Common use of Farm Credit Equity and Security Clause in Contracts

Farm Credit Equity and Security. (a) So long as any Farm Credit Lender is a Lender hereunder, the Borrower will (i) maintain its status as an entity eligible to borrow from such Farm Credit Lenders, and (ii) acquire equity in such Farm Credit Lenders in such amounts and at such times as each Farm Credit Lender may require in accordance with its bylaws and capital plan (as each may be amended or otherwise modified from time to time), except that the maximum amount of equity that the Borrower may be required to purchase in each Farm Credit Lender in connection with the Loans made by such Farm Credit Lender may not exceed the maximum amount permitted by the bylaws and capital plan of such Farm Credit Lender at the time this Agreement is entered into. The Borrower acknowledges receipt of a copy of (x) the most recent annual report, and if more recent, latest quarterly report for each Farm Credit Lender, (y) the Notice to Prospective Stockholders provided by CoBank, and any similar notice provided by the other Farm Credit Lenders and (z) the bylaws and capital plan of each Farm Credit Lender, which describe the nature of all of the Borrower’s cash patronage, stock and other equities in each Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lenders (the “Farm Credit Equities”) as well as capitalization requirements, and agrees to be bound by the terms thereof.

Farm Credit Equity and Security. (a) So long as any Farm Credit Lender is a Lender hereunder, the Borrower will (i) maintain its status as an entity eligible to borrow from such Farm Credit Lenders, and (ii) acquire equity in such Farm Credit Lenders in such amounts and at such times as each Farm Credit Lender may require in accordance with its bylaws and capital plan (as each may be amended or otherwise modified from time to time), except that the maximum amount of equity that the Borrower may be required to purchase in each Farm Credit Lender in connection with the Loans made by such Farm Credit Lender may not exceed the maximum amount permitted by the bylaws and capital plan of such Farm Credit Lender at the time this Agreement is entered into. The Borrower acknowledges receipt of a copy of (x) the most recent annual report, and if more recent, latest quarterly report for each Farm Credit Lender, (y) the Notice to Prospective Stockholders provided by CoBank, and any similar notice provided by the other Farm Credit Lenders and (z) the bylaws and capital plan of each Farm Credit Lender, which describe the nature of all of the Borrower’s cash patronage, stock and other equities in each Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lenders (the “Farm Credit Equities”) as well as capitalization requirements, and agrees to be bound by the terms thereof.

Farm Credit Equity and Security. (a) So long as any a Farm Credit Lender Bank (or its Affiliate) is a Lender hereunder, the each U.S. Borrower will shall (i) maintain its status as an entity eligible to borrow from such Farm Credit Lenders, Bank (or its Affiliate) and (ii) acquire equity in such Farm Credit Lenders Bank in such amounts and at such times as each such Farm Credit Lender Bank may require in accordance with its bylaws the Bylaws, capitalization plan and capital plan internal policies thereof (as each such documentation may be amended or otherwise modified from time to time, the “Farm Credit Equity Documents”), except that the maximum amount of equity that the Borrower U.S. Borrowers may be required to purchase in each such Farm Credit Lender Bank in connection with the Loans made by such Farm Credit Lender Bank (or its Affiliate) may not exceed the maximum amount permitted by the bylaws and capital plan of such applicable Farm Credit Lender Equity Documents at the time this Agreement is entered into. The In connection with the foregoing, Administrative Borrower acknowledges receipt of a copy of (x) the CoBank’s most recent annual report, and if more recent, CoBank’s latest quarterly report for each Farm Credit Lenderreport, (y) the CoBank’s Notice to Prospective Stockholders provided by CoBank, and any similar notice provided by the other Farm Credit Lenders and (z) the bylaws CoBank’s Bylaws and capital plan of each Farm Credit LenderCapital Plan, which describe the nature of all of the Borrower’s cash patronage, stock and other equities in each Farm Credit Lender acquired in connection with its patronage loan from such Farm Credit Lenders (the “Farm Credit Equities”) Equities of CoBank as well as capitalization requirements, and agrees to be bound by the terms thereofthereof to the extent CoBank is a Xxxxxx xxxxxxxxx.