Common use of Sale Proceeds Required to be Paid by a Buyer Clause in Contracts

Sale Proceeds Required to be Paid by a Buyer. Where the Producer sells the Eligible Agricultural Product for which the Advance was made, to a buyer or buyers named by the Administrator, the Producer must authorize and direct each buyer to withhold from an amount they pay to the Producer from each Production Unit sold, an amount determined in accordance with a Sales Repayment Schedule specified in an agreement with the buyer which authorizes this amount to be deducted from the sale proceeds and paid to the Administrator, provided that the payments cannot be less than the minimum payment amounts stipulated in subclause 3.4(b) above, and that the payments must be made within the times specified in subclause 3.4(a) above. The buyer’s failure to make these payments shall not release the Producer from the Producer’s obligation to pay the Advance Indebtedness;

Sale Proceeds Required to be Paid by a Buyer. Where the Producer sells the Eligible Agricultural Product for which the Advance was made, to a buyer or buyers named by the Administrator, the Producer must authorize and direct each buyer to withhold from an amount they pay to the Producer from each Production Unit sold, an amount determined in accordance with a Sales Repayment Schedule specified in an agreement with the buyer which authorizes this amount to be deducted from the sale proceeds and paid to the Administrator, provided that the payments cannot be less than the minimum payment amounts stipulated in subclause 3.4(b) 3.4.2 above, and that the payments must be made within the times specified in subclause 3.4(a) 3.4.1 above. The buyer’s failure to make these payments shall not release the Producer from the Producer’s obligation to pay the Advance Indebtedness;

Sale Proceeds Required to be Paid by a Buyer. Where the Producer sells the Eligible Agricultural Product for which the Advance was made, to a buyer or buyers named by the Administrator, the Producer must authorize and direct each buyer to withhold from an amount they pay to the Producer from each Production Unit sold, an amount determined in accordance with a Sales Repayment Schedule specified in an agreement with the buyer which authorizes this amount to be deducted from the sale proceeds and paid to the Administrator, provided that the payments cannot be less than the minimum payment amounts stipulated in subclause clause 3.4(b) above, and that the payments must be made within the times specified in subclause 3.4(a) above. The buyer’s failure to make these payments shall not release the Producer from the Producer’s obligation to pay the Advance Indebtedness;