Documentation:
Financial Covenants:_
Negative covenants:
Reporting Requirements:
Events of Default:
Expenses and
Indemnification:
Patronage:
3
documents will contain the following conditions precedent,
representations and warranties, covenants and events of default:
e Conditions Precedent. Satisfactory review and approval of all
documents related to the acquisition of the assets and the
formation of the Borrower; execution and delivery of all related
documents; receipt of such board resolutions, incumbency
certificates and other evidence as CoBank shall require that all
documents have been duly authorized, executed and delivered;
evidence of perfection and priority of lien; and opinions of
counsel.
e Representations and Warranties: Due organization, good
standing and qualification; authorization to borrow; compliance
with law; financial condition; title to properties; liens; no material
adverse change; litigation; payment of taxes; governmental
regulations; disclosure; licenses; trademarks; and patents.
As provided in the current Master Loan Agreement (MLA) and any
ammendments thereto, CoBank's commitment is subject to the negotiation,
execution, and delivery of documentation satisfactory to CoBank and its
counsel in all material respects.
As provided in the current MLA subject to ammendment as needed.
As provided in the current MLA subject to ammendment as needed.
As provided in the current MLA subject to ammendment as needed.
As provided in the current MLA subject to ammendment as needed.
The Borrower will indemnify CoBank against all losses, liabilities,
claims, damages, or expenses relative to the Credit Facility or the use of
loan proceeds. All reasonable costs and expenses incurred by CoBank in
connection with this transaction including, without limitation, all legal
fees and expenses for CoBank’s legal counsel, shall be paid by the
Borrowers.
At the sole discretion of CoBank’s Board of Directors, each year eligible
customers may qualify under CoBank’s patronage plan for patronage
certificates and distributions. CoBank reserves the right to sell, assign
and/or participate in credit facilities discussed hereunder on a non-
patronage basis.
