Common use of Discounted Capital Credit Payments Clause in Contracts

Discounted Capital Credit Payments. As determined by the Board, before the time the Cooperative anticipates normally retiring and paying Capital Credits, the Cooperative may retire some or all Capital Credits and pay the net present value of the retired Capital Credits. If the Cooperative retires and pays the net present value of Capital Credits to a Patron or former Patron before the time the Cooperative anticipates normally retiring and paying the Capital Credits, then the amount of Capital Credits not paid must be used or retained as permanent, unallocated equity.

Discounted Capital Credit Payments. As determined by the Board, before the time the Cooperative anticipates normally retiring and paying Capital Credits, the Cooperative may retire some or all Capital Credits and pay the net present value of the retired Capital Credits. If the Cooperative retires and pays the net present value of Capital Credits to a Patron Member or former Patron Member before the time the Cooperative anticipates normally retiring and paying the Capital Credits, then the amount of Capital Credits not paid must may be may be used or retained as permanent, unallocated equity, or equitably allocated.