Patronage definition

Patronage means business, transactions, or services done for or with the cooperative as defined by the cooperative.

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Patronage means business transactions between a limited cooperative association and a person which entitle the person to receive financial rights based on the value or quantity of business done between the association and the person.

Patronage means the selling or providing of goods, services, or facilities to, or the buying of goods, services, or facilities from members or other persons, or providing labor or services to or by a cooperative.

Examples of Patronage in a sentence

The Borrower shall not make, or permit any Subsidiaries of the Borrower to make, any payments to Members in respect of Patronage Capital Certificates unless (i) the TIER for the immediately preceding fiscal year for which financial statements have been delivered to the Banks pursuant to Section 5.03(b) equals or exceeds 1.05:1.00 and (ii) there exists (and would exist after giving effect to any such payment) no Default or Event of Default under this Agreement.
The Borrower shall not make, or permit any Subsidiaries of the Borrower to make, any payments to Members in respect of Patronage Capital Certificates unless (i) the TIER for the immediately preceding fiscal year for which financial statements have been delivered to the Administrative Agent pursuant to Section 5.03(b) equals or exceeds 1.05:1.00 and (ii) there exists (and would exist after giving effect to any such payment) no Default or Event of Default under this Agreement.
Patronage distributions in the event of a sale of a participation interest shall be governed by CoBank’s Bylaws and Capital Plan (as each may be amended from time to time).
Patronage refunds, if any, with respect to marketing operations will be paid only pursuant to marketing contracts with members and contract patrons providing for the payment of such refunds.
All amounts standing on the books of this Company as Patronage Notices shall carry the rights and obligations specified in this Section and Section 7.2(2) and no other or additional rights and obligations.

More Definitions of Patronage

Patronage means the use of services offered by the Producer Company to its Members by participation in its business activities;

Patronage means the volume or dollar value of business transacted with the cooperative.

Patronage means business done by a patron with a cooperative and, if the bylaws provide, labor performed for a cooperative by a patron.

Patronage means business transactions between a limited

Patronage means the amount of work performed as a member of a

Patronage means the amount of work performed as a member of an employee cooperative, measured in accor- dance with the articles of incorporation and bylaws.

Patronage means business transactions between a mutual benefit enterprise and a person which entitle the person to receive financial rights based on the value or quantity of business done between the enterprise and the person.