Common use of Conversion Requirements Clause in Contracts

Conversion Requirements. Any Conversion shall be subject to the following requirements: (a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding or, if applicable, on the ability of the Bank to enter into any hedge on terms and conditions acceptable to the Bank in its sole discretion, in accordance with its policies, and will be subject to legal, operational, and risk management considerations and prevailing market conditions. (b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless: (i) in the case of the last disbursement, the undisbursed amount is less; or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any tranche of the Loan is less. (c) The number of Currency Conversions to Principal Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency. (d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract. (e) There will be no limit to the number of Commodity Conversions that can be executed during the term of this Contract. (f) Each Commodity Conversion will only be executed by the Bank in relation to Outstanding Loan Balances in accordance with the following formula (hereinafter, the “Required Outstanding Loan Balance”): (i) For Commodity Call Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Z – Strike Price), where Z is the highest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank; and (ii) For Commodity Put Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Strike Price – Y), where Y is the lowest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank. (g) Any modification to the Amortization Schedule requested by the Borrower at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02(c) and 5.03(b) of these General Conditions. Any modification to the Amortization Schedule requested by the Borrower at the time of requesting an Interest Rate Conversion shall be subject to the provisions of Articles 3.02(c) and 5.04(b) of these General Conditions. (h) The Amortization Schedule defined in the Conversion Notification Letter, resulting from a Currency Conversion or Interest Rate Conversion may not be subsequently modified during the Conversion Period, unless the Bank agrees otherwise. (i) Unless the Bank agrees otherwise, an Interest Rate Conversion with respect to amounts that have been subject to a previous Currency Conversion may only be effected: (i) on the entire Outstanding Loan Balance associated with such Currency Conversion; and (ii) for a term equal to the remaining term of such Currency Conversion.

Conversion Requirements. Any Conversion shall be subject to the following requirements: (a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding or, if applicable, on the ability of the Bank to enter into any hedge on terms and conditions acceptable to the Bank in its sole discretionfunding, in accordance with its policies, and will be subject to legal, operational, and risk management considerations and prevailing market conditions. (b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless: (i) in the case of the last disbursement, the undisbursed amount is less; or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any tranche of the Loan is less. (c) The number of Currency Conversions to Principal Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency. (d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract. (e) There will be no limit to the number of Commodity Conversions that can be executed during the term of this Contract. (f) Each Commodity Conversion will only be executed by the Bank in relation to Outstanding Loan Balances in accordance with the following formula (hereinafter, the “Required Outstanding Loan Balance”): (i) For Commodity Call Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Z – Strike Price), where Z is the highest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank; and (ii) For Commodity Put Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Strike Price – Y), where Y is the lowest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank. (g) Any modification to the Amortization Schedule requested by the Borrower at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02(c) and 5.03(b) of these General Conditions. Any modification to the Amortization Schedule requested by the Borrower at the time of requesting an Interest Rate Conversion shall be subject to the provisions of Articles 3.02(c) and 5.04(b) of these General Conditions. (hf) The Amortization Schedule defined in the Conversion Notification Letter, resulting from a Currency Conversion or Interest Rate Conversion Conversion, may not be subsequently modified during the Conversion Period, unless the Bank agrees otherwise. (ig) Unless the Bank agrees otherwise, an Interest Rate Conversion with respect to amounts that have been subject to a previous Currency Conversion may only be effected: (i) on the entire Outstanding Loan Balance associated with such Currency Conversion; and (ii) for a term equal to the remaining term of such Currency Conversion.

Conversion Requirements. Any Conversion shall be subject to the following requirements, as applicable: (a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding or, if applicable, on the ability of the Bank to enter into any hedge on terms and conditions acceptable to the Bank in its sole discretion, in accordance with its policies, and will be subject to legal, operational, operational and risk management considerations and prevailing market conditions. (b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless: unless (i) in the case of the last disbursement, the undisbursed amount is less; , or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any tranche of the Loan Tranche is less. (c) The number of Currency Conversions to Principal Non-Borrowing Member Country Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency. (d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract. (e) There will be no limit to the number of Commodity Conversions or Catastrophe Protection Conversions that can be executed during the term of this Contract. (f) Each Commodity Conversion will only be executed by the Bank in relation to Outstanding Loan Balances in accordance with the following formula (hereinafter, the “Required Outstanding Loan Balance”): (i) For Commodity Call Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Z – Strike Price), where Z is the highest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank; and (ii) For Commodity Put Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Strike Price – Y), where Y is the lowest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank. (g) Any modification to the Amortization Schedule requested by the Borrower at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02(c) and 5.03(b) of these General Conditions. Any modification to the Amortization Schedule requested by the Borrower at the time of requesting an Interest Rate Conversion shall be subject to the provisions of Articles 3.02(c) and 5.04(b) of these General Conditions. (h) The Amortization Schedule defined in the Conversion Notification Letter, resulting from a Currency Conversion or Interest Rate Conversion Conversion, may not be subsequently modified during the Conversion Period, unless the Bank agrees otherwise. (i) Unless the Bank agrees otherwise, an Interest Rate Conversion with respect to amounts that have been subject to a previous Currency Conversion may only be effected: (i) on the entire Outstanding Loan Balance associated with such Currency Conversion; , and (ii) for a term equal to the remaining term of such Currency Conversion.

Conversion Requirements. Any Conversion shall be subject to the following requirements: (a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding or, if applicable, on the ability of the Bank to enter into any hedge on terms and conditions acceptable to the Bank in its sole discretion, in accordance with its policies, and will be subject to legal, operational, operational and risk management considerations and prevailing market conditions. (b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless: unless (i) in the case of the last disbursement, the undisbursed amount is less; , or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any tranche of the Loan Tranche is less. (c) The number of Currency Conversions to Principal Non-Borrowing Member Country Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency. (d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract. (e) There will be no limit to the number of Commodity Conversions that can be executed during the term of this Contract. (f) Each Commodity Conversion will only be executed by the Bank in relation to Outstanding Loan Balances in accordance with the following formula (hereinafter, the “Required Outstanding Loan Balance”): (i) For Commodity Call Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Z – Strike Price), where Z is the highest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank; and (ii) For Commodity Put Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Strike Price – Y), where Y is the lowest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank. (g) Any modification to the Amortization Schedule requested by the Borrower at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02(c) and 5.03(b) of these General Conditions. Any modification to the Amortization Schedule requested by the Borrower at the time of requesting an Interest Rate Conversion shall be subject to the provisions of Articles 3.02(c) and 5.04(b) of these General Conditions. (h) The Amortization Schedule defined in the Conversion Notification Letter, resulting from a Currency Conversion or Interest Rate Conversion Conversion, may not be subsequently modified during the Conversion Period, unless the Bank agrees otherwise. (i) Unless the Bank agrees otherwise, an Interest Rate Conversion with respect to amounts that have been subject to a previous Currency Conversion may only be effected: (i) on the entire Outstanding Loan Balance associated with such Currency Conversion; , and (ii) for a term equal to the remaining term of such Currency Conversion.

Conversion Requirements. Any Conversion shall be subject to the following requirements: (a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding or, if applicable, on the ability of the Bank to enter into any hedge on terms and conditions acceptable to the Bank in its sole discretionfunding, in accordance with its policies, and will be subject to legal, operational, operational and risk management considerations and prevailing market conditions. (b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless: unless (i) in the case of the last disbursement, the undisbursed amount is less; , or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any tranche of the Loan is less. (c) The number of Currency Conversions to Principal Non-Borrowing Member Country Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency. (d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract. (e) There will be no limit to the number of Commodity Conversions that can be executed during the term of this Contract. (f) Each Commodity Conversion will only be executed by the Bank in relation to Outstanding Loan Balances in accordance with the following formula (hereinafter, the “Required Outstanding Loan Balance”): (i) For Commodity Call Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Z – Strike Price), where Z is the highest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank; and (ii) For Commodity Put Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Strike Price – Y), where Y is the lowest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank. (g) Any modification to the Amortization Schedule requested by the Borrower at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02(c) and 5.03(b) of these General Conditions. Any modification to the Amortization Schedule requested by the Borrower at the time of requesting an Interest Rate Conversion shall be subject to the provisions of Articles 3.02(c) and 5.04(b) of these General Conditions. (hf) The Amortization Schedule defined in the Conversion Notification Letter, resulting from a Currency Conversion or Interest Rate Conversion Conversion, may not be subsequently modified during the Conversion Period, unless the Bank agrees otherwise. (ig) Unless the Bank agrees otherwise, an Interest Rate Conversion with respect to amounts that have been subject to a previous Currency Conversion may only be effected: (i) on the entire Outstanding Loan Balance associated with such Currency Conversion; , and (ii) for a term equal to the remaining term of such Currency Conversion.

Conversion Requirements. Any Conversion shall be subject to the following requirements, as applicable: (a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding or, if applicable, on the ability of the Bank to enter into any hedge on terms and conditions acceptable to the Bank in its sole discretion, in accordance with its policies, and will be subject to legal, operational, operational and risk management considerations and prevailing market conditions. (b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless: (i) in the case of the last disbursement, the undisbursed amount is less; or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any tranche of the Loan is less. (c) The number of Currency Conversions to Principal Non-Borrowing Member Country Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency. (d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract. (e) There will be no limit to the number of Commodity Conversions or Catastrophe Protection Conversions that can be executed during the term of this Contract. (f) Each Commodity Conversion will only be executed by the Bank in relation to Outstanding Loan Balances in accordance with the following formula (hereinafter, the “Required Outstanding Loan Balance”): (i) For Commodity Call Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Z – Strike Price), where Z is the highest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank; and (ii) For Commodity Put Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Strike Price – Y), where Y is the lowest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank. (g) Any modification to the Amortization Schedule requested by the Borrower Counter-Guarantor at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02(c) and 5.03(bArticle 4.04(b) of these General Conditions, and to Bank’s operational and risk management considerations. Any modification to the Amortization Schedule requested by the Borrower Counter-Guarantor at the time of requesting an Interest Rate Conversion shall be subject to the provisions provision of Articles 3.02(c) and 5.04(bArticle 4.04(b) of these General Conditions, and to Bank’s operational and risk management considerations. In any case, the new Amortization Schedule shall not exceed the Original WAL nor the Final Amortization Date. (h) The Amortization Schedule defined in the Conversion Notification Letter, resulting from a Currency Conversion or Interest Rate Conversion Conversion, may not be subsequently modified during the Conversion Period, unless the Bank agrees otherwise. (i) Unless the Bank agrees otherwise, an Interest Rate Conversion with respect to amounts that have been subject to a previous Currency Conversion may only be effected: (i) on the entire Outstanding Loan Balance associated with such Currency Conversion; , and (ii) for a term equal to the remaining term of such Currency Conversion.

Conversion Requirements. Any Conversion shall be subject to the following requirements, as applicable: (a) The feasibility of the Bank to execute any Conversion will depend on the ability of the Bank to source its funding or, if applicable, on the ability of the Bank to enter into any hedge on terms and conditions acceptable to the Bank in its sole discretion, in accordance with its policies, and will be subject to legal, operational, and risk management considerations and prevailing market conditions. (b) The Bank will not execute Conversions on amounts that are less than the equivalent of three million Dollars (US$3,000,000), unless: (i) in the case of the last disbursement, the undisbursed amount is less; or (ii) in the case of a fully disbursed Loan, the Outstanding Loan Balance under any tranche of the Loan is less. (c) The number of Currency Conversions to Principal Currencies may not exceed four (4) during the term of this Contract. This limit shall not apply to Currency Conversions to Local Currency. (d) The number of Interest Rate Conversions may not exceed four (4) during the term of this Contract. (e) There will be no limit to the number of Commodity Conversions or Catastrophe Protection Conversions that can be executed during the term of this Contract. (f) Each Commodity Conversion will only be executed by the Bank in relation to Outstanding Loan Balances in accordance with the following formula (hereinafter, the “"Required Outstanding Loan Balance”"): (i) For Commodity Call Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Z – - Strike Price), where Z is the highest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank; and (ii) For Commodity Put Options, the Required Outstanding Loan Balance will be the Notional Quantity * (Strike Price – - Y), where Y is the lowest expected forward commodity price at the Commodity Conversion Maturity Date, for the relevant Option Type, as calculated by the Bank. (g) Any modification to the Amortization Schedule requested by the Borrower at the time of requesting a Currency Conversion shall be subject to the provisions of Articles 3.02(c) and 5.03(b) of these General Conditions. Any modification to the Amortization Schedule requested by the Borrower at the time of requesting an Interest Rate Conversion shall be subject to the provisions of Articles 3.02(c) and 5.04(b) of these General Conditions. (h) The Amortization Schedule defined in the Conversion Notification Letter, resulting from a Currency Conversion or Interest Rate Conversion may not be subsequently modified during the Conversion Period, unless the Bank agrees otherwise. (i) Unless the Bank agrees otherwise, an Interest Rate Conversion with respect to amounts that have been subject to a previous Currency Conversion may only be effected: (i) on the entire Outstanding Loan Balance associated with such Currency Conversion; and (ii) for a term equal to the remaining term of such Currency Conversion.