The Definitive Guide to 922 loans
The Definitive Guide to 922 loans
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(one) rescind an insured telephone bank loan manufactured under this chapter with no consent with the borrower, Except if the entire uses for which telephone loans have already been manufactured for the borrower less than this chapter have already been achieved with resources presented under this chapter;
Loans created from or insured through the fund shall be for a similar reasons and on the same stipulations as are provided for loans in subchapters I and II of this chapter other than as or else furnished in sections 933 to 938 inclusive.
(eight) payment of the purchase rate and any fees and bills incurred in connection with the purchase, acquisition, or Procedure of assets pursuant to area 907 of the title.
Notwithstanding almost every other provision of the chapter, no prepayment premium shall be imposed or collected with respect to that percentage of a loan that is definitely pay as you go by a borrower in accordance with subparagraph (B).
These types of things might be paid out in reference to confirmed loans after or in connection with the acquisition of this sort of loans or protection thereof immediately after default, to the extent established for being required to guard the desire of The federal government, or in reference to another exercise licensed in this chapter;
(V) that supply swift and expanded deployment of fixed and mobile broadband on cropland and ranchland in a company territory to be used in several apps of precision agriculture; and
The Secretary is authorized to create insured loans less than this subchapter and within the fascination prices hereinafter supplied to the complete extent in the belongings obtainable in the fund, matter only to limitations concerning quantities authorized for loans and developments as could be from time to time imposed from the Congress of the United States for loans to be made in Anybody calendar year, which quantities shall remain out there right up until expended: Supplied, That the Congress while in the once-a-year appropriation Act might also authorize the transfer of any extra cash in the fund for deposit to the Treasury as miscellaneous receipts: And provided more, That any these loans and advances shall not be A part of the totals of the price range of The usa Governing administration and shall be exempt from any basic limitation imposed by statute on expenditures and Internet lending (spending budget outlays) of The usa.
(3) Establish and quantify the availability of broadband assistance and ongoing broadband deployment in rural areas, which include strategies to do the following:
For the purpose of figuring out the eligibility of a distribution borrower not in default over the repayment of the bank loan manufactured or certain beneath this chapter for the bank loan, loan warranty, or lien accommodation beneath this subchapter, a default by a borrower from which the distribution borrower purchases wholesale electric power shall not—
Except as supplied in clause (ii), subparagraph (A)(ii) shall not use to an incumbent support company from the part of a proposed service territory where the company is upgrading broadband services to satisfy the minimum satisfactory volume of broadband support recognized below subsection (e) for the present territory of the incumbent support company.
” in second sentence and “and that no duplication” for “, nor shall this sort of bank loan be designed in almost any Point out which now has or may hereafter Possess a Condition regulatory overall body acquiring authority to control phone assistance 922 loans also to have to have certificates of benefit and requirement to the applicant unless this kind of certification from such company is initially received. In a very Condition in which there is not any this sort of company or regulatory system lawfully approved to concern this sort of certificates towards the applicant, no loan shall be built underneath this area Unless of course the Secretary shall figure out (and established forth his motives therefor in producing) that no duplication” in past sentence.
struck out from introductory textual content "meets both of the subsequent circumstances" just after "borrower which"; constrained par. (one) to the phone borrowers, substituting provision for an average subscriber density of 3 or much less per mile at the end of The latest calendar calendar year ending at the very least 6 months before approval on the loan for prior provision for an average shopper or subscriber density of two or much less per mile; substituted in par. (2) provision, limited to electric borrowers, respecting acquiring a mean consumer density of two or less for each mile or a median altered plant earnings ratio of more than nine.
The Secretary may perhaps make or assure loans below this subchapter and subchapter I for cybersecurity and grid safety enhancements.
Together with another cash or authorities if not produced obtainable underneath this chapter, the Secretary may well make electric powered loans below this subchapter for electric generation from renewable Power sources for resale to rural and nonrural citizens.