rates are adjusted as herein provided or the Settlement Rate is fixed pursuant to Section 5.1(f), the Company shall as soon as practicable following the occurrence of an event that requires or permits the Settlement Rate to be adjusted or fixed, (i) provide written notice to the Purchase Contract Agent of the occurrence of that event and (ii) compute the Fixed Settlement Rates and the Applicable Market Value in accordance with Section 5.6 or, in the case of a fixing of the Settlement Rate, pursuant to Section 5.1(f), and prepare and transmit to the Purchase Contract Agent an Officers' Certificate setting forth the Fixed Settlement Rates and the Applicable Market Value or the Fixed Accounting Event Settlement Rate, as the case may be, the method of calculation thereof in reasonable detail, and the facts requiring such adjustment and upon which such adjustment is based (which Officers' Certificate, in the case of the fixing of the Settlement Rate pursuant to Section 5.1(f) shall be delivered by such time and date as specified in Section 5.1(f))) .

Appears in 1 contract

Samples: Purchase Contract Agent Purchase Contract Agreement (Xl Capital LTD)

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