Little Known Facts About 922 loans.
Little Known Facts About 922 loans.
Blog Article
(one) rescind an insured telephone mortgage built under this chapter without the consent from the borrower, Unless of course all of the needs for which phone loans are actually manufactured for the borrower under this chapter have already been accomplished with cash provided below this chapter;
When deciding populace density underneath this section, the Secretary shall prescribe a calculation system which—
In case the Secretary along with the Federal Financing Bank approve such an extension, then the duration of the present ensure shall even be viewed as extended.
The Secretary may well create a financial loan under this segment to an unexpected emergency interaction equipment provider to develop or enhance 911 access or other communications or systems explained in subsection (a) if the neighborhood govt which includes jurisdiction over the venture isn't allowed to accumulate the financial debt resulting in the mortgage.
Notwithstanding subsection (a), a immediate or insured loan may be prepaid by An electrical borrower with the lesser from the remarkable principal stability thanks thereon or the current benefit thereof discounted from your face worth at maturity at the speed set with the Secretary if the borrower can be an electrical organization which resulted from a merger or consolidation involving a borrower and an organization which, previous to October 1, 1987, prepaid its direct or insured loans pursuant to this portion. Prepayments by a borrower hereunder shall be created not later on than one year following the helpful date on the merger, consolidation, or other transaction.
To make certain that the Secretary has the sources important to adequately analyze the proposed guarantees, the Secretary may perhaps limit the number of ensures issued below this portion to 5 per year.
The borrower shall fork out the charge expected under this area at some time the existing promise is prolonged by making a payment in the amount of the expected fee.
, That for any period of 1 year from and right after October 28, 1949, purposes get more info for loans obtained through the Secretary from persons who on Oct 28, 1949, are engaged from the operation of present telephone service in rural areas shall be regarded as and acted on in advance of action is taken on any application received from another man or woman for any loan to finance the furnishing or enhancement of telephone assistance to substantially exactly the same subscribers." in next sentence and "and that no duplication" for ", nor shall these kinds of bank loan be made in any Point out which now has or could hereafter have a Condition regulatory body obtaining authority to regulate phone assistance and also to need certificates of benefit and necessity to the applicant Until this kind of certification from these types of agency is to start with obtained.
(3) the borrower certifies that any price savings from this sort of prepayment will be passed on to its shoppers or used to Enhance the money strength of the borrower in instances of economic hardship.
§911. Acceptance of expert services of Federal or State officers; application of civil support legislation; expenses for materials and equipment
Extensions under this part shall in no situation result in a remaining maturity larger than fifty five a long time from the time of initial disbursement and shall in no circumstance result in a remaining maturity bigger compared to handy lifetime of the plant.
(I) besides for the discretion of your Secretary, to apply for or acquire direct or insured loans explained in clause (i) throughout the 180-month period beginning around the date from the prepayment; or
(1) in assessing the feasibility of the phone mortgage being produced into a borrower for phone solutions, use—
When offering a grant underneath this subchapter, the Secretary, at the only real discretion with the Secretary, may perhaps make—