The 922 loans Diaries
The 922 loans Diaries
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associated with prepayment of loans ended up established out like a note underneath segment 936 of this title and were repealed by
(bb) the common per capita money with the residents acquiring electrical company through the applicant is under the typical for every capita revenue from the inhabitants from the Condition in which the applicant delivers services, or perhaps the median home profits in the households obtaining electrical services from the applicant is a lot less than the median family money on the households during the State.
The option furnished below paragraph (1) shall not be offered in the situation of any financial loan or mortgage advance, or part thereof, Except if a written ask for to exercising this kind of possibility is sent for the Secretary not later than one calendar year after the efficient date of polices issued to carry out the Rural Electrification Personal loan Restructuring Act of 1993.
(one) offers suitable broadband support to, inside the proposed eligible support place described in the appliance submitted from the eligible entity—
S.C. 901 et seq.], Which this kind of rural electric powered and phone units ought to be encouraged and assisted to produce their assets and ability to accomplish the fiscal strength needed to enable them to satisfy their credit needs from their unique money organizations and other resources at sensible fees and conditions according to the personal loan applicant's capacity to shell out and achievement of your Act's aims.
The Secretary shall not create necessities for bandwidth or velocity that have the impact of precluding the use of evolving systems appropriate for rural spots.
The Secretary is authorized and empowered to increase enough time of payment of curiosity or principal of any loans produced by the Secretary pursuant to this chapter, other than that, with respect to any personal loan manufactured below section 904 or 922 of the title, the payment of interest or principal shall not be prolonged over 5 years soon after this sort of payment shall have become because of.
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Certain loans; accommodation and subordination of liens; curiosity costs; assignability of confirmed loans and similar ensures.
Extensions below this section shall not be made Except the Secretary initially finds and certifies that, soon after providing effect into the extension, in his judgment the safety for all loans for the borrower produced or confirmed beneath this chapter is reasonably satisfactory and that every one these types of loans will be repaid throughout the time agreed.
” in next sentence and “Which no duplication” for “, nor shall this kind of bank loan be built in almost any Point out which now has or might hereafter Have a very Condition regulatory system having authority to regulate telephone services and to need certificates of ease and necessity for the applicant Except if these certification from these agency is 1st acquired. In the Condition during which there isn't a these agency or regulatory entire body legally licensed to challenge these certificates on the applicant, no bank loan shall be created underneath this segment unless the Secretary shall determine (and established forth his motives therefor in composing) that no duplication” in final sentence.
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The Secretary could make or assurance loans under this subchapter and subchapter I for cybersecurity and grid security improvements.
(five) give details to electric and phone borrowers less than this chapter in regards to the eligibility of these kinds of borrowers to submit an application for monetary guidance, loans, or grants from other Federal organizations and non-Federal sources to permit these kinds of borrowers to develop their rural enhancement attempts; and