Common use of PURCHASE BY XXXXXX Clause in Contracts

PURCHASE BY XXXXXX. The guaranteed portion purchased by the Holder will always be a portion of the loan which is guaranteed. The Holder will hereby succeed to all rights of the Lender under the Loan Note Guar- xxxxx—Disaster Assistance for Rural Busi- ness Enterprises to the extent of the as- signed portion of the loan. The Lender, how- ever, will remain bound by all the obliga- tions under the Loan Note Guarantee—Dis- aster Assistance for Rural Business Enter- prises and the program regulations found in the applicable subpart of 7 CFR part 1980 now in effect and future FmHA or its successor agency under Public Law 103–354 program regulations not inconsistent with the provi- sions hereof.