Default Rate shall mean: (|) in the case of principal, 4% per annum in excess of the rate(s)
that would atherwise be in effect an the leans under the Promissory Noles aad Supplements; and (2)
in the case of overdue interest, fees and other charges, 4% per annum in excess of the CaBank Base
Rate, as in effect from time to time.
Distribution shail mean the paymeat of any dividend or distribution of any kind to its
shareholders or other owners, whether in cash, assets, obligations or otherwise, and whether paid
directly or indirectly, such as by a reduction in or a rebate of rates or the purchase or redemption of
any equity or other securities or interests in the Company, or the purchase of any assets or services
for a price that exceeds the fair market vaiue thereof.
Dollars and the sign “S$” shai} mean lawful money of the United States of America.
Enforcement Action shall mean a formal judicial or admin:strative proceeding [led by any
govemmenia: authority to enforce any Law.
ERISA shal’ mean the Employee Retirement Income Security Act of 1974, as amended trom
time to time, and the regulations and published interpretations thereof.
ERISA Plans shall have the meaning set forth in Section 4.10 of the Agreement.
Event of Default shall mean any of the events specified in Article 8 of the Agreement and
any event specified in any Promissory Note and Supplement or other Loan Document as an Event of
Default,
Financial Statements sha. mean: {1} in the case of the initial Promissory “sxtefs) and
Supplement(s) to the Agrecment, the financial statements furnished to CoBank in connection with
the initial Promissery Note(s} and Supplement(s); and (2) in the case of each other Promissory Nate
and Supplement to the Agreement, the most recent annua! financial statements furnisned to CoBank
pursuant to Sections 5.06(4) of the Agreement
GAAP shal! mean generally accepted accounting principles in the United States.
Guarantor shail have the meaning set forth in Section 2.04(B) nereof
Guaranty shai} have the meaning set forth in Section 2.04(B) hereof
indemnitees shall have the meaning set Forth in Section 10.08 hereof.
Investments shall have the meaning set forth in Section 6 09 of the Agreement.
Laws shall mean al! laws, rules, regulations, codes, orders and the tike.
Lien shall mean any mortvage, deed of trust, pledge. security interest, hypothecation,
assignment. deposit arrangement, encumbrance, lien (statutory ar other), or preference, priority or
other security agreement or preferential arrangement, charge or encumbrance of any kind or nature
whatsoever (including, without limitation, any conditional sale or other ttle retention agreement),
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