Source: http://www.federalregister.com/Browse/Document/usa/na/fr/2005/9/23/05-19122
Timestamp: 2019-04-21 03:18:59
Document Index: 10919722

Matched Legal Cases: ['art 231', 'ART 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', '§ 231', 'art 231', '§ 231', '§ 231']

70 FR 184 pgs. 56102-56104 - Arab Republic of Egypt Loan Guarantees Issued Under the Emergency Wartime Supplemental Appropriations Act of 2003—Standard Terms and Conditions
Years > 2005 > September, 2005 > Friday, September 23, 2005
Type: RULEVolume: 70Number: 184Pages: 56102 - 56104
FR document: [FR Doc. 05-19122 Filed 9-22-05; 8:45 am]
22 CFR Part 231
Pursuant to the Emergency Wartime Supplemental Appropriations Act of 2003 (Pub. L. 108-11), the United States of America, acting through the U.S. Agency for International Development, may issue loan guarantees applicable to sums borrowed by the Arab Republic of Egypt (the "Borrower") from time to time between September 23, 2005 and September 30, 2005, not exceeding an aggregate total of $2 billion in principal amount. The loan guarantees shall insure the Borrower's repayment of 100% of principal and interest due under such loans. The full faith and credit of the United States of America is pledged for the full payment and performance of such guarantee obligations.
This rulemaking document is not subject to rulemaking under 5 U.S.C. 553 or to regulatory review under Executive Order 12866 because it involves a foreign affairs function of the United States. The provisions of the Paperwork Reduction Act (44 U.S.C. 3501 et seq. ) do not apply.
Foreign aid, Foreign relations, Loan programs-foreign relations.
PART 231-ARAB REPUBLIC OF EGYPT LOAN GUARANTEES ISSUED UNDER THE EMERGENCY WARTIME SUPPLEMENTAL APPROPRIATIONS ACT OF 2003, PUBLIC LAW 108-11-STANDARD TERMS AND CONDITIONS
Sec. 231.01 Purpose.231.02 Definitions.231.03 The Guarantee.231.04 Guarantee Eligibility.231.05 Non-impairment of the Guarantee.231.06 Transferability of Guarantee; Note Register.231.07 Fiscal Agent Obligations.231.08 Event of Default; Application for Compensation; Payment.231.09 No acceleration of Eligible Notes.231.10 Payment to USAID of excess amounts received by a Noteholder.231.11 Subrogation of USAID.231.12 Prosecution of claims.231.13 Change in agreements.231.14 Arbitration.231.15 Notice.231.16 Governing law.
Emergency Wartime Supplemental Appropriations Act, 2003, Pub. L. 108-11, chapter 5, title I, "Economic Support Fund", para. (2).
§ 231.01 Purpose.
The purpose of the regulations in this part is to prescribe the procedures and standard terms and conditions applicable to loan guarantees issued for the benefit of the Arab Republic of Egypt ("Borrower"), pursuant to the Emergency Wartime Supplemental Appropriations Act of 2003, Public Law 108-11. The loan guarantees will apply to sums borrowed from time to time between September 23, 2005 and September 30, 2005, not exceeding an aggregate total of two billion United States Dollars ($2,000,000,000) in principal amount. The loan guarantees shall insure the Borrower's repayment of 100% of principal and interest due under such loans. The full faith and credit of the United States of America is pledged for the full payment and performance of such guarantee obligations. The loan guarantees will be issued pursuant to a Loan Guarantee Commitment Agreement between the Borrower and the United States dated September 12, 2005.
§ 231.02 Definitions.
(b) Eligible Note(s) means [a] Note[s] meeting the eligibility criteria set out in § 231.04.
(k) Application for Compensation means an executed application in the form of Appendix A to this part which a Noteholder, or the Fiscal Agent on behalf of a Noteholder, files with USAID pursuant to § 231.08.
(m) Date of Application means the date on which an Application for Compensation is actually received by USAID pursuant to § 231.15.
§ 231.03 The Guarantee.
§ 231.04 Guarantee Eligibility.
§ 231.05 Non-impairment of the Guarantee.
§ 231.06 Transferability of Guarantee; Note Register.
§ 231.07 Fiscal Agent Obligations.
§ 231.08 Event of Default; Application for Compensation; Payment.
§ 231.09 No acceleration of Eligible Notes.
§ 231.10 Payment to USAID of excess amounts received by a Noteholder.
§ 231.11 Subrogation of USAID.
§ 231.12 Prosecution of claims.
§ 231.13 Change in agreements.
§ 231.14 Arbitration.
§ 231.15 Notice.
§ 231.16 Governing law.
Appendix A To Part 231-Application for Compensation
You are hereby advised that payment of $____ (consisting of $____ of principal, $____ of interest and $____ in Further Guaranteed Payments, as defined in § 231.02(f) of the Standard Terms and Conditions of the above-mentioned Guarantee) was due on ______, 20__, on $____ principal amount of Notes issued by the Arab Republic of Egypt (the "Borrower") held by the undersigned. Of such amount $____ was not received on such date and has not been received by the undersigned at the date hereof. In accordance with the terms and provisions of the above-mentioned Guarantee, the undersigned hereby applies, under § 231.08 of said Guarantee, for payment of $____, representing $____, the Principal Amount of the presently outstanding Note(s) of the Borrower held by the undersigned that was due and payable on ____ and that remains unpaid, and $____, the Interest Amount on such Note(s) that was due and payable by the Borrower on ____ and that remains unpaid, and $____ in Further Guaranteed Payments,1plus accrued and unpaid interest thereon from the date of default with respect to such payments to and including the date payment in full is made by you pursuant to said Guarantee, at the rate of __% per annum, being the rate for such interest accrual specified in such Note. Such payment is to be made at [state payment instructions of Noteholder].
1 In the event the Application for Compensation relates to Further Guaranteed Payments, such Application must also contain a statement of the nature and circumstances of the related loss.