Common use of AgriStability, Product Insurance Payments, and Insurance Payments Received by Producer Clause in Contracts

AgriStability, Product Insurance Payments, and Insurance Payments Received by Producer. In the event the Producer receives any AgriStability payments, Product Insurance Payments which have been provided as security for an Advance in relation to an Agricultural Product, the Producer shall immediately remit these payments to the Administrator, to the extent required by the Administrator to pay the advance Indebtedness. In the event the Producer receives other insurance proceeds, these proceeds shall also be remitted to the Administrator to the extent required by the Administrator to pay the outstanding Advance Indebtedness.

AgriStability, Product Insurance Payments, and Insurance Payments Received by Producer. In the event the Producer receives any AgriStability payments, Product Insurance Payments which have been provided as security for an Advance in relation to an Agricultural Product, the Producer shall immediately remit these payments to the Administrator, to the extent required by the Administrator to pay the advance Advance Indebtedness. In the event the Producer receives other insurance proceeds, these proceeds shall also be remitted to the Administrator to the extent required by the Administrator to pay the outstanding Advance Indebtedness.