Detailed Notes on 922 loans

Detailed Notes on 922 loans

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(ii) The typical residential income per kilowatt-hour marketed from the applicant just isn't a lot less than one hundred twenty % of the typical residential profits for every kilowatt-hour offered by all utilities while in the Condition wherein the applicant supplies support.

Loans created from or insured in the fund shall be for a similar functions and on exactly the same stipulations as are presented for loans in subchapters I and II of the chapter apart from as if not furnished in sections 933 to 938 inclusive.

(4) any outreach things to do carried out from the Secretary to inspire entities in rural regions with out broadband company to post apps below this chapter;

(aa) the amount (if any) by which the lower price the borrower obtained by cause of your prepayment exceeds the price cut the borrower would have acquired had the discount been based upon the price of funds on the Department from the Treasury at time from the prepayment; and

Notwithstanding subsection (a), a direct or insured personal loan could be prepaid by an electric borrower within the lesser with the remarkable principal equilibrium owing thereon or even the existing benefit thereof discounted with the deal with value at maturity at the rate set through the Secretary if the borrower is surely an electrical Firm which resulted from the merger or consolidation between a borrower and an organization which, just before October 1, 1987, prepaid its direct or insured loans pursuant to this segment. Prepayments by a borrower hereunder shall be produced not afterwards than one year once the efficient date of your merger, consolidation, or other transaction.

Any amounts inside the reserve founded for a Condition for your fiscal yr beneath subparagraph (B) that aren't obligated by April one on the fiscal year shall be accessible to the Secretary to help make loans and bank loan assures under this area to qualified entities in almost any here Point out, as determined by the Secretary.

(i) the volume of quarterly payment dates among the day from the refinancing or prepayment plus the maturity day for the personal loan advance; bears to

Any agreement of insurance policies or ensure executed by the Secretary underneath this subchapter shall be an obligation supported by the total religion and credit of The usa and incontestable except for fraud or misrepresentation of which the holder had true expertise at the time it grew to become a holder.

inserted "and for your furnishing and improving of electrical assistance to persons in rural places, together with by assisting electric borrowers to put into action desire facet administration, Power conservation systems, and on-grid and off-grid renewable energy techniques" just after "central station service".

Electrical power technology, transmission, and distribution amenities performance grants and loans in rural communities with exceptionally high Electrical power expenditures.

No borrower of cash beneath sections 904 or 922 of this title shall, with no approval in the Secretary, promote or eliminate its residence, rights, or franchises, obtained underneath the provisions of this chapter, until any loan received from the Rural Electrification Administration, including all desire and fees, shall have already been repaid.

The proceeds of support furnished less than this portion might be used to carry out a undertaking in the proposed assistance territory provided that, as on the date the application for help below this segment is submitted, There is certainly not suitable middle mile infrastructure accessible to aid broadband company for suitable rural communities that could be furnished access to the middle mile infrastructure.

(ii) broadband services is not supplied in any Element of the proposed service territory by three or more incumbent provider suppliers.

Remember to find a topic spot down below for the correct mailing address, and make sure to include the next info on any correspondence: