Cumulative Obligations. The obligation of the Cooperative hereunder to purchase Statesman Class A Preferred Stock shall be in addition to any other undertaking the Cooperative may have entered into or may hereafter enter into to purchase such stock as a result of Asset Based Financing or Installment Sales Financing provided by Statesman to any Local Cooperative, Independent Cooperative or Dealership of the Cooperative or any lease financing by Statesman for the Cooperative, and the obligations of the Cooperative to purchase Statesman Class A Preferred Stock under, or as a condition to, each such financing arrangement shall be cumulative.
Appears in 3 contracts
Samples: Financing Services and Contributed Capital Agreement (Southern States Capital Trust I), Revolving Credit Agreement (Southern States Cooperative Inc), Revolving Credit Agreement (Southern States Capital Trust I)
Cumulative Obligations. The obligation of the Cooperative ---------------------- hereunder to purchase Statesman Class A Preferred Stock shall be in addition to any other undertaking the Cooperative may have entered into or may hereafter enter into to purchase such stock as a result of Asset Based Financing or Installment Sales Financing provided by Statesman to any Local Cooperative, Independent Cooperative or Dealership of the Cooperative or any lease financing by Statesman for the Cooperative, and the obligations of the Cooperative to purchase Statesman Class A Preferred Stock under, or as a condition to, each such financing arrangement shall be cumulative.
Appears in 2 contracts
Samples: Financing Services and Contributed Capital Agreement (Southern States Cooperative Inc), Financing Services and Contributed Capital Agreement (Southern States Capital Trust Ii)
