Examples of BRM Program in a sentence
The Producer must provide a BRM Program Coverage Report demonstrating participation in an eligible BRM Program.
The Producer declares that the assignment of these BRM Program payments to the Administrator takes priority over any other security interest.
The Producer must notify the Administrator within seven (7) calendar days if further requests for an assignment on the Eligible BRM Program proceeds are made, granted or registered.
The Producer further agrees that the Producer has obtained all signed priority agreements such that the Administrator’s interest in the BRM Program payments shall rank prior to the interest of any other creditor or security holder.
The Producer acknowledges that all BRM Program repayments will be paid automatically to the Administrator until payment in full (as defined in 5.3) is received.
By assigning to the Administrator amounts payable under a listed BRM Program or by paying directly to the Administrator any amount received by the Producer under an eligible BRM Program before the end of the applicable Production Period.
The Administrator will reimburse any amount received from a BRM Program in excess of the outstanding Advance to the Producer within seven (7) calendar days of receipt of the payment.
For Producers using an Eligible BRM Program as security where a Seeded Acreage Report is not available, they must provide a signed declaration confirming the actual acres planted or other current production, as applicable, and consent to an inspection at the discretion of the Administrator.
The Producer agrees to assign to the Administrator amounts payable to the Producer under an eligible BRM Program as identified in the BRM assignment of this application for the repayment of the amount of the eligible Advance plus interest costs provided for in this Repayment Agreement.
The Producer shall respect the terms of the BRM Program used as security and shall ensure that any payments from the BRM Program related to the Agricultural Product are forwarded to the Administrator up to the extent of the Eligible Advance, interest and costs/fee.