Common use of Commodity Conversions Clause in Contracts

Commodity Conversions. Each Commodity Conversion shall be entered into on the following terms and conditions: (a) Each Commodity Conversion shall relate to either a Commodity Put Option or a Commodity Call Option (each, a "Commodity Option"). A Commodity Option shall constitute the grant by the Bank to the Borrower of the right (exercisable as provided in this Article) to cause the Bank to pay the Cash Settlement Amount, if any, on the Commodity Conversion Settlement Date. (b) If, at the Commodity Conversion Maturity Date under a Commodity Call Option, the Specified Price exceeds the Strike Price, the "Cash Settlement Amount" shall equal the product of (i) the excess of the Specified Price over the Strike Price multiplied by (ii) the Notional Quantity of such Commodity Option. Otherwise, the "Cash Settlement Amount" for such Commodity Call Option shall be zero. (c) If, at the Commodity Conversion Maturity Date under a Commodity Put Option, the Strike Price exceeds the Specified Price, the "Cash Settlement Amount" shall equal the product of (i) the excess of the Strike Price over the Specified Price multiplied by (ii) the Notional Quantity of such Commodity Option. Otherwise, the "Cash Settlement Amount" for such Commodity Put Option shall be zero. (d) In case the Commodity Conversion refers to a binary Option Type, the “Cash Settlement Amount” will be determined on the basis of a formula to be specified in the Conversion Notification Letter (Article 5.01(b)(iv)(I) of these General Conditions). (e) On the Commodity Conversion Maturity Date, the Bank will determine and give notice to the Borrower of the Cash Settlement Amount. If the Cash Settlement Amount is greater than zero, the Bank will pay such amount to the Borrower on the Commodity Conversion Settlement Date. If a loan made to the Borrower, or guaranteed by the Borrower, is in arrears for over thirty (30) days, then the Bank may deduct from the Cash Settlement Amount due to the Borrower all amounts due and payable by the Borrower to the Bank under any loan made to or guaranteed by the Borrower that is in arrears for any length of time (either for more, or for less, than thirty (30) days). (f) If the Borrower shall fail to make a payment when due of any premium payable under the Commodity Conversion, and such failure is not cured within a reasonable time, the Bank may by written notice to the Borrower terminate the related Commodity Option, whereupon the Borrower shall pay to the Bank an amount determined by the Bank to be the amount that would be incurred by the Bank as a result of its unwinding or reallocating any related commodity hedge. Alternatively, the Bank may choose not to terminate the Commodity Option, in which case any Cash Settlement Amount resulting upon a Commodity Conversion Maturity Date will be applied as provided for in Article 5.06 of these General Conditions.

Commodity Conversions. Each Commodity Conversion shall be entered into on the following terms and conditions: (a) Each Commodity Conversion shall relate to either a Commodity Put Option or a Commodity Call Option (each, a "Commodity Option"). A Commodity Option shall constitute the grant by the Bank to the Borrower of the right (exercisable as provided in this Article) to cause the Bank to pay the Cash Settlement Amount, if any, on the Commodity Conversion Settlement Date. (b) If, at the Commodity Conversion Maturity Date under a Commodity Call Option, the Specified Price exceeds the Strike Price, the "Cash Settlement Amount" shall equal the product of (i) the excess of the Specified Price over the Strike Price multiplied by (ii) the Notional Quantity of such Commodity Option. Otherwise, the "Cash Settlement Amount" for such Commodity Call Option shall be zero. (c) If, at the Commodity Conversion Maturity Date under a Commodity Put Option, the Strike Price exceeds the Specified Price, the "Cash Settlement Amount" shall equal the product of (i) the excess of the Strike Price over the Specified Price multiplied by (ii) the Notional Quantity of such Commodity Option. Otherwise, the "Cash Settlement Amount" for such Commodity Put Option shall be zero. (d) In case the Commodity Conversion refers to a binary Option Type, the “Cash Settlement Amount” will be determined on the basis of a formula to be specified in the Conversion Notification Letter (Article 5.01(b)(iv)(I) of these General Conditions). (e) On the Commodity Conversion Maturity Date, the Bank will determine and give notice to the Borrower of the Cash Settlement Amount. If the Cash Settlement Amount is greater than zero, the Bank will pay such amount to the Borrower on the Commodity Conversion Settlement Date. If a loan made to the Borrower, or guaranteed by the Borrower, is in arrears for over thirty (30) days, then the Bank may deduct from the Cash Settlement Amount due to the Borrower in connection with a Commodity Conversion all amounts due and payable by the Borrower to the Bank under any loan made to or guaranteed by the Borrower that is in arrears for any length of time (either for more, or for less, than thirty (30) days). (f) If the Borrower shall fail to make a payment when due of any premium payable under the Commodity Conversion, and such failure is not cured within a reasonable time, the Bank may by written notice to the Borrower terminate the related Commodity Option, whereupon the Borrower shall pay to the Bank an amount determined by the Bank to be the amount that would be incurred by the Bank as a result of its unwinding or reallocating any related commodity hedge. Alternatively, the Bank may choose not to terminate the Commodity Option, in which case any Cash Settlement Amount resulting upon a Commodity Conversion Maturity Date will be applied as provided for in Article 5.06 of these General Conditions.

Commodity Conversions. Each Commodity Conversion shall be entered into on the following terms and conditions: (a) Each Commodity Conversion shall relate to either a Commodity Put Option or a Commodity Call Option (each, a "“Commodity Option"”). A Commodity Option shall constitute the grant by the Bank to the Borrower of the right (exercisable as provided in this ArticleArticle 5.11) to cause the Bank to pay the Cash Settlement Amount, if any, on the Commodity Conversion Settlement Date. (b) If, at the Commodity Conversion Maturity Date under a Commodity Call Option, the Specified Price exceeds the Strike Price, the "“Cash Settlement Amount" ” shall equal the product of (i) the excess of the Specified Price over the Strike Price multiplied by (ii) the Notional Quantity of such Commodity Option. Otherwise, the "“Cash Settlement Amount" ” for such Commodity Call Option shall be zero. (c) If, at the Commodity Conversion Maturity Date under a Commodity Put Option, the Strike Price exceeds the Specified Price, the "“Cash Settlement Amount" ” shall equal the product of (i) the excess of the Strike Price over the Specified Price multiplied by (ii) the Notional Quantity of such Commodity Option. Otherwise, the "“Cash Settlement Amount" ” for such Commodity Put Option shall be zero. (d) In case the Commodity Conversion refers to a binary Option Type, the “Cash Settlement Amount” will be determined on the basis of a formula to be specified in the Conversion Notification Letter (Article 5.01(b)(iv)(I) of these General Conditions). (e) On the Commodity Conversion Maturity Date, the Bank will determine and give notice to the Borrower of the Cash Settlement Amount. If the Cash Settlement Amount is greater than zero, the Bank will pay such amount to the Borrower on the Commodity Conversion Settlement Date. If a loan made to the Borrower, or guaranteed by the Borrower, is in arrears for over thirty (30) days, then the Bank may deduct from the Cash Settlement Amount due to the Borrower all amounts due and payable by the Borrower to the Bank under any loan made to or guaranteed by the Borrower that is in arrears for any length of time (either for more, or for less, than thirty (30) days). (f) If the Borrower shall fail to make a payment when due of any premium payable under the Commodity Conversion, and such failure is not cured within a reasonable time, the Bank may by written notice to the Borrower terminate the related Commodity Option, whereupon the Borrower shall pay to the Bank an amount determined by the Bank to be the amount that would be incurred by the Bank as a result of its unwinding or reallocating any related commodity hedge. Alternatively, the Bank may choose not to terminate the Commodity Option, in which case any Cash Settlement Amount resulting upon a Commodity Conversion Maturity Date will be applied as provided for in Article 5.06 of these General Conditions.

Commodity Conversions. Each Commodity Conversion shall be entered into on the following terms and conditions: (a) Each Commodity Conversion shall relate to either a Commodity Put Option or a Commodity Call Option (each, a "Commodity Option"). A Commodity Option shall constitute the grant by the Bank to the Borrower of the right (exercisable as provided in this ArticleArticle 5.12) to cause the Bank to pay the Cash Settlement Amount, if any, on the Commodity Conversion Settlement Date. (b) If, at the Commodity Conversion Maturity Date under a Commodity Call Option, the Specified Price exceeds the Strike Price, the "Cash Settlement Amount" shall equal the product of (i) the excess of the Specified Price over the Strike Price multiplied by (ii) the Notional Quantity of such ofsuch Commodity Option. Otherwise, the "Cash Settlement Amount" for such Commodity Call Option shall be zero. (c) If, at the Commodity Conversion Maturity Date under a Commodity Put Option, the Strike Price exceeds the Specified Price, the "Cash Settlement Amount" shall equal the product of (i) the excess of the Strike Price over the Specified Price multiplied by (ii) the Notional Quantity of such ofsuch Commodity Option. Otherwise, the "Cash Settlement Amount" for such Commodity Put Option shall be zero. (d) In case the Commodity Conversion refers to a binary Option Type, the “"Cash Settlement Amount” " will be determined on the basis of a ofa formula to be specified in the Conversion Notification Letter (Article 5.01(b)(iv)(I5.0l(b)(iv)(I) of these General Conditions). (e) On the Commodity Conversion Maturity Date, the Bank will determine and give notice to the Borrower of the Cash Settlement Amount. If the Cash Settlement Amount is greater than zero, the Bank will pay such amount to the Borrower on the Commodity Conversion Settlement Date. If a loan made to the Borrower, or guaranteed by the Borrower, is in arrears for over thirty (30) days, then the Bank may deduct from the Cash Settlement Amount due to the Borrower in connection with a Commodity Conversion all amounts due and payable by the Borrower to the Bank under any loan made to or guaranteed by the Borrower that is in arrears for any length of time oftime (either for more, or for less, than thirty (30) days). (f) If the Borrower shall fail to make a payment when due of any premium payable under the Commodity Conversion, and such failure is not cured within a reasonable time, the Bank may by written notice to the Borrower terminate the related Commodity Option, whereupon the Borrower shall pay to the Bank an amount determined by the Bank to be the amount that would be incurred by the Bank as a result of its ofits unwinding or reallocating any related commodity hedge. Alternatively, the Bank may choose not to terminate the Commodity Option, in which case any Cash Settlement Amount resulting upon a Commodity Conversion Maturity Date will be applied as provided for in Article 5.06 of these General Conditions.

Commodity Conversions. Each Commodity Conversion shall be entered into on the following terms and conditions: (a) Each Commodity Conversion shall relate to either a Commodity Put Option or a Commodity Call Option (each, a "Commodity Option"). A Commodity Option shall constitute the grant by the Bank to the Borrower Counter-Guarantor of the right (exercisable as provided in this Article) to cause the Bank to pay the Cash Settlement Amount, if any, on the Commodity Conversion Settlement Date. (b) If, at the Commodity Conversion Maturity Date under a Commodity Call Option, the Specified Price exceeds the Strike Price, the "Cash Settlement Amount" shall equal the product of (i) the excess of the Specified Price over the Strike Price multiplied by (ii) the Notional Quantity of such Commodity Option. Otherwise, the "Cash Settlement Amount" for such Commodity Call Option shall be zero. (c) If, at the Commodity Conversion Maturity Date under a Commodity Put Option, the Strike Price exceeds the Specified Price, the "Cash Settlement Amount" shall equal the product of (i) the excess of the Strike Price over the Specified Price multiplied by (ii) the Notional Quantity of such Commodity Option. Otherwise, the "Cash Settlement Amount" for such Commodity Put Option shall be zero. (d) In case the Commodity Conversion refers to a binary Option Type, the “Cash Settlement Amount” will be determined on the basis of a formula to be specified in the Conversion Notification Letter (Article 5.01(b)(iv)(I4.01(b)(iv)(I) of these General Conditions). (e) On the Commodity Conversion Maturity Date, the Bank will determine and give notice to the Borrower Counter-Guarantor of the Cash Settlement Amount. If the Cash Settlement Amount is greater than zero, the Bank will pay such amount to the Borrower Counter-Guarantor on the Commodity Conversion Settlement Date. If a loan made to the BorrowerCounter-Guarantor, or guaranteed by the BorrowerCounter-Guarantor, is in arrears for over thirty (30) days, then the Bank may deduct from the Cash Settlement Amount due to the Borrower Counter-Guarantor all amounts due and payable by the Borrower Counter-Guarantor to the Bank under any loan made to or guaranteed by the Borrower Counter-Guarantor that is in arrears for any length of time (either for more, or for less, than thirty (30) days). (f) If the Borrower Counter-Guarantor shall fail to make a payment when due of any premium payable under the Commodity Conversion, and such failure is not cured within a reasonable time, the Bank may by written notice to the Borrower Counter-Guarantor terminate the related Commodity Option, whereupon the Borrower Counter-Guarantor shall pay to the Bank an amount determined by the Bank to be the amount that would be incurred by the Bank as a result of its unwinding or reallocating any related commodity hedge. Alternatively, the Bank may choose not to terminate the Commodity Option, in which case any Cash Settlement Amount resulting upon a Commodity Conversion Maturity Date will be applied as provided for in Article 5.06 4.06 of these General Conditions.