Common use of Farm Products Clause in Contracts

Farm Products. After the occurrence of an Event of Default, the Debtor shall not store, transfer or consign any farm products without the prior written consent of the Secured Party. The Debtor shall not store, transfer or consign any farm products without first obtaining a written acknowledgment from any person to whom physical possession of any such farm products are delivered (a) of the Secured Party’s security interest in such farm products, (b) that it holds possession of such farm products for the Secured Party’s benefit, (c) that it will not issue negotiable documents with respect to such farm products and (d) that it agrees to follow the Secured Party’s instructions as to disposition of farm products upon its receipt of such instructions. The Debtor will comply with the provisions of all federal, state or local government programs, agreements and contracts to which the Debtor is a party.

Farm Products. After the occurrence of an Event of Default, the Debtor shall not store, transfer or consign any farm products without the prior written consent of the Secured Party. The Debtor shall not store, transfer or consign any farm products without first obtaining a written acknowledgment from any person to whom physical possession of any such farm products are delivered (a) of the Secured Party’s security interest in such farm products, (b) that it holds possession of such farm products for the Secured Party’s (as collateral agent for the Banks) benefit, (c) that it will not issue negotiable documents with respect to such farm products and (d) that it agrees to follow the Secured Party’s instructions as to disposition of farm products upon its receipt of such instructions. The Debtor will comply with the provisions of all federal, state or local government programs, agreements and contracts to which the Debtor is a party.

Farm Products. After the occurrence of an Event of Default, the Debtor shall not store, transfer or consign any farm products without the prior written consent of the Secured Party. The Debtor shall not store, transfer or consign any farm products without first obtaining a written acknowledgment from any person to whom physical possession of any such farm products are delivered (a) of the Secured Party’s security interest in such farm products, (b) that it holds possession of such farm products for the Secured Party’s benefit, (c) that it will not issue negotiable documents with respect to such farm products and (d) that it agrees to follow the Secured Party’s instructions as to disposition of farm products upon its receipt of such instructions. The Debtor will comply with the provisions of all federal, state or local government programs, agreements and contracts to which the Debtor is a party.