922 loans - An Overview
922 loans - An Overview
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To your extent any portion of these Stipulations is decided to become unenforceable by a court of competent jurisdiction, these part will be modified exclusively to your extent required to lead to such portion to become enforceable, and these Stipulations, as modified, will keep on being in complete power and result. This is the full arrangement in between you and us referring to the subject matter herein.
The Secretary in building these loans shall, insofar as is possible, get hold of assurance that the telephone company to generally be furnished or improved thereby is going to be created accessible to the widest simple variety of rural users. When it is decided through the Secretary to be required in an effort to furnish or enhance telephone services in rural parts, this kind of loans may be manufactured for the advance, growth, development, acquisition, and operation of telephone lines, services, or systems with no regard for their geographical location. The Secretary is more approved and empowered to help make loans for the purpose of refinancing remarkable indebtedness of folks furnishing telephone support in rural areas, which includes indebtedness of recipients on One more telecommunications financial loan created less than this chapter. Loans beneath this portion shall not be created Except if the Secretary finds and certifies that in his judgment the safety therefor in all fairness sufficient and these kinds of bank loan will likely be repaid inside the time agreed and that no duplication of lines, services, or devices, furnishing reasonably enough companies will consequence therefrom.
Such loans shall be on this sort of stipulations associated with the expenditure with the moneys loaned and the security therefor since the Secretary shall figure out and will be made payable in full or in part out in the cash flow, except that no mortgage for the development, Procedure, or enlargement of any creating plant shall be manufactured Except the consent from the Point out authority acquiring jurisdiction during the premises is to start with obtained.
An application submitted by an eligible entity underneath paragraph (1) shall contain documentation adequate to reveal the availability of funds to satisfy the need of subsection (e).
A borrower might not workout the option underneath paragraph (1) in the situation of a personal loan or bank loan advance, or portion thereof, if the overall volume of this sort of loans for which such alternative will be exercised exceeds 50 % of the remarkable principal balance of your loans created to such borrower and certain less than area 936 of the title.
(A) eligibility requirements to ensure that any bank loan prepayment action necessary to be performed below this subsection are going to be directed to People cooperative borrowers in greatest want of the advantages related to prepayment, as based on the Secretary; and
In the situation of your refinancing of a loan of a borrower pursuant to this section as well as the inclusion of the penalty within the exceptional principal equilibrium with the refinanced mortgage pursuant to subsection (b)(three)—
(i) a borrower that has pay as you go a loan, either in advance of or after Oct 21, 1992, at a reduction amount as furnished by paragraph (three), shall not be qualified, besides on the discretion in the Secretary, to apply for or receive immediate or insured loans underneath this chapter over the one hundred twenty-month period beginning around the day with the prepayment; and
(ii) allocate amounts while in the reserve to each Point out for every fiscal yr for loans and loan ensures to eligible entities from the Condition.
Other than as offered in get more info clause (ii), subparagraph (A)(ii) shall not utilize to an incumbent support service provider while in the percentage of a proposed provider territory in which the company is upgrading broadband service to satisfy the minimum satisfactory volume of broadband support founded underneath subsection (e) for the existing territory on the incumbent company supplier.
The Secretary might utilize the money appropriated for a grant underneath this subchapter for the price (as described by portion 661a of title 2) of providing guidance below paragraph (two).
The proceeds of aid provided under this segment could possibly be accustomed to perform a undertaking in the proposed provider territory provided that, as on the date the applying for aid less than this segment is submitted, There exists not adequate Center mile infrastructure available to aid broadband company for suitable rural communities that could be furnished entry to the middle mile infrastructure.
" for "programs; to generate, or trigger to be designed, reports, investigations, and reviews regarding the problem and development on the electrification of and also the furnishing of suitable telephone company in rural regions in the various States and Territories; and to publish and disseminate facts with respect thereto."
If the middle mile infrastructure would not deliver satisfactory stability on account of lengthy-expression leasing arrangements, the Secretary shall have to have substitute security in these kinds of variety and substance as are suitable to the Secretary.