PACA definition
Examples of PACA in a sentence
Neither the purchases by CIL of bananas nor the purchases by CIL of plantains give rise to the formation of a trust under PACA.
Neither the bananas nor the plantains, the sales of which in each case give rise to Accounts, nor the Accounts, are subject to a trust under PACA.
Pay, not later than the date required for payment thereof, any outstanding invoices for perishable agricultural commodities purchased from any vendor except for a Borrower or a Subsidiary of a Borrower, provided that, if any such invoice requires payment upon delivery, payment shall be made on the date of delivery, and further provided that such payment may be made on a later date with respect to any vendor that has waived in writing its rights under PACA with respect to the applicable invoice.
No Inventory has been produced in violation of the FLSA or PACA or any applicable state counterpart statute.
All terms used in this Section 7.26 and defined in PACA shall have the meanings ascribed to such terms therein.