Agricultural Lien Statute definition

Agricultural Lien Statute means, collectively, each statute, law or regulation (or other mandatory provision of state or local law) that could either (a) create or give rise to an agricultural lien in or against any portion of the products purchased, stored or otherwise handled by any Person from whom any Entity Loan Party purchases inventory (or by any other Person from whom such first Person purchases or otherwise receives goods in the ordinary course of business), or (b) create a Lien against, or impose a trust upon, some portion of any Entity Loan Party’s inventory (and/or the accounts derived therefrom) for the benefit of unpaid agricultural producers, any broker acting on behalf of an agricultural producer, any cooperative whose members consist of agricultural producers or any other Person that purchases goods from an agricultural producer in the ordinary course of business.

Agricultural Lien Statute means, collectively, each statute, law or regulation (or other mandatory provision of state or local law) that could either (a) create or give rise to an “agricultural lien” (as defined in the UCC) in or against any portion of the products purchased, stored or otherwise handled by any Person from whom any Borrower purchases Inventory (or by any other Person from whom such first Person purchases or otherwise receives goods in the ordinary course of business), or (b) create a Lien against, or impose a trust upon, some portion of either Borrower's inventory (and/or the accounts receivable derived therefrom) for the benefit of unpaid agricultural producers, any broker acting on behalf of an agricultural producer, any cooperative whose members consist of agricultural producers or any other Person that purchases goods from an agricultural producer in the ordinary course of business. Without limiting the generality of the foregoing, the term “Agricultural Lien Statute” shall specifically include each of the following statutes: Article 20 of the New York Agriculture and Markets Law and Section 55631, et seq. of Food and Agricultural Code of California.

Examples of Agricultural Lien Statute in a sentence

• The Explanatory Statement containing the information necessary to enable the shareholders to make an informed decision on whether to vote for or against the resolution to approve the buy back by the Company of its own shares, as required by the Listing Rules, is set out in a separate letter from the Company.

• The areas of collaboration include the development and delivery of supervisory capacity-building training courses.• We are recognized as an observer in theInternational Financial Reporting Standard17 (IFRS 17) Transition Resource Group of the International Accounting Standards Board (IASB).

• Each Borrower shall comply with all applicable laws (including, without limitation, PACA, the Food Security Act, any applicable Agricultural Lien Statute, and any applicable statute, regulation or ordinance governing or otherwise relating to (a) ecology, human health or the environment, or (b) the production, manufacture, storage, sale, distribution and/or other handling of beer or other intoxicating beverages).