The Association’s Loan Clause Samples

The Association’s Loan. The Member acknowledges that the Association will be obtaining loans from its lender (the “Association’s Lender”) which are guaranteed by the Government of Alberta (the “Alberta Government”) pursuant to the Act, to purchase each Lot of Livestock and that the Association will incur: (a) Liability for the principal amount of each such loan and interest thereon (the “Lender Loan”); and (b) Livestock insurance, and administrative costs levied or incurred (which may include fees assessed by the Association’s Lender), with respect to each Lot of Livestock to the Member (the “Association’s Supply Costs”). The Association’s Supply Costs and the Lender Loan are herein collectively referred to as the “Association’s Purchase Costs”.