Advance Indebtedness definition
Examples of Advance Indebtedness in a sentence
If the Overpayment occurs at the fault of the Producer, the Producer shall pay the entire amount of the outstanding Advance Indebtedness within thirty (30) days’ notice to do so.
In the event the Producer receives other insurance proceeds, these proceeds shall also be remitted to the Administrator to the extent required by the Administrator to pay the outstanding Advance Indebtedness.
In the event the Producer is in Default, and the Minister makes payment of the Advance Indebtedness in accordance with APP, the Minister shall be subrogated to all of the rights of the Administrator against the Producer, and against any other persons who have guaranteed the Producer’s obligations to the Administrator provided that the Producer shall remain liable to the Administrator for any portion of the Advance Indebtedness which is not paid by the Minister.
In the event a Producer is in Default of the Producer’s obligations under this Agreement, the Producer shall pay the full amount of all legal costs incurred by the Administrator in recovering or attempting to recover the Advance Indebtedness hereunder and in protecting and enforcing the security granted hereunder on a solicitor and client full indemnity basis.
In the event a Producer is in Default of the Producer’s obligations under this Agreement, the Producer shall pay the full amount of all legal costs incurred by the Administrator in recovering, or attempting to recover the Advance Indebtedness hereunder and in protecting and enforcing the security granted hereunder on a solicitor and client full indemnity basis.
These payments shall be made from the sale proceeds of the Eligible Agricultural Products if sold, or, if the Eligible Agricultural Products are disposed of, the Producer shall make payment of the fair market value of the disposed Eligible Agricultural Products, until the Advance Indebtedness is paid in full.
In the event the Producer receives any AgriStability payments, Product Insurance Payments which have been provided as security for an Advance in relation to an Agricultural Product, the Producer shall immediately remit these payments to the Administrator, to the extent required by the Administrator to pay the Advance Indebtedness.
All partners of a Producer which is a partnerships are jointly and severally liable for all Advance Indebtedness under this Agreement even if all such partners have not signed this Agreement.