Food Security Act. Neither any Borrower nor any of their Subsidiaries has received any notice given pursuant to Section 1324(e)(1) or (3) of the Food Security Act and there has not been filed any financing statement or notice, purportedly in compliance with the provisions of the Food Security Act, purporting to perfect, or continue perfected, a security interest in farm products purchased by any Borrower or any Subsidiary in favor of a secured creditor of the seller of such farm products, except under circumstances where such Borrower or Subsidiary has taken all actions necessary to ensure that such Borrower or Subsidiary obtains a waiver or release of any security interest in farm products covered by any such notice or financing statement or notice upon such Borrower’s or Subsidiary’s payment of the purchase price for such farm products. The Borrowers and each of their Subsidiaries have registered pursuant to Section 1324(c)(2)(D) of the Food Security Act, with the Secretary of State of each State in which are produced farm products purchased by any Borrower and any Subsidiary and which has established or hereafter establishes a central filing system, as a buyer of farm products produced in such State.
Food Security Act. (a) Promptly provide Lender with a copy of any notice received by a Borrower with respect to a security interest created by a seller of farm products or a secured creditor of a seller of farm products; and
(b) With respect to any farm products produced in a state with a central filing system, register with the secretary of state of such state prior to the purchase of such farm products and maintain such registration in full force and effect.
Food Security Act. Except where such failure could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, no Borrower has received any written notice pursuant to Section 1324(e)(1) or (3) of the FSA and there has not been filed any financing statement or notice, purportedly in compliance with the provisions of the FSA, that purports to perfect a security interest in farm products purchased by any Borrower in favor of a secured creditor of the seller of such farm products. Except where such failure could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, to the extent applicable, each Borrower has registered as a buyer of farm products, pursuant to Section 1324(c)(2)(D) of the FSA, with the Secretary of State of each State in which farm products are produced that are purchased by the Company or any of the Subsidiaries and which has a central filing system, and each such registration is in full force and effect.
Food Security Act. (a) No Borrower shall purchase any cotton or other goods that would constitute farm products if the seller were a Person engaged in farming operations, unless such Borrower acquires good title to such goods free and clear of all Liens (except Permitted Liens) and, in particular, free from any statutory or other grower’s or producer’s Liens in favor of any secured party who has taken steps under the Food Security Act or any other federal or state statute to preserve its Lien rights upon such goods notwithstanding the passage of title directly or indirectly to such Borrower.
(b) Each Borrower shall in all respects comply with all applicable Food Security Act Notices during their periods of effectiveness under the Food Security Act, including directions to make payments to the sellers by issuing payment instruments directly to the sellers’ secured party or jointly payable to the seller and the sellers’ secured party, as specified in the Food Security Act Notice, so as to terminate or release the security interest in cotton or other farmed products maintained under the Food Security Act. Each Borrower shall notify the Agent in writing within five (5) Business Days after receipt by such Borrower any notice received pursuant to the applicable provisions of the Food Security Act or pursuant to the UCC or any applicable local laws of any Lien filed with respect to cotton or any other farm products that may be purchased by such Borrower or intended for resale to such Borrower (a “Food Security Act Notice”).
(c) If at any time a Borrower purchases cotton or other farm products from a Person engaged in farming operations or an agent for such Person in a jurisdiction which has implemented the provisions of the Food Security Act with respect to the creation of a “central filing system,” such Borrower shall promptly register with the Secretary of State (or equivalent official) of each such jurisdiction, pursuant to the registration requirements of the Food Security Act and notify the Agent in writing of such registration with the central filing system and, if requested by the Agent, provide the Agent with copies of any Food Security Act Notices, master list, supplements thereto or otherwise materials then or thereafter received from the Secretary of State (or other official) of the central filing system by such Borrower.
Food Security Act. Borrowers have registered, as contemplated by the Food Security Act, with the Secretary of State of each State in which farm products purchased by any Borrower are produced and which has established, or hereafter establishes, a central filing system (as defined in the Food Security Act) as a buyer of farm products produced in such State (such registrations, “FSA Registrations”) and each FSA Registration is in full force and effect.
Food Security Act. The Borrowers will maintain their FSA Registrations where applicable and will cooperate fully with Agent in its efforts to obtain and analyze any information with respect to filings of “effective financing statements” or notices to Borrowers under the Food Security Act. Borrowers will issue joint checks to growers or suppliers and their respective secured parties or otherwise obtain a release of such secured party’s Lien in accordance with the Food Security Act.
Food Security Act. Except to the extent that it could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, no Borrower has received any written notice pursuant to Section 1324(e)(1) or (3) of the FSA and there has not been filed any financing statement or notice, purportedly in compliance with the provisions of the FSA, that purports to perfect a security interest in farm products purchased by any Borrower in favor of a secured creditor of the seller of such farm products. Except where such failure could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, to the extent applicable, each Borrower has registered as a buyer of farm products, pursuant to Section 1324(c)(2)(D) of the FSA, with the Secretary of State of each State in which farm products are 94
Food Security Act. Except to the extent that it could not reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect, no Borrower has received any written notice pursuant to Section 1324(e)(1) or (3) of the FSA and there has not been filed any financing statement or notice, purportedly in compliance with the provisions of the FSA, that purports to perfect a security interest in farm products purchased by any Borrower in favor of a secured creditor of the seller of such farm products. Except where such
Food Security Act. Food Security Act Notices and Acknowledgements, if applicable. Without limiting the generality of the provisions of the last paragraph of Section 9.03, for purposes of determining compliance with the conditions specified in this Section, each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Joint Administrative Agent shall have received notice from such Lender prior to the proposed Closing Date specifying its objection thereto.
Food Security Act. Within the one-year period prior to the date hereof, Borrower has not received any Food Security Act Notices or any assertion of a claim or the benefits of a trust under PACA.
