Common use of CREDITOR INFORMATION Clause in Contracts

CREDITOR INFORMATION. PART 1 – Complete this part if the Creditor HAS a lien or security on the Agricultural Product(s) or the BRM Program Proceeds related to the Agricultural Product(s). located at (herein referred to as the “Creditor”), does hereby consent that: Name of Bank or Lending Institution or Secured Party In consideration of an advance being issued under the APP by BCBFA BC Breeder & Feeder Association (herein referred to as the “Administrator”) to the Producer, the Administrator and the Creditor agree that the security interest in the Agricultural Product(s) listed above for which the advance was issued, or the BRM program payment(s) related to the aforementioned Agricultural Product(s) as required for the Producer’s advance, now held or to be held by the Administrator, shall rank prior to any lien or security on the said Agricultural Product(s) or any BRM program(s) payments given by the Producer to the Creditor, whether such security was given under the authority of the Bank Act or under the authority of a personal property security legislation in force in the province or by operation of any other law, but only to the extent of securing repayment to the Administrator of the advance payment up to the lesser of the principal amount of $400,000 or the amount as set out in the Repayment Agreement entered into between the Producer and Administrator on- (YYY-MM-DD), plus interest on that amount and any potential collection and legal costs. Any BRM program proceeds payable to the Producer from the date this Agreement is signed until full payment of the above-mentioned amounts shall be sent to the Administrator. Notwithstanding the priorities set out in this Agreement, the Administrator acknowledges that the Producer will operate bank accounts with the Creditor into which proceeds of property subject to the Administrator's security interest may be deposited. With the exception of any monies deposited in any accounts designated as trust accounts by the Producer for the benefit of the Administrator, the Creditor shall have no obligation to the Administrator with respect to any monies in any other account of the Producer maintained with the Creditor, or any monies that may be deposited therein or disbursed from any such other accounts, except for monies deposited therein after the Creditor has received notice from the Administrator and that the Administrator is thereafter exercising its rights in and to proceeds of the property subject to its security. Prior to proceeding to enforce its security, the Administrator or the Creditor, as the case may be, shall provide reasonable prior written notice of such enforcement to the other of them. For the purposes of giving effect to any of the Producer’s undertakings under this Priority Agreement, the Producer shall make, execute and deliver to the Creditor or the Administrator, any documents or Agreements as the BRM Program Administrator may reasonably request. The Creditor has has not (please check one) taken an assignment of the producer’s (name of BRM Program) payments related to the Agricultural Product(s). Where the Creditor has a lien or security on the Agricultural Product(s) or the BRM program proceeds related to the Agricultural Product(s), this Agreement is subject to the condition that the above mentioned advance, less any amounts legally held as an administrative fee, be payable: O A) Jointly to the Producer and the Creditor and be remitted to the Creditor forthwith by the Producer and shall be applied in total or in part by the Creditor to reduce the Producer’s indebtedness to the Creditor; or O B) To the Producer. If neither options are selected, the parties are deemed to have agreed that the advance payment is to be made jointly in accordance with Option A. This Agreement shall continue in full force and effect until the date upon which all advances referred to herein and interest outstanding on these advances are repaid to the Administrator by the Producer. In the case of a Lender: Lending Institution: Transit:

CREDITOR INFORMATION. PART 1 – Complete this part if the Creditor HAS a lien or security on the Agricultural Product(s) or the BRM Program Proceeds related to the Agricultural Product(s). located at (herein referred to as the “Creditor”), does hereby consent that: Name of Bank or Lending Institution or Secured Party In consideration of an advance being issued under the APP by BCBFA BC Breeder & Feeder Association (herein referred to as the “Administrator”) to the Producer, the Administrator and the Creditor agree that the security interest in the Agricultural Product(s) listed above for which the advance was issued, or the BRM program payment(s) related to the aforementioned Agricultural Product(s) as required for the Producer’s advance, now held or to be held by the Administrator, shall rank prior to any lien or security on the said Agricultural Product(s) or any BRM program(s) payments given by the Producer to the Creditor, whether such security was given under the authority of the Bank Act or under the authority of a personal property security legislation in force in the province or by operation of any other law, but only to the extent of securing repayment to the Administrator of the advance payment up to the lesser of the principal amount of $400,000 1,000,000 or the amount as set out in the 2020 Repayment Agreement entered into between the Producer and Administrator on- (YYY-MM-DD), plus interest on that amount and any potential collection and legal costs. Any BRM program proceeds payable to the Producer from the date this Agreement is signed until full payment of the above-mentioned amounts shall be sent to the Administrator. Notwithstanding the priorities set out in this Agreement, the Administrator acknowledges that the Producer will operate bank accounts with the Creditor into which proceeds of property subject to the Administrator's security interest may be deposited. With the exception of any monies deposited in any accounts designated as trust accounts by the Producer for the benefit of the Administrator, the Creditor shall have no obligation to the Administrator with respect to any monies in any other account of the Producer maintained with the Creditor, or any monies that may be deposited therein or disbursed from any such other accounts, except for monies deposited therein after the Creditor has received notice from the Administrator and that the Administrator is thereafter exercising its rights in and to proceeds of the property subject to its security. Prior to proceeding to enforce its security, the Administrator or the Creditor, as the case may be, shall provide reasonable prior written notice of such enforcement to the other of them. For the purposes of giving effect to any of the Producer’s undertakings under this Priority Agreement, the Producer shall make, execute and deliver to the Creditor or the Administrator, any documents or Agreements as the BRM Program Administrator may reasonably request. The Creditor has has not (please check one) taken an assignment of following Production Insurance Programs/BRM Coverage have or may hereafter be assigned by the producer’s (name of BRM Program) payments related Producer to the Agricultural Product(sAdministrator as security for all Advances now or hereafter made under the APP in the above Program Year: Production Insurance Program Global Ag Risk Solutions and/or Northbridge General Insurance Company ("GARS"). Western Livestock Price Insurance Program (WLPIP). AgriStability. Where the Creditor has a lien or security on the Agricultural Product(s) or the BRM program proceeds related to the Agricultural Product(s), this Agreement is subject to the condition that the above mentioned advance, less any amounts legally held as an administrative fee, be payable: O A) Jointly to the Producer and the Creditor and be remitted to the Creditor forthwith by the Producer and shall be applied in total or in part by the Creditor to reduce the Producer’s indebtedness to the Creditor; or O B) To the Producer. If neither options are selected, the parties are deemed to have agreed that the advance payment is to be made jointly in accordance with Option A. This Agreement shall continue in full force and effect until the date upon which all advances referred to herein and interest outstanding on these advances are repaid to the Administrator by the Producer. In the case of a Lender: Lending Institution: Transit:A.

CREDITOR INFORMATION. PART 1 – Complete this part if the Creditor HAS a lien or security on the Agricultural Product(s) or the BRM Program Proceeds related to the Agricultural Product(s). located at (herein referred to as the “Creditor”), does hereby consent that: Name of Bank or Lending Institution or Secured Party In consideration of an advance being issued under the APP by BCBFA BC Breeder & Feeder Association (herein referred to as the “Administrator”) to the Producer, the Administrator and the Creditor agree that the security interest in the Agricultural Product(s) listed above for which the advance was issued, or the BRM program payment(s) related to the aforementioned Agricultural Product(s) as required for the Producer’s advance, now held or to be held by the Administrator, shall rank prior to any lien or security on the said Agricultural Product(s) or any BRM program(s) payments given by the Producer to the Creditor, whether such security was given under the authority of the Bank Act or under the authority of a personal property security legislation in force in the province or by operation of any other law, but only to the extent of securing repayment to the Administrator of the advance payment up to the lesser of the principal amount of $400,000 1,000,000 or the amount as set out in the 2021 Repayment Agreement entered into between the Producer and Administrator on- (YYY-MM-DD), plus interest on that amount and any potential collection and legal costs. Any BRM program proceeds payable to the Producer from the date this Agreement is signed until full payment of the above-mentioned amounts shall be sent to the Administrator. Notwithstanding the priorities set out in this Agreement, the Administrator acknowledges that the Producer will operate bank accounts with the Creditor into which proceeds of property subject to the Administrator's security interest may be deposited. With the exception of any monies deposited in any accounts designated as trust accounts by the Producer for the benefit of the Administrator, the Creditor shall have no obligation to the Administrator with respect to any monies in any other account of the Producer maintained with the Creditor, or any monies that may be deposited therein or disbursed from any such other accounts, except for monies deposited therein after the Creditor has received notice from the Administrator and that the Administrator is thereafter exercising its rights in and to proceeds of the property subject to its security. Prior to proceeding to enforce its security, the Administrator or the Creditor, as the case may be, shall provide reasonable prior written notice of such enforcement to the other of them. For the purposes of giving effect to any of the Producer’s undertakings under this Priority Agreement, the Producer shall make, execute and deliver to the Creditor or the Administrator, any documents or Agreements as the BRM Program Administrator may reasonably request. The Creditor has has not (please check one) taken an assignment of following Production Insurance Programs/BRM Coverage have or may hereafter be assigned by the producer’s (name of BRM Program) payments related Producer to the Agricultural Product(sAdministrator as security for all Advances now or hereafter made under the APP in the above Program Year: Production Insurance Program Global Ag Risk Solutions and/or Northbridge General Insurance Company ("GARS"). Western Livestock Price Insurance Program (WLPIP). AgriStability. Where the Creditor has a lien or security on the Agricultural Product(s) or the BRM program proceeds related to the Agricultural Product(s), this Agreement is subject to the condition that the above mentioned advance, less any amounts legally held as an administrative fee, be payable: O A) Jointly to the Producer and the Creditor and be remitted to the Creditor forthwith by the Producer and shall be applied in total or in part by the Creditor to reduce the Producer’s indebtedness to the Creditor; or O B) To the Producer. If neither options are selected, the parties are deemed to have agreed that the advance payment is to be made jointly in accordance with Option A. This Agreement shall continue in full force and effect until the date upon which all advances referred to herein and interest outstanding on these advances are repaid to the Administrator by the Producer. In the case of a Lender: Lending Institution: Transit:

CREDITOR INFORMATION. PART 1 – Complete this part if the Creditor HAS a lien or security on the Agricultural Product(s) or the BRM Program Proceeds related to the Agricultural Product(s). located at (herein referred to as the “Creditor”), does hereby consent that: Name of Bank or Lending Institution or Secured Party In consideration of an advance being issued under the APP by BCBFA BC Breeder & Feeder Association (herein referred to as called the “Administrator”) to the Producer, the Administrator and the Creditor agree that the security interest in the Agricultural Product(s) listed above for which the advance was issuedmade, or the BRM Business Risk Management (BRM) program payment(s) related to the aforementioned Agricultural Product(s) as required for the Producer’s advance, now held or to be held by the Administrator, shall rank prior to any lien or security on the said Agricultural Product(s) or any BRM program(s) payments Product given by the Producer to the Creditor, whether such security was given under the authority of the Bank Act or under the authority of a personal Personal property security legislation in force in the province or by operation of any other law, but only to the extent of securing repayment to the Administrator of the advance payment up to the lesser of the principal amount of $400,000 or the amount of $ , as set out in the Repayment Agreement entered into between the Producer and Administrator on- (YYY-MM-DDdate), plus interest on that amount and any potential collection and legal costs. Any BRM program Program proceeds payable to the Producer from the date this Agreement is signed until full payment of the above-mentioned amounts shall be sent to the Administrator. Notwithstanding the priorities set out in this Agreement, the Administrator acknowledges that the Producer will operate bank accounts with the Creditor into which proceeds of property subject to the Administrator's security interest may be deposited. With the exception of any monies deposited in any accounts designated as trust accounts by the Producer for the benefit of the Administrator, the Creditor shall have no obligation to the Administrator with respect to any monies in any other account of the Producer maintained with the Creditor, or any monies that may be deposited therein or disbursed from any such other accounts, except for monies deposited therein after the Creditor has received notice from the Administrator and that the Administrator is thereafter exercising its rights in and to proceeds of the property subject to its securitySecurity. Prior to proceeding to enforce its security, the Administrator or the Creditor, as the case may be, shall provide reasonable prior written notice of such enforcement to the other of them. For the purposes of giving effect to any of the Producer’s undertakings under this Priority Agreement, the Producer shall make, execute and deliver to the Creditor or the Administrator, any documents or Agreements as the BRM Program Administrator may reasonably request. The Creditor has has not (please check one) taken an assignment of the producerapplicant’s (name of BRM Program) payments related to the Agricultural Product(s)Product. Where the Creditor has a lien or security on the Agricultural Product(s) or the BRM program proceeds related to the Agricultural Product(s), this Agreement is subject to the condition that the above mentioned advance, less any amounts legally held as an administrative fee, be payable: O A) Jointly to the Producer and the Creditor and be remitted to the Creditor forthwith by the Producer and shall be applied in total or in part by the Creditor to reduce the Producer’s indebtedness to the Creditor; or O B) To the Producerproducer. If neither of the above options are is selected, the parties are deemed to have agreed that the advance payment is to be made jointly in accordance with Option option A. This Agreement shall continue in full force and effect until the date upon which all advances referred to herein and interest outstanding on these advances are repaid to the Administrator by the Producer. In the case of a Lender: Lending Institution: Transit: