Common use of Farm Credit Equity Clause in Contracts

Farm Credit Equity. (a) So long as (i) a Farm Credit Lender is a Lender or Voting Participant hereunder and (ii) such Farm Credit Lender has notified the Borrower that it is eligible to receive patronage distributions directly from such Farm Credit Lender or one of its Affiliates on account of the Loans made (or participated in) by such Farm Credit Lender hereunder, the Borrower will, as a condition to receiving such patronage distributions, acquire equity in such Farm Credit Lender or one of its Affiliate in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s or its Affiliate’s bylaws and capital plan or similar documents (as each may be amended from time to time), provided, however, that, notwithstanding anything to the contrary contained herein, the maximum amount of equity that the Borrower may be required to purchase in such Farm Credit Lender or one of its Affiliates in connection with the Loans made by such Farm Credit Lender hereunder shall not exceed the maximum amount required by the applicable bylaws, capital plan and related documents, in each case, (x) as in effect (and in the form provided to the Borrower) on the Closing Date or (y) in the case of a Farm Credit Lender that becomes a Lender or Voting Participant as a result of an assignment or sale of a participation, as in effect (and in the form provided to the Borrower) at the time of the closing of the related assignment or sale of participation. The Borrower acknowledges receipt of the documents from the respective Farm Credit Lenders that are listed on Schedule 4.01(h) (together with any similar documents delivered to the Borrower in connection with a Farm Credit Lender that becomes a Lender or Voting Participant as a result of an assignment or sale of a participation after the Closing Date, the “Farm Credit Equity Documents”), which describe the nature of the stock and/or other equities in such Farm Credit Lenders or its Affiliate required to be acquired by the Borrower in connection with the Loans made (or participated in) by such Farm Credit Lender (the “Farm Credit Equities”), as well as applicable capitalization requirements, and the Borrower agrees to be bound by the terms thereof.

Farm Credit Equity. (a) So long as (i) a any Farm Credit Lender is a Lender or Voting Participant hereunder and (ii) such Farm Credit Lender has notified the Borrower that it is eligible to receive patronage distributions directly from such Farm Credit Lender or one of its Affiliates on account of its portion of the Loans Term Loan made (or participated in) by such Farm Credit Lender hereunder, the Borrower will, as a condition to receiving such patronage distributions, acquire equity in such Farm Credit Lender or one of its Affiliate Affiliates in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s or its Affiliate’s bylaws and capital plan or similar documents (as each may be amended from time to time), provided, however, that, notwithstanding anything to the contrary contained herein, except that the maximum amount of equity that the Borrower may be required to purchase in such Farm Credit Lender or one of its Affiliates in connection with the Loans portion of the Term Loan made by such Farm Credit Lender hereunder shall may not exceed the maximum amount required permitted by the applicable bylaws, relevant bylaws and the capital plan and related documents, in each case, (x) as in effect (and in at the form provided to the Borrower) on the Closing Date time this Agreement is entered into or (y) in the case of a Farm Credit Lender that becomes a Lender or Voting Participant as a result of an assignment or sale of a participation, as in effect (and in the form provided to the Borrower) at the time of the closing of the related assignment or sale of participation. The Borrower acknowledges receipt of the documents from the respective Farm Credit Lenders that are listed described on Schedule 4.01(h) 6.13 (together with any similar documents delivered to the Borrower in connection with a Farm Credit Lender that becomes a Lender or Voting Participant as a result of an assignment or sale of a participation after the Closing Date, the “Farm Credit Equity Documents”), which describe the nature of all of the Borrower’s stock and/or other equities and participation certificates in such the respective Farm Credit Lenders (or its Affiliate required to be Affiliates thereof) acquired by the Borrower in connection with the Loans made (or participated in) by such Term Loan from the Farm Credit Lender Lenders hereunder (the “Farm Credit Equities”), ) as well as applicable relevant capitalization requirements, and the Borrower agrees to be bound by the terms thereof.

Farm Credit Equity. (a) So long as (i) a Farm Credit Lender is a Lender or Voting Participant hereunder and (ii) such Farm Credit Lender has notified the Borrower that it is eligible to receive patronage distributions directly from such Farm Credit Lender or one of its Affiliates on account of the Loans made (or participated in) by such Farm Credit Lender hereunder, the Borrower will, as a condition to receiving such patronage distributions, will acquire equity in such Farm Credit Lender or one of its Affiliate in such amounts and at such times as such Farm Credit Lender may require in accordance with such Farm Credit Lender’s or its Affiliate’s bylaws and capital plan or similar documents (as each may be amended from time to time), provided, however, that, that notwithstanding anything to the contrary contained herein, herein the maximum amount of equity that the Borrower may be required to purchase in such Farm Credit Lender or one of its Affiliates in connection with the Loans made by such Farm Credit Lender hereunder shall not exceed the maximum amount required by the applicable bylaws, capital plan and related documents, in each case, (x) as in effect (and in the form provided to the Borrower) on the Closing Date or (y) in the case of a Farm Credit Lender that becomes a Lender or Voting Participant as a result of an assignment or sale of a participation, as in effect (and in the form provided to the Borrower) at the time of the closing of the related assignment or sale of participation. The Each applicable Farm Credit Lender confirms delivery to the Borrower, and the Borrower acknowledges receipt receipt, of the documents from the respective Farm Credit Lenders that are listed on Schedule 4.01(h) (together with any similar documents delivered to the Borrower in connection with a such Farm Credit Lender that becomes a Lender or Voting Participant as a result of an assignment or sale of a participation after the Closing Date, the “Farm Credit Equity Documents”), which describe the nature of the stock and/or and other equities in such Farm Credit Lenders or its Affiliate Lender required to be acquired by the Borrower in connection with the Loans made (or participated in) by its patronage loan from such Farm Credit Lender (the “Farm Credit Equities”), ) as well as applicable capitalization requirements, and the Borrower agrees to be bound by the terms thereof. Each applicable Farm Credit Lender party hereto as of the Closing Date acknowledges and agrees that the amount of Farm Credit Equities of such Farm Credit Lender acquired by the Borrower on or prior to the Closing Date satisfies the requirements of this Section 5.12 in respect of the Total Commitments as of the Closing Date.