922 loans No Further a Mystery
922 loans No Further a Mystery
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(1) rescind an insured phone bank loan made less than this chapter with no consent of the borrower, Except each of the functions for which phone loans are already made to the borrower below this chapter are already achieved with cash presented beneath this chapter;
The level of an allocation made to your State for just a fiscal 12 months below subparagraph (A) shall bear the identical ratio to the amount of allocations made for all States with the fiscal year as—
Entities that acquire assistance to construct, make improvements to, or acquire Center mile infrastructure less than this section shall be suitable to apply for additional funds underneath this subchapter to deliver for retail broadband service to end consumers.
Notwithstanding any other provision of the chapter, no prepayment premium shall be imposed or gathered with regard to that percentage of a personal loan that's pay as you go by a borrower in accordance with subparagraph (B).
The expression "considerably underserved believe in area" implies a Local community in "have confidence in land" (as outlined in area 3765 of title 38) with respect to which the Secretary decides features a substantial have to have for the benefits of an suitable program.
(A) a backed loan, which shall bear a lowered interest charge at such a rate since the Secretary determines appropriate to satisfy the aims of This system; or
The Secretary is approved and empowered to extend time of payment of interest or principal of any loans created by the Secretary pursuant to this chapter, besides that, with regard to any mortgage manufactured less than segment 904 or 922 of this title, the payment of desire or principal shall not be extended greater than 5 years immediately after these types of payment shall have become because of.
(ii) includes only those spots wherein the applicant is able to meet up with the service prerequisites less than this portion, as determined by the Secretary.
(i) The common range of subscribers per mile of line inside the support area in the applicant is just not much more than 4.
(II) Should the applicant with the loan makes an election pursuant to subparagraph (D) to incorporate within the mortgage agreement the correct in the applicant to prepay the personal loan, a fee equal to the amount by which—
The quantity of the once-a-year fee paid for the assure of the bond or Be aware underneath this part shall be equivalent to 30 basis factors of the amount of the read more unpaid principal in the bond or Notice assured under this segment.
The borrower shall certify in creating whether the financing will likely be tax exempt and shall adjust to these kinds of other terms and conditions since the Secretary may establish which are realistic and important to execute this subsection.
Pub. L. 115–334, § 6211, substituted “furnishing phone provider in rural areas, together with indebtedness of recipients on A different telecommunications mortgage built below this chapter.” for “furnishing phone support in rural parts: Furnished, That these kinds of refinancing shall be based on the Secretary to be needed so as to furnish and enhance phone company in rural areas: And furnished additional, That these types of refinancing shall represent not greater than forty for every centum of any personal loan made below this subchapter.”
Specified rural improvement investments by experienced telephone borrowers not treated as dividends or distributions.