PURCHASE OF WHOLESALE ACCOUNTS. Statesman shall from time to time, upon the terms and subject to the conditions contained in this Agreement, purchase Wholesale Accounts from the Cooperative, provided that Statesman has determined in its sole and absolute discretion that such Wholesale Accounts are acceptable to it and as to which approval has not been withdrawn by Statesman as provided below. All such purchases shall be made without recourse to the Cooperative except as provided in Sections 4.09 and 4.11 and except so far as Statesman shall have the right to make charges to the Wholesale Reserve Account as provided in Section 4.05.
Appears in 3 contracts
Samples: Revolving Credit Agreement (Southern States Capital Trust I), Revolving Credit Agreement (Southern States Cooperative Inc), Financing Services and Contributed Capital Agreement (Southern States Capital Trust I)
PURCHASE OF WHOLESALE ACCOUNTS. Statesman shall from time ------------------------------ to time, upon the terms and subject to the conditions contained in this Agreement, purchase Wholesale Accounts from the Cooperative, provided that Statesman has determined in its sole and absolute discretion that such Wholesale Accounts are acceptable to it and as to which approval has not been withdrawn by Statesman as provided below. All such purchases shall be made without recourse to the Cooperative except as provided in Sections 4.09 and 4.11 and except so far as Statesman shall have the right to make charges to the Wholesale Reserve Account as provided in Section 4.05.
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)
