Borrowing and Securing Indebtedness Sample Clauses

Borrowing and Securing Indebtedness. Notwithstanding anything herein to the contrary, the Board of Directors, without authorization by the Members, shall have full power and authority to borrow money from the United States of America or any agency or instrumentality thereof, or any other financing source, and in connection with such borrowing to authorize the making and issuance of notes or other evidence of indebtedness and, to secure the payment thereof, to authorize the execution and delivery of mortgages, security agreements, or other security instruments upon, or otherwise pledge and encumber, any or all of the property and assets of the Cooperative, to include all revenues and income of the Cooperative, all upon such terms and conditions as the Board of Directors shall determine in its discretion are necessary and appropriate to secure any indebtedness of the Cooperative.