Conditions to Conversions. The obligation of any Lender to Convert any Loan into a Eurodollar Rate Loan pursuant to a Notice of Conversion is subject to the satisfaction of the following conditions precedent that on the date of Conversion: (a) the Agent has received a Notice of Conversion in accordance with Section 2.07; (b) the representations and warranties set forth in Article V (other than in Sections 5.05 and 5.06(a)(ii)) are true and correct in all material respects (unless made as of a specific date as set forth therein); (c) no Default exists; and (d) such Conversion will not contravene any Governmental Requirement applicable to such Lender.
Appears in 2 contracts
Samples: Credit Agreement (Lyondell Chemical Co), Revolving Credit Agreement (Lyondell Chemical Co)
Conditions to Conversions. The obligation of any Lender to Convert any ------------------------- Loan into a Eurodollar Rate Loan pursuant to a Notice of Conversion is subject to the satisfaction of the following conditions precedent that on the date of Conversion:
(a) the Agent has received a Notice of Conversion in accordance with Section 2.07;
(b) the representations and warranties set forth in Article V (other than in Sections 5.05 and 5.06(a)(ii)) are true and correct in all material respects (unless made as of a specific date as set forth therein);
(c) no Default exists; and
(d) such Conversion will not contravene any Governmental Requirement applicable to such Lender.
Appears in 2 contracts
Samples: Revolving Credit Agreement (Lyondell Chemical Co), Revolving Credit Agreement (Lyondell Chemical Co)