Common use of Advances with respect to Livestock Clause in Contracts

Advances with respect to Livestock. (a) Subject to clause 2.1 of this Agreement, upon the execution of this Agreement by the Administrator, and upon receipt of verification of adequate Production Insurance, BRM Coverage or both, including but not limited to, a BRM Coverage Report and a LPI Program Coverage Report, as applicable, acceptable to the Administrator to secure the Eligible Advance requested by the Producer with respect to Livestock, the Administrator shall pay an Advance on the Livestock in an amount approved by the Administrator based on the Advance Worksheet and using the Advance Rate for Livestock; (b) If the value of the Livestock is not sufficient to justify the Advance made to the Producer, the Administrator shall notify the Producer to pay the Overpayment in accordance with Clause 3.6 of this Agreement. In the event this payment is not received, the Administrator may declare the Producer to be in Default under this Agreement.

Advances with respect to Livestock. (a) Subject to clause Subsection 2.1 of this Agreement, upon the execution of this Agreement by the Administrator, and upon receipt of verification of adequate Production Insurance, BRM Coverage Coverage, or both, both including but not limited to, to a BRM Coverage Report and a LPI WLPIP Program Coverage Report, as applicable, acceptable to the Administrator to secure the Eligible Advance requested by the Producer with respect to Livestock, the Administrator shall pay an Advance on the Livestock in an amount approved by the Administrator based on the Advance Worksheet and using the Advance Rate for Livestock; (b) If the value of the Livestock is not sufficient to justify the Advance made to the Producer, the Administrator shall notify the Producer to pay the Overpayment in accordance with Clause Section 3.6 of this Agreement. In the event this payment is not received, the Administrator may declare the Producer to be in Default under this Agreement.

Advances with respect to Livestock. (a) Subject to clause 2.1 of this Agreement, upon the execution of this Agreement by the Administrator, and upon receipt of verification of adequate Production Insurance, BRM Coverage or both, including but not limited to, a BRM Coverage Report and a LPI WLPIP Program Coverage Report, as applicable, acceptable to the Administrator to secure the Eligible Advance requested by the Producer with respect to Livestock, the Administrator shall pay an Advance on the Livestock in an amount approved by the Administrator based on the Advance Worksheet and using the Advance Rate for Livestock; (b) If the value of the Livestock is not sufficient to justify the Advance made to the Producer, the Administrator shall notify the Producer to pay the Overpayment in accordance with Clause 3.6 of this Agreement. In the event this payment is not received, the Administrator may declare the Producer to be in Default under this Agreement.