FULL RECOURSE OPTION. (1) Statesman may from time to time, at its option upon the terms and subject to the conditions contained in this Agreement, purchase from the Cooperative Crop Time Notes arising out of the sales of goods or the providing of services by the Cooperative, which Crop Time Notes Statesman has determined in its sole and absolute discretion to be acceptable (which Notes are herein referred to as "Eligible Notes"), notwithstanding the fact that such Notes have not been previously approved by Statesman. All purchases of such Notes shall be subject to full recourse to the Cooperative as provided in paragraph (2) of this Section 3E.03.
Appears in 4 contracts
Samples: Financing Services and Contributed Capital Agreement (Southern States Capital Trust Ii), Revolving Credit Agreement (Southern States Capital Trust I), Revolving Credit Agreement (Southern States Cooperative Inc)
