Common use of Repayment with Proceeds from Another Commodity Clause in Contracts

Repayment with Proceeds from Another Commodity. The Producer may use products from the sale of one Eligible Agricultural Product on which an Advance has been issued to the Producer, with proceeds from a different Eligible Agricultural Product on which an Advance has been issued to the Producer, and where both advances were made through the same Administrator in the same Program Year, subject to the following conditions: (a) Proof of sale for the Eligible Agricultural Product which was used to make the payment must be provided in accordance with this Agreement; (b) If the Producer does not specify how the payment is to be applied, the Administrator may apply the payment to the Eligible Agricultural Product with the earliest ending Production Period, subject to this Agreement and in particular clause 3.2; The RWPS Interest referred to in subclause 3.4.7 does not apply, to the extent an Advance is paid with the proceeds of another Eligible Agricultural Product as long as the Agricultural Product is listed on an Advanced Worksheet provided with the Producer’s Application.

Repayment with Proceeds from Another Commodity. The Producer may use products from the sale of one Eligible Agricultural Product on which an Advance has been issued to the Producer, with proceeds from a different Eligible Agricultural Product on which an Advance has been issued to the Producer, and where both advances were made through the same Administrator in the same Program Year, subject to the following conditions: (ai) Proof of sale for the Eligible Agricultural Product which was used to make the payment must be provided in accordance with this Agreement; (bii) If the Producer does not specify how the payment is to be applied, the Administrator may apply the payment to the Eligible Agricultural Product with the earliest ending Production Period, subject to this Agreement and in particular clause 3.2; The RWPS Interest referred to in subclause 3.4.7 3.4(g) does not apply, to the extent an Advance is paid with the proceeds of another Eligible Agricultural Product as long as the Agricultural Product is listed on an Advanced Worksheet provided with the Producer’s Application.

Repayment with Proceeds from Another Commodity. The Producer may use products from the sale of one Eligible Agricultural Product on which an Advance has been issued to the Producer, with proceeds from a different Eligible Agricultural Product on which an Advance has been issued to the Producer, and where both advances were made through the same Administrator in the same Program Year, subject to the following conditions: (ai) Proof of sale for the Eligible Agricultural Product which was used to make the payment must be provided in accordance with this Agreement; (bii) If the Producer does not specify how the payment is to be applied, the Administrator may apply the payment to the Eligible Agricultural Product with the earliest ending Production Period, subject to this Agreement and in particular clause subclause 3.2; The RWPS Interest penalty referred to in subclause 3.4.7 3.4(g) does not apply, to the extent an Advance is paid with the proceeds of another Eligible Agricultural Product as long as the Agricultural Product is listed on an Advanced Worksheet provided with the Producer’s Application.