PACA Trust definition

PACA Trust means the statutory trust authorized by Section 499e(c) of PACA.
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PACA Trust means the trust established pursuant to PACA on any Loan Party's Inventory consisting of perishable agricultural commodities and/or any other assets of such Loan Party, in favor of sellers of perishable agricultural commodities to such Loan Party.
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PACA Trust means the trust created pursuant to Section 499e(c) of PACA.
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Examples of PACA Trust in a sentence

  • The Debtors believe that the PACA Trust Assets are excluded from the Debtors' estates, and the Debtors therefore have not included such amounts in their responses to Statement Question 21.

  • Under PACA, eligible suppliers and their agents may be the beneficiaries of a floating, non-segregated, statutory trust in the buyer's entire inventory of food or other derivatives of perishable agricultural commodities, the products derived therefrom, and the proceeds of any sale of such inventory or products (collectively, the "PACA Trust Assets").

  • The Working Capital Borrowers have previously delivered to the Administrative Agent copies of all notifications received by any Loan Party, whether pursuant to the UCC, the FSA, PACA, State Agricultural Laws or otherwise, and whether sent by a seller of any "farm products" (as defined in the FSA), a lender to such seller, the Secretary of State of any State or any other Person, of any FSA Lien or State Agricultural Lien or the imposition of a PACA Trust.

  • As referred to in this Agreement, "PACA Trust" shall mean the statutory trust authorized by Section 499e(c) of PACA.

  • Each Loan Party will comply with all payment instructions imposed on such Loan Party in any notification received by such Loan Party, whether pursuant to the UCC, the FSA, PACA, State Agricultural Law, or otherwise, and whether sent by a seller of farm products, a lender to such seller, the Secretary of State of any state or any other Person, of any FSA Lien or State Agricultural Lien or the imposition of a PACA Trust.

  • The administrator of TDI’s bankruptcy estate thus went about “identifying, recovering, and liquidating the PACA trust assets of [TDI] and preserving those funds for the benefit of all PACA trust creditors.” Stipulation for Order Establishing PACA Trust Claims Procedure and Surcharge for Administrative Expenses at 11, In re Tanimura Distrib., Inc., No. 2:08-bk- 22644-TD, (Bankr.

  • On June 2, 1997, Idahoan and Advantage filed a Joint Status Report and Motion for an Order for the Distribution of PACA Trust Proceeds ("Joint Motion") identifying the following universe of qualified PACA trust creditors: Idahoan $ 116,684.26 CHR 36,004.80 Murphy 4,300.00 Alsum 10,708.00 Powerhouse 4,868.00 $ 172,565.06 App.

  • For all the reasons set forth above, Plaintiffs’ Joint Motion for Entry of an Order Determining Validity and Extent of PACA Trust Claims (Doc.

  • Finally, the P.K. Produce Defendants argue that Plaintiff B&D Produce, Inc.’s PACA claim is invalid because it failed to include any supporting invoices in its PACA Trust Claim packet.

  • As the PACA Trust Assets were held in trust by the Debtors and were not property of the Debtors’ estates, the Debtors’ produce suppliers had priority ahead of all other secured and unsecured creditors of the Debtors’ estates as to those PACA Trust Assets.


More Definitions of PACA Trust

PACA Trust shall have the meaning given in Section 7.9(a).
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PACA Trust means the trust established pursuant to PACA on any Loan Party's Inventory consisting of perishable agricultural commodities and/or any other assets of such Loan Party, in favor of sellers of perishable agricultural commodities to such Loan Party. "Paid in Full" or "Payment in Full" means, (a) the indefeasible payment in full in cash of all outstanding Loans and LC Disbursements, together with accrued and unpaid interest thereon, (b) the termination, expiration, or cancellation and return of all outstanding Letters of Credit (or alternatively, with respect to each such Letter of Credit, the furnishing to the Administrative Agent of a cash deposit, or at the discretion of the Administrative Agent a backup standby letter of credit satisfactory to the Administrative Agent and the Issuing Bank, in an amount equal to 105% of the LC Exposure as of the date of such payment), (c) the indefeasible payment in full in cash of the accrued and unpaid fees, (d) the indefeasible payment in full in cash of all reimbursable expenses and other Secured Obligations (other than Unliquidated Obligations for which no claim has been made and other obligations expressly stated to survive such payment and termination of this Agreement), together with accrued and unpaid interest thereon, (e) the termination of all Commitments, and (f) the termination of the Swap Agreement Obligations and the Banking Services Obligations. "Parent" means, with respect to any Lender, any Person as to which such Lender is, directly or indirectly, a subsidiary. "Participant" has the meaning assigned to such term in Section 9.04(c). "Participant Register" has the meaning assigned to such term in Section 9.04(c).
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Related to PACA Trust

  • PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

  • Owner Trust means with respect to any Leased Aircraft, the trust created by the "Trust Agreement" referred to in the Leased Aircraft Indenture related thereto.

  • Titling Trust Agreement means the Amended and Restated Trust and Servicing Agreement, dated as of August 26, 1998, among NILT Trust, as the Grantor and the UTI Beneficiary, the Servicer, the Delaware Trustee, the Titling Trustee and the Trust Agent.

  • Sub-Trust has the meaning set forth in Section 3.01(b) of the Titling Trust Agreement.

  • Master Trust Agreement means the Second Amended and Restated Trust Agreement, dated as of May 8, 2019, between Verizon ABS II LLC, as depositor, and the Master Trust Owner Trustee, as amended, restated, supplemented or modified from time to time.

  • Class A Trust Has the meaning specified in the Intercreditor Agreement.

  • Academy Trust shall include any company in which the Academy Trust: • holds more than 50% of the shares; or • controls more than 50% of the voting rights attached to the shares; or • has the right to appoint one or more directors to the board of the company.

  • Class A Trust Agreement means the Basic Agreement, as supplemented by Trust Supplement No. 2015-1A thereto, dated as of the date hereof, governing the creation and administration of the American Airlines Pass Through Trust 2015-1A and the issuance of the Class A Certificates, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms.

  • Trust means the arrangement through which the property of one person is made over or bequeathed to a trustee to administer such property for the benefit of another person; and

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • Plan Trust means the trust governed by the Plan.

  • First trust means a trust over which an authorized fiduciary may exercise the decanting power.

  • Litigation Trust Agreement means the trust agreement dated as of the Plan Implementation Date, between SFC and the Litigation Trustee, establishing the Litigation Trust.

  • Vehicle Trust Agreement means that certain amended and restated trust agreement, dated as of September 27, 1996, as further amended as of May 25, 2000 and December 1, 2006 between BMW Manufacturing L.P., as grantor and initial beneficiary, and BNY Mellon Trust of Delaware, formerly known as The Bank of New York (Delaware), as trustee.

  • Titling Trust means GE TF Trust, a Delaware statutory trust.

  • the Academy Trust means the company intended to be regulated by these Articles and referred to in Article 2;

  • Class B Trust Agreement means the Basic Agreement, as supplemented by the Trust Supplement No. 2016-1B thereto, governing the creation and administration of the United Airlines Pass Through Trust 2016-1B and the issuance of the Class B Certificates, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms.

  • Pass Through Trust Agreement means each of the two separate Trust Supplements relating to the Pass Through Trusts, together in each case with the Basic Pass Through Trust Agreement, as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms.

  • Securitization Trust means a trust formed pursuant to a Securitization pursuant to which one or more of the Notes are held.

  • Blind Trust means an independently managed trust in which the employee-beneficiary has no management rights and in which the employee-beneficiary is not given notice of alterations in or other dispositions of the property subject to the trust.

  • the Eileen Trust means the charitable trust of that name established on 29th March 1993 out of funds provided by the Secretary of State for the benefit of persons eligible for payment in accordance with its provisions;

  • Master Trust means Citibank Credit Card Master Trust I.

  • Trust Agreements shall have the meanings ascribed to them in the introductory paragraph of the Authorized Participant Agreement.

  • Trust Agreement means the Amended and Restated Trust Agreement, dated as of the Closing Date, between the Seller and the Owner Trustee, as the same may be amended and supplemented from time to time.

  • SUBI Trust Agreement means the Vehicle Trust Agreement as supplemented by that certain supplement, dated as of April 16, 2014, among the parties to the Vehicle Trust Agreement, as amended or supplemented from time to time.

  • Basic Pass Through Trust Agreement means the Pass Through Trust Agreement, dated October 3, 2012, between Owner and Pass Through Trustee, but does not include any Trust Supplement.