Patronage. The Commitment is eligible for patronage under the plan and in accordance with the provisions of FCW’s bylaws and its practices and procedures related to patronage distribution and as set forth in Section 27.
Patronage. The Company acknowledges that Lender’s Bylaws and Capital Plan (as each may be amended from time to time) shall govern (x) the rights and obligations of the parties with respect to the Lender Equities and any patronage refunds or other distributions made on account thereof or on account of the Company’s patronage with Lender, (y) the Company’s eligibility for patronage distributions from Lender (in the form of Lender Equities and cash) and (z) patronage distributions, if any, in the event of a sale by Lender of a participation interest in the Loans and other financial accommodations made hereunder. Lender reserves the right to assign or sell participations on a non-patronage basis in all or any part of its commitments or outstanding Loans and other financial accommodations made hereunder.
Patronage. You hereby consent, in regard to your patronage with LC, whether occurring in the year in which you execute this consent or in subsequent fiscal years; to including in your gross income, as defined by the Internal Revenue Code, in the tax year in which you receive it, the full stated dollar amount of any patronage dividend that is paid to you by LC or its successors, in the form of money, qualified written notices of allocation or qualified written per-unit retain allocation certificates, or other property, unless any such patronage dividends are attributable to personal, living, or family items, or is properly taken into account as an adjustment to basis of property. You acknowledge that any above mentioned qualified allocation paid to you, whether by written notice, or per- unit retain certificate, is accompanied by cash in the amount of at least 20% of the full stated value of such allocation. You acknowledge that this consent shall be revocable by you at any time, in writing, as allowed under the Internal Revenue Code. *CONTINUED ON PAGE 2* CREDIT AGREEMENT *PAGE 2-CONTINUED*
Patronage. Only the portion of a Loan held by Lender for its own account and not subject to participation shall be eligible for patronage or equity distributions of any kind in accordance with the bylaws, practices and procedures of ACA. To the extent a participation in any portion of a Loan is sold at any time, such portion so participated may not be eligible for patronage distributions of ACA or its successors or assigns.
Patronage. Patronage from Seller shall be based upon all revenue received from Tri-State pursuant to this Agreement and the Eastern Interconnection Wholesale Power Contract.
Patronage. Notwithstanding anything to the contrary expressed herein, no representation or warranty of Seller or Shareholder with respect to the Business shall be deemed or construed to constitute any representation or warranty by such parties as to the level of business or patronage of customers that Purchaser will or may enjoy following the Closing from Purchaser's operation of the Acquired Assets or from the conduct by Purchaser following the Closing of a business like or similar to the Business. (signatures appear on the following page)