New Step by Step Map For 922 loans
New Step by Step Map For 922 loans
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(1) rescind an insured phone loan designed underneath this chapter with no consent of your borrower, Except if most of the uses for which phone loans have been created for the borrower below this chapter have already been achieved with funds provided under this chapter;
(B) one hundred pc of the amount of curiosity for one year within the superb principal stability of the bank loan or personal loan progress, or any portion of the bank loan or progress, staying refinanced, multiplied by the ratio that—
If the Secretary along with the Federal Financing Financial institution approve such an extension, then the duration of the existing guarantee shall even be regarded extended.
(aa) the quantity (if any) by which the discounted the borrower received by motive on the prepayment exceeds the discount the borrower would've acquired had the price cut been dependant on the cost of funds towards the Division with the Treasury at time of your prepayment; and
(iii) the normal price of by far the most subscribed tier of broadband company in a proposed support area;
inserted provisions relating to loans produced by Federal Financing Bank with regard to guarantees issued beneath this section, and substituted "an insured loan" for "a personal loan insured with the conventional amount".
Extensions under this section shall not be granted In the event the principal balance extended exceeds the appraised worth of the producing plant or transmission line referred to in subsection paragraph (2).
A distribution borrower not in default on the repayment of loans designed or insured less than this chapter shall be eligible for discounted prepayment as offered During this subsection. For the goal of determining eligibility for discounted prepayment below this subsection or eligibility for assistance under this chapter, a default by a borrower from which a distribution borrower buys wholesale power shall not be considered a default from the distribution borrower.
The discounted charge relevant for the prepayment below this subsection of the personal loan or financial loan advance shall be the then present-day price of resources to your Section from the Treasury for obligations of comparable maturity to the remaining time period on the loan.
The Secretary shall not think about a part of a provider territory explained in subsection (a) to generally be unserved if the broadband services supplier has more info created or started to build broadband services that satisfy the bare minimum satisfactory standard of assistance founded less than section 950bb(e) of the title, in that percentage of the assistance territory.
Not lower than three although not over five percent of software amount amounts readily available pursuant to quantities appropriated to carry out subchapter VI shall be set aside for use for—
A lender that gets a assurance issued less than this section on a bond or Be aware shall pay out a price to your Secretary.
Apart from as supplied in subparagraph (D), the quantity of any grant built below this part shall not exceed—
A borrower could decrease the stability of its cushion of credit account provided that the quantity received with the reduction is accustomed to make scheduled payments on loans created or guaranteed under this chapter.