CoBank Equity Interests definition

CoBank Equity Interests means investments in non-voting participation certificates of CoBank acquired by the Borrower in connection with its Loans hereunder from CoBank.
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CoBank Equity Interests shall have the meaning set forth in Article 8.
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CoBank Equity Interests shall have the meaning set forth in Article 8 hereof.
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Examples of CoBank Equity Interests in a sentence

  • Borrower shall have: (a) completed the loan application form provided by CoBank; and (b) purchased such CoBank Equity Interests as CoBank may require pursuant to Article 8 hereof.

  • Borrower does not now own any stock or other voting or equity interest, directly or indirectly, in any Person other than the CoBank Equity Interests.

  • Borrower acknowledges and agrees that any patronage, or similar, payments to which Borrower is entitled on account its ownership of CoBank Equity Interests will not be based on any portion of its Syndication Share in which CoBank has at any time granted a participation interest.

  • Borrower agrees to purchase such equity interests in CoBank ("CoBank Equity Interests") as CoBank may from time to time require in accordance with its bylaws and capital plan as applicable to cooperative borrowers generally.

  • In connection with the foregoing, Borrower hereby acknowledges receipt, prior to the execution of this Credit Agreement, of CoBank's bylaws, a written description of the terms and conditions under which the CoBank Equity Interests are issued, CoBank's Loan-Based Capital Plan, CoBank's most recent annual report, and if more recent than CoBank's latest annual report, its latest quarterly report.

  • In connection with the foregoing, Borrower hereby acknowledges receipt, prior to the execution of this Agreement, of CoBank's bylaws, a written description of the terms and conditions under which the CoBank Equity Interests are issued, CoBank's Loan-Based Capital Plan, CoBank's most recent annual report, and if more recent than CoBank's latest annual report, its latest quarterly report.

  • Upon the occurrence and during the continuance of an Event of Default or Potential Default, all amounts paid to Agent shall be applied, as Agent in its sole discretion shall determine, to fees, the purchase of CoBank Equity Interests, interest or principal indebtedness under the Notes, or to any other Bank Debt.

  • Upon the occurrence and during the continuance of an Event of Default or Potential Default, Borrower hereby agrees that all amounts paid to Agent, including prepayments, shall be applied, as Agent in its sole discretion shall determine, to fees, the purchase of CoBank Equity Interests, interest or principal indebtedness under the Notes (in such order of maturity as Agent shall select), or to any other Bank Debt.

  • Upon the occurrence and during the continuance of an Event of Default or Potential Default, all amounts received by CoBank shall be applied, as CoBank in its sole discretion shall determine (upon notification to Borrower), to fees, the purchase of CoBank Equity Interests, interest or principal indebtedness under the Notes, or to any other Bank Debt.

  • Borrower acknowledges receipt of a copy of (i) CoBank’s most recent annual report, and if more recent, CoBank’s latest quarterly report, (ii) CoBank’s Notice to Prospective Stockholders and (iii) CoBank’s Bylaws and Capital Plan, which describe the nature of all of Borrower’s stock and other equities in CoBank acquired in connection with its patronage loan from CoBank (the "CoBank Equity Interests") as well as capitalization requirements, and agrees to be bound by the terms thereof.


More Definitions of CoBank Equity Interests

CoBank Equity Interests means Investments in voting stock of CoBank, ACB acquired by the Borrower pursuant to 12 U.S.C. §2130 (2003) in connection with the Loans by CoBank, ACB hereunder.
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CoBank Equity Interests means the equity interests in CoBank that CoBank may from time to time require Company to purchase in accordance with CoBank's bylaws and capital plans applicable to cooperative borrowers generally and pursuant to a written description of the terms and conditions under which such CoBank equity interests are issued which has been provided to DIP Agent prior to the Closing Date.
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CoBank Equity Interests has the meaning set forth in Section 5.12(a).
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CoBank Equity Interests shall have the meaning set forth in Article 8 hereof. Code: shall have the meaning set forth in Section 10.11.
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Related to CoBank Equity Interests

  • Equity Interests means Capital Stock and all warrants, options or other rights to acquire Capital Stock (but excluding any debt security that is convertible into, or exchangeable for, Capital Stock).

  • Permitted Equity Interests means common stock of the Borrower that after its issuance is not subject to any agreement between the holder of such common stock and the Borrower where the Borrower is required to purchase, redeem, retire, acquire, cancel or terminate any such common stock.

  • Excluded Equity Interests means, collectively: (i) any Equity Interests in any Subsidiary with respect to which the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) are validly prohibited by Requirements of Law; (ii) any Equity Interests in any Subsidiary with respect to which the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) require the consent, approval or waiver of any Governmental Authority or other third party and such consent, approval or waiver has not been obtained by Borrower following Borrower’s commercially reasonable efforts to obtain the same; (iii) any Equity Interests in any Subsidiary that is a non-Wholly-Owned Subsidiary that the grant to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of a security interest in and Lien upon, and the pledge to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, of, such Equity Interests, to secure the Obligations (and any guaranty thereof) are validly prohibited by, or would give any third party (other than Borrower or an Affiliate of Borrower) the right to terminate its obligations under, the Operating Documents or the joint venture agreement or shareholder agreement with respect to, or any other contract with such third party relating to such non-Wholly-Owned Subsidiary, including any contract evidencing Indebtedness of such non-Wholly-Owned Subsidiary (other than customary non-assignment provisions which are ineffective under Article 9 of the Code or other Requirements of Law), but only, in each case, to the extent, and for so long as such Operating Document, joint venture agreement, shareholder agreement or other contract is in effect; (iv) any Equity Interests in any other Subsidiary with respect to which, Borrower and the Collateral Agent reasonably determine by mutual agreement that the cost (including Tax costs) of granting the Collateral Agent, for the benefit of Lenders and the other Secured Parties, a security interest in and Lien upon, and pledging to the Collateral Agent, for the benefit of Lenders and the other Secured Parties, such Equity Interests, to secure the Obligations (and any guaranty thereof) are excessive, relative to the value to be afforded to the Secured Parties thereby.

  • Voting Equity Interests means, with respect to any Person, Equity Interests issued by such Person the holders of which are ordinarily, in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even though the right so to vote has been suspended by the happening of such a contingency.

  • Qualified Equity Interests means any Equity Interests that are not Disqualified Equity Interests.

  • Equity Interest means any and all shares, interests, participations or other equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person which is not a corporation, and any and all warrants, options or other rights to purchase any of the foregoing.

  • Disqualified Equity Interests means any Equity Interests that, by their terms (or by the terms of any security or other Equity Interest into which they are convertible or for which they are exchangeable) or upon the happening of any event or condition, (a) mature or are mandatorily redeemable (other than solely for Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), (b) are redeemable at the option of the holder thereof (other than solely for Qualified Equity Interests) (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments), in whole or in part, (c) provide for the scheduled payment of dividends in cash (unless any such dividend may be made in Qualified Equity Interests at the election of the Company) or (d) are or become convertible into or exchangeable for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 91 days after the Maturity Date; provided that if such Equity Interests are issued pursuant to a plan for the benefit of the Company or its Subsidiaries or by any such plan to employees of the Company or its Subsidiaries, such Equity Interests shall not constitute Disqualified Equity Interests solely because they may be required to be repurchased by the Company or its Subsidiaries in order to satisfy applicable statutory or regulatory obligations.

  • Capital Stock means, for any entity, any and all shares, interests, rights to purchase, warrants, options, participations or other equivalents of or interests in (however designated) stock issued by that entity.

  • Pledged Interests shall have the meaning ascribed to such term in Section 4(j).