Beet Payment definition
Beet Payment means the sum of (i) payments by the Company to SRSC for sugarbeets that would have been incurred if the Company made such payments at the times and pursuant to the terms and conditions as set forth in the Agreement attached as Exhibit D-7 to the Formation Agreement, as such Exhibit D-7 may be amended from time to time, and (ii) effective beginning for the crop year which commences October 1, 2000, incentive payments made by the Company to SRSC to harvest early sugarbeets, provided, however, that the aggregate amount of such incentive payments are equal to or less than the reduced transportation costs resulting from the local processing of such early sugarbeets, and provided further, however, that within 45 days following the completion of each such crop year, the Company shall have delivered to each Member a certificate, certified by a responsible financial officer of the Company, detailing the aggregate amount of such incentive payments made by the Company during the applicable crop year along with a calculation showing the amount of reduced transportation costs resulting from the delivery of such early sugarbeets."