Common use of CoBank Patronage Capital Clause in Contracts

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's patronage with CoBank shall be governed by CoBank's Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower on the records of CoBank. CoBank's Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's ’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and CoBank agrees that the amount of any distributions with respect to its patronage with CoBank all Loans that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) 1388) by CoBank and that are received by Borrower from CoBank, will be taken into retained for its own account by Borrower at the stated dollar amounts whether the distribution is evidenced by and not sold in a participation certificate or other form shall be entitled to patronage distributions in accordance with the CoBank’s Bylaws; all Loans that are made by CoBank and are included in a sale of written notice that such distribution has been made and recorded in the name of Borrower on the records of CoBanka participation shall not be entitled to patronage distributions. CoBank's ’s Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's ’s obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's ’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) § 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower Borrower, on the records of CoBank. CoBank's ’s Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's ’s obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's Xxxxxxxx’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) § 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower on the records of CoBank. CoBank's ’s Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's ’s obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's ’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank XxXxxx that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) § 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower Xxxxxxxx at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower on the records of CoBank. CoBank's ’s Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's ’s obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's ’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) § 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower on the records of CoBank. CoBank's ’s Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's ’s obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's Xxxxxxxx’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) § 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower Xxxxxxxx at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower on the records of CoBank. CoBank's ’s Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's ’s obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's patronage with CoBank shall be governed by CoBank's Bylaws. Borrower hereby consents and agrees agree that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) Section 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower Borrower, on the records of CoBank. CoBank's Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's patronage with CoBank shall be governed by CoBank's Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) Section 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower on the records of CoBank. CoBank's Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's obligations to CoBank.. Credit Agreement/D & E Communications, Inc.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ the Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that the Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws and the Capital Plan at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of the Borrower's ’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and CoBank agrees that the amount of any distributions with respect to its patronage with CoBank all Loans that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) 1388) by CoBank and that are received by Borrower from CoBank, will be taken into retained for its own account by Borrower at the stated dollar amounts whether the distribution is evidenced by and not sold in a participation certificate or other form (except to a participant that makes patronage distributions to CoBank) shall be entitled to patronage distributions in accordance with CoBank’s Bylaws; all Loans that are made by CoBank and are included in a sale of written notice a participation (except to a participant that such distribution has been made and recorded in the name of Borrower on the records of makes patronage distributions to CoBank) shall not be entitled to patronage distributions. CoBank's ’s Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which the Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to the Borrower's ’s obligations to CoBank. In the event of any liquidation, sale, transfer or other disposition of collateral that includes the Borrower’s participation certificates in CoBank, whether by foreclosure or otherwise, the proceeds attributable to such participation certificates shall be equal to the face value of such participation certificates as reflected in the official records of CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower CT, on behalf of Borrowers, will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower CT, on behalf of Borrowers, may be required to purchase in CoBank in connection with the Loans 14 25 Credit Agreement/CT Communications may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's Borrowers' patronage with CoBank shall be governed by CoBank's Bylaws. Borrower Borrowers hereby consents consent and agrees agree that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) ss. 1388) and that are received by Borrower CT, on behalf of Borrowers, from CoBank, will be taken into account by Borrower Borrowers at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower CT, on behalf of Borrowers, on the records of CoBank. CoBank's Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower Borrowers may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's Borrowers' obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as Second Amended and Restated Credit Agreement/D&E Communications, Inc. CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's ’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) § 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of Borrower Borrower, on the records of CoBank. CoBank's ’s Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's ’s obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ the Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that the Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws and the Capital Plan at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of the Borrower's patronage with CoBank shall be governed by CoBank's Bylaws. Borrower hereby consents and CoBank agrees that the amount of any distributions with respect to its patronage with CoBank all Loans that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) 1388) by CoBank and that are received by Borrower from CoBank, will be taken into retained for its own account by Borrower at the stated dollar amounts whether the distribution is evidenced by and not sold in a participation certificate or other form (except to a participant that makes patronage distributions to CoBank) shall be entitled to patronage distributions in accordance with CoBank's Bylaws; all Loans that are made by CoBank and are included in a sale of written notice a participation (except to a participant that such distribution has been made and recorded in the name of Borrower on the records of makes patronage distributions to CoBank) shall not be entitled to patronage distributions. CoBank's Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which the Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to the Borrower's obligations to CoBank. In the event of any liquidation, sale, transfer or other disposition of collateral that includes the Borrower's participation certificates in CoBank, whether by foreclosure or otherwise, the proceeds attributable to such participation certificates shall be equal to the face value of such participation certificates as reflected in the official records of CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's ’s Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws and the Capital Plan at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's ’s patronage with CoBank shall be governed by CoBank's ’s Bylaws. Borrower hereby consents and CoBank agrees that the amount of any distributions with respect to its patronage with CoBank all Loans that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) 1388) by CoBank and that are received by Borrower from CoBank, will be taken into retained for its own account by Borrower at the stated dollar amounts whether the distribution is evidenced by and not sold in a participation certificate or other form shall be entitled to patronage distributions in accordance with the CoBank’s Bylaws; all Loans that are made by CoBank and are included in a sale of written notice that such distribution has been made and recorded in the name of Borrower on the records of CoBanka participation shall not be entitled to patronage distributions. CoBank's ’s Pro Rata Share of the Loans and other Secured Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Secured Obligations due to any other LenderSecured Party. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's ’s obligations to CoBank. In the event of any liquidation, sale, transfer or other disposition of Collateral that includes Borrower’s participation certificates in CoBank, whether by foreclosure or otherwise, the proceeds attributable to such participation certificates shall be equal to the face value of such participation certificates as reflected in the official records of CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ the Borrower will acquire or maintain ownership of non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of non-voting participation certificates that the Borrower may be required to purchase acquire or maintain in CoBank in connection with the Loans may not exceed the lower of $1,000 and the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such non-voting participation certificates and any distributions made on account thereof or on account of the Borrower's patronage with CoBank shall be governed by CoBank's Bylaws. The Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) Section 1388) and that are received by the Borrower from CoBank, will be taken into account by the Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has been made and recorded in the name of the Borrower on the records of CoBank. CoBank's Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which the Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to the Borrower's obligations to CoBank.

CoBank Patronage Capital. So long as CoBank is a Lender hereunder, ------------------------ Borrower will acquire non-voting participation certificates in CoBank in such amounts and at such times as CoBank may require in accordance with CoBank's Bylaws and Capital Plan (as each may be amended from time to time), except that the maximum amount of participation certificates that Borrower may be required to purchase in CoBank in connection with the Loans may not exceed the maximum amount permitted by the Bylaws at the time this Agreement is entered into. The rights and obligations of the parties with respect to such participation certificates and any distributions made on account thereof or on account of Borrower's patronage with CoBank shall be governed by CoBank's Bylaws. Borrower hereby consents and agrees that the amount of any distributions with respect to its patronage with CoBank that are made in qualified written notices of allocation (as defined in 26 U.S.C. (S) ss. 1388) and that are received by Borrower from CoBank, will be taken into account by Borrower at the stated dollar amounts whether the distribution is evidenced by a participation certificate or other form of written notice that such distribution has Credit Agreement/US Unwired Inc. been made and recorded in the name of Borrower on the records of CoBank. CoBank's Pro Rata Share of the Loans and other Obligations due to CoBank shall be secured by a statutory first lien on all equity which Borrower may now own or hereafter acquire in CoBank. Such equity shall not, however, constitute security for the Obligations due to any other Lender. CoBank shall not be obligated to set off or otherwise apply such equities to Borrower's obligations to CoBank.