Purchase of Stock. Upon the delivery to Statesman of the first Receivables Certificate hereunder the Cooperative will purchase Statesman Class A Preferred Stock with such par value as will cause it to have a Minimum Class A Investment in Statesman Class A Preferred Stock and on each TAPOS Determination Date thereafter it will acquire such additional Statesman Class A Preferred Stock if any as may be necessary for it to maintain a Minimum Class A Investment.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Southern States Cooperative Inc), Financing Services and Contributed Capital Agreement (Southern States Capital Trust I), Revolving Credit Agreement (Southern States Capital Trust I)
Purchase of Stock. Upon the delivery to Statesman of the ----------------- first Receivables Certificate hereunder the Cooperative will purchase Statesman Class A Preferred Stock with such par value as will cause it to have a Minimum Class A Investment in Statesman Class A Preferred Stock and on each TAPOS Determination Date thereafter it will acquire such additional Statesman Class A Preferred Stock if any as may be necessary for it to maintain a Minimum Class A Investment.
Appears in 2 contracts
Samples: Financing Services and Contributed Capital Agreement (Southern States Capital Trust Ii), Financing Services and Contributed Capital Agreement (Southern States Cooperative Inc)
