CoBank Equity Interests definition
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 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.
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.
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.
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.
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.
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.
Borrower shall have purchased such CoBank Equity Interests as CoBank may require pursuant to Article 8 hereof.
In connection with the foregoing, Borrower hereby acknowledges receipt, prior to the execution of this Term 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.