Common use of Farm Credit Equity and Security Clause in Contracts

Farm Credit Equity and Security. (a) So long as a Farm Credit Lender is a Lender hereunder, the Company will acquire equity in such Farm Credit Lender in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s Bylaws and Capital Plan (or their equivalent) (as each may be amended from time to time), except that the maximum amount of equity that the Company shall be required pursuant to this sentence to purchase in such Farm Credit Lender in connection with the Loans made by such Farm Credit Lender shall not exceed the maximum amount required by the Bylaws and the Capital Plan (or the equivalent) on the Original Closing Date. The Company acknowledges receipt of documents from each Farm Credit Lender that describe the nature of the applicable Borrowers’ stock and other equities in such Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lender (the “Farm Credit Equities”) as well as capitalization requirements, and agrees to be bound by the terms thereof.

Appears in 3 contracts

Samples: Credit Agreement (Constellation Brands, Inc.), Restatement Agreement (Constellation Brands, Inc.), Guarantee Agreement (Constellation Brands, Inc.)

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Farm Credit Equity and Security. (a) So long as a Farm Credit Lender is a Lender hereunder, the Company Borrower will acquire acquire, directly or through one or more of its Subsidiaries (and such Farm Credit Lender will make available to the Borrower or its applicable Subsidiaries for purchase) equity in such Farm Credit Lender in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s Bylaws and Capital Plan (or their equivalent) (as each may be amended from time to time), except that the maximum amount of equity that the Company Borrower shall be required pursuant to this sentence to purchase purchase, directly or through its applicable Subsidiaries, in such Farm Credit Lender in connection with the Loans made by such Farm Credit Lender shall not exceed the maximum amount required by the Bylaws and the Capital Plan (or the equivalent) on the Original Closing Restatement Effective Date. The Company Borrower acknowledges receipt of documents from each Farm Credit Lender that describe the nature of the applicable Borrowers’ Borrower’s stock and other equities in such Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lender (the “Farm Credit Equities”) as well as capitalization requirements, and agrees to be bound by the terms thereof.

Appears in 2 contracts

Samples: Amendment Agreement (Qwest Corp), Restatement Agreement (Centurylink, Inc)

Farm Credit Equity and Security. (a) So long as a Farm Credit Lender is a Lender hereunder, the Company will acquire equity in such Farm Credit Lender in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s Bylaws and Capital Plan (or their equivalent) (as each may be amended from time to time), except that the maximum amount of equity that the Company shall be required pursuant to this sentence to purchase in such Farm Credit Lender in connection with the Loans made by such Farm Credit Lender shall not exceed the maximum amount required by the Bylaws and the Capital Plan (or the equivalent) on the Original Closing Restatement Effective Date. The Company acknowledges receipt of documents from each Farm Credit Lender that describe the nature of the applicable Borrowers’ stock and other equities in such Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lender (the “Farm Credit Equities”) as well as capitalization requirements, and agrees to be bound by the terms thereof.

Appears in 2 contracts

Samples: Restatement Agreement (Constellation Brands, Inc.), Assignment and Assumption (Constellation Brands, Inc.)

Farm Credit Equity and Security. (a) So long as a Farm Credit Lender is a Lender hereunder, the Company will acquire equity in such Farm Credit Lender in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s Bylaws and Capital Plan (or their equivalent) (as each may be amended from time to time), except that the maximum amount of equity that the Company shall be required pursuant to this sentence to purchase in such Farm Credit Lender in connection with the Loans made by such Farm Credit Lender shall not exceed the maximum amount required by the Bylaws and the Capital Plan (or the equivalent) on the Original Closing Restatement Effective Date. The Company acknowledges receipt of documents from each Farm Credit Lender that describe the nature of the applicable Borrowers’ cash patronage, stock and other equities in such Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lender (the “Farm Credit Equities”) as well as capitalization requirements, and agrees to be bound by the terms thereof.

Appears in 2 contracts

Samples: Restatement Agreement (Constellation Brands, Inc.), Restatement Agreement (Constellation Brands, Inc.)

Farm Credit Equity and Security. (a) So long as a Farm Credit Lender is a Lender hereunder, the Company will acquire equity in such Farm Credit Lender in such amounts and at such times as such Farm Credit Lender may require requires in accordance with such Farm Credit Lender’s Bylaws bylaws and Capital Plan capital plan (or their equivalent) (as each may be amended from time to time), except that the maximum amount of equity that the Company shall be required pursuant to this sentence to purchase in such Farm Credit Lender in connection with the Loans made by such Farm Credit Lender shall not exceed the maximum amount required by the Bylaws bylaws and the Capital Plan capital plan (or the equivalent) as in effect on the Original Closing Effective Date. The Company acknowledges receipt receipt, as of the Effective Date and to the extent applicable, of documents from each Farm Credit Lender that describe the nature of the applicable Borrowers’ Company’s cash patronage, stock and other equities in such Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lender (the “Farm Credit Equities”) as well as capitalization requirements, and agrees to be bound by the terms thereof. The Company acknowledges that the Loans are non-patronage loans.

Appears in 2 contracts

Samples: Term Loan Agreement (Conagra Brands Inc.), Term Loan Agreement (Conagra Brands Inc.)

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Farm Credit Equity and Security. (a) So long as a Farm Credit Lender is a Lender hereunder, the Company will acquire equity in such Farm Credit Lender in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s Bylaws and Capital Plan (or their equivalent) (as each may be amended from time to time), except that the maximum amount of equity that the Company shall be required pursuant to this sentence to purchase in such Farm Credit Lender in connection with the Loans made by such Farm Credit Lender shall not exceed the maximum amount required by the Bylaws and the Capital Plan (or the equivalent) on the Original Closing Sixth Restatement Effective Date. The Company acknowledges receipt of documents from each Farm Credit Lender that describe the nature of the applicable Borrowers’ cash patronage, stock and other equities in such Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lender (the “Farm Credit Equities”) as well as capitalization requirements, and agrees to be bound by the terms thereof.

Appears in 1 contract

Samples: Restatement Agreement (Constellation Brands, Inc.)

Farm Credit Equity and Security. (a) So long as a Farm Credit Lender is a Lender hereunder, the Company Borrower will acquire acquire, directly or through one or more of its Subsidiaries (and such Farm Credit Lender will make available to the Borrower or its applicable Subsidiaries for purchase) equity in such Farm Credit Lender in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s Bylaws and Capital Plan (or their equivalent) (as each may be amended from time to time), except that the maximum amount of equity that the Company Borrower shall be required pursuant to this sentence to purchase purchase, directly or through its applicable Subsidiaries, in such Farm Credit Lender in connection with the Loans made by such Farm Credit Lender shall not exceed the maximum amount required by the Bylaws and the Capital Plan (or the equivalent) on the Original Closing Date. The Company Borrower acknowledges receipt of documents from each Farm Credit Lender that describe the nature of the applicable Borrowers’ Borrower’s stock and other equities in such Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lender (the "Farm Credit Equities") as well as capitalization requirements, and agrees to be bound by the terms thereof.

Appears in 1 contract

Samples: Credit Agreement (Centurylink, Inc)

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