Agricultural Marketing Programs Act — A-3.7 10
12, and (iii) despite subparagraphs (i) and (ii), in the case of an agricultural product that is livestock, it is of marketable quality and maintained so as to remain of marketable quality until disposed of in accordance with the repayment agreement; and (i) the producer must meet any additional requirements prescribed by regulation. Sharing security (1.1) For the purpose of paragraph (1)(g), the producer’s eligibility is not affected by the administrator sharing the security referred to in section 12 with another creditor in accordance with the terms and conditions specified in the advance guarantee agreement. Eligible producers must make repayment agreements (2) An eligible producer must make a repayment agreement with the administrator under which the producer agrees (a) to repay the advance (i) by selling the agricultural product for which the advance is to be made to a buyer or buyers named by the administrator, and authorizing in writing each buyer to withhold from any amount they pay to the producer for each production unit an amount determined in accordance with the repayment schedule specified in the agreement, (ii) by selling, in accordance with the terms and conditions specified in the agreement, the agricultural product for which the advance is to be made and paying directly to the administrator, for each production unit, an amount determined in accordance with the repayment schedule specified in the agreement, (iii) by paying directly to the administrator any amount received under a program listed in the schedule in accordance with the terms and conditions specified in the agreement, (iv) by assigning to the administrator amounts payable to the producer under a program listed in the schedule in accordance with the terms and conditions specified in the agreement, (v) if the producer repays to the administrator an amount of the advance without proof that the agricultural product has been sold and that amount is greater than the amount prescribed by the regulations, by paying to the administrator, in accordance with the terms and conditions specified in the repayment agreement, the amount of interest owed under that agreement on the difference obtained by subtracting that prescribed amount from that repaid amount, (vi) by any other means prescribed by the regulations, or (vii) by paying the administrator using a combination of the means described in subparagraphs (i) to (vi); (a.1) if the repayment agreement is in respect of an agricultural product designated by the Minister in the advance guarantee agreement, or an agricultural product in a class of agricultural products that is so designated, to repay the amount of the advance with respect to that agricultural product, with or without proof that it has been sold, before the expiry of the production period for which the advance was made; (b) to ensure that (i) in the case of an agricultural product that is storable, (A) it is of marketable quality and will be stored so as to remain of marketable quality until disposed of in accordance with the repayment agreement, or (B) if it is in the course of being produced or is not yet produced, either the amount of the advance is covered by a program listed in the schedule and the amounts that may be received under that program are assignable or the amount of the advance is covered by the security referred to in section 12, (ii) in the case of an agricultural product that is not storable, (A) it is of marketable quality and will be maintained so as to remain of marketable quality until disposed of in accordance with the repayment agreement and either the amount of the advance is covered by a program listed in the schedule and the amounts that may be received under that program are assignable or the amount of the advance is covered by the security referred to in section 12, or (B) if it is in the course of being produced or is not yet produced, either the amount of the advance is covered by a program listed in the schedule and