Common use of Net Effect Clause in Contracts

Net Effect. The net effect of the exchange of Cooperative Equity Interests for equal Equity Interests in MCP Colorado shall be that the holders of Cooperative Equity Interests standing on the books of the Cooperative immediately prior to the Effective Time shall hold and will have equal Equity Interests in MCP Colorado immediately following the Effective Time, in terms of stated dollar amount on a dollar-for-dollar basis, year of issue (as determined necessary), loss allocation obligations and any other rights and preferences, and that the deferred patronage, unallocated reserves and other unallocated Equity Interests of the Cooperative, as standing on its books immediately prior to the Effective Time, shall be exchanged and credited for an equal Equity Interest in MCP Colorado immediately following the Effective Time, in terms of stated dollar amount on a dollar-for-dollar basis and other rights and preferences.

Net Effect. The net effect of the exchange of Cooperative Colorado Corporation Equity Interests for equal North Dakota Corporation Equity Interests in MCP Colorado shall be that the holders of Cooperative Colorado Corporation Equity Interests standing on the books of the Cooperative Colorado Corporation immediately prior to the Effective Time shall hold and will have equal North Dakota Corporation Equity Interests in MCP Colorado immediately following the Effective Time, in terms of stated dollar amount on a dollar-for-dollar basis, year of issue (as determined necessary), loss allocation obligations and any other rights and preferences, and that the deferred patronage, unallocated reserves and other unallocated Colorado Corporation Equity Interests of the CooperativeInterests, as standing on its books immediately prior to the Effective Time, shall be exchanged and credited for an equal North Dakota Corporation Equity Interest in MCP Colorado immediately following the Effective Time, in terms of stated dollar amount on a dollar-for-dollar basis and other rights and preferences.