Rights and Liabilities. The guarantee and right to require purchase will be directly en- forceable by Holder notwithstanding any fraud or misrepresentations by Lender or any unenforceability of the Loan Note Guar- xxxxx by Xxxxxx. Nothing contained herein shall constitute any waiver by FmHA or its successor agency under Public Law 103–354 of any rights it possesses against the Lender, and the Lender agrees that Xxxxxx will be liable and will promptly reimburse FmHA or its successor agency under Public Law 103– 354 for any payment made by FmHA or its successor agency under Public Law 103–354 to Holder which, if such Xxxxxx had held the guaranteed portion of the loan, FmHA or its successor agency under Public Law 103–354 would not be required to make. The Holder(s) upon written notice to the Lender may resell the unpaid balance of the guaranteed portion of the loan assigned hereunder. An endorse- ment may be added to the Form FmHA or its successor agency under Public Law 103–354 1980–70 to effectuate the transfer. Lender: Address: By llllllllllllllllllllll Title lllllllllllllllllllll Attest: lllllllllllllllllll (SEAL) Holder: Address: By llllllllllllllllllllll Title lllllllllllllllllllll Attest: lllllllllllllllllll (SEAL) United States of America Farmers Home Administration or its suc- cessor agency under Public Law 103–354 Address: lllllllllllllllllll By llllllllllllllllllllll Title lllllllllllllllllllll [54 FR 5, Jan. 3, 1989, as amended at 54 FR 14792, Apr. 13, 1989; 54 FR 26946, June 27, 1989] APPENDIX J TO SUBPART E OF PART 1980 [RESERVED] APPENDIX K TO SUBPART E OF PART 1980—REGULATIONS FOR LOAN GUAR- ANTEES FOR DISASTER ASSISTANCE FOR RURAL BUSINESS ENTERPRISES A. In general (1) Form FmHA or its successor agency under Public Law 103–354 1980–71, ‘‘Lender’s Agreement—Disaster Assistance for Rural Business Enterprise Guaranteed Loans,’’ will be used instead of Form FmHA or its suc- cessor agency under Public Law 103–354 449– 35, ‘‘Lender’s Agreement.’’ (2) Form FmHA or its successor agency under Public Law 103–354 1980–72, ‘‘Loan Note Guarantee—Disaster Assistance for Rural Business Enterprise Guaranteed Loans,’’ will be used instead of Form FmHA or its suc- cessor agency under Public Law 103–354 449– 34, ‘‘Loan Note Guarantee.’’ (3) Form FmHA or its successor agency under Public Law 103–354 1980–73, ‘‘Assign- ment Guarantee Agreement—Disaster As- sistance for Rural Business Enterprise Guar- anteed Loans,’’ will be used instead of Form FmHA or its successor agency under Public Law 103–354 449–36, ‘‘Assignment Guarantee Agreement.’’ B. Loan purposes (1) Commercial nurseries primarily en- gaged in the production of ornamental plants and trees and other nursery products such as bulbs, florists’ greens, flowers, shrubbery, flower and vegetable seeds, sod, and the growing of vegetables from seed to the trans- plant stage. (2) Forestry which includes establishments primarily engaged in the operation of timber tracts, tree farms, forest nurseries, and re- lated activities such as reforestation. (3) Loans for livestock and poultry proc- essing as identified under eligible purposes. (4) The growing of mushrooms or hydro- ponics. In addition, those business enterprises which qualify for assistance as agricultural production must be ineligible entities for FmHA or its successor agency under Public Law 103–354 farmer program loans because the entity exceeds the definition of a family- size farm as defined by FmHA or its suc- cessor agency under Public Law 103–354 In- struction 1941–A, § 1941.4(d). C. Ineligible loan purposes (1) Business expansion, acquisition of real estate, machinery, equipment, inventory, other goods or services, or for any other pur- pose unless related directly to the financial distress or loss that is the basis for the DARBE guaranteed loan. (2) Alleviating financial distress of entities engaged in agricultural production that are eligible for other FmHA or its successor agency under Public Law 103–354-type farm loan programs. D. Transactions hich ill not be guaranteed X. Xxxxx er equity requirements F. Filing and processing preapplications and applications (1) The causal relationship between a 1988 or 1989 natural disaster and the financial dis- tress or loss upon which the preapplication or application is based; and, (2) That the amount of the loan requested is not greater than the amount necessary for curing the problems caused by the natural disaster. Financial distress or loss shall be determined on the basis of a comparison of financial data for comparable periods of time and need not necessarily be based on data at the year’s end. Evidence submitted may in- clude, but is not limited to, the following: (a) Evidence of financial loss or distress (including loss or distress caused by business interruption) resulting from physical dam- age caused by natural disaster, or (b) Evidence that the financial loss and/or distress of the business is the direct or indi- rect result of loss of sales, business interrup- tion, loss of markets, shortage of raw mate- rials, or decline in patronage or customers caused by a nautral disaster. It must be shown that business operations were dam- aged as a result of such natural disaster. (3) Evidence of compliance with Sodbuster and Swampbuster requirements as ref- erenced in paragraph K below. G. Loan guarantee limit. The total principal amount of DARBE guaranteed loans to any one borrower cannot exceed $10,000,000. The maximum loss covered by Form FmHA or its successor agency under Public Law 103–354 1980–72, ‘‘Loan Note Guarantee DARBE,’’ issued on any one borrower can never exceed the percentage of guarantee multiplied by the unpaid principal and accrued interest on the loan as evidenced by the note(s) or by as- sumption agreement(s), and protective ad- vances, or $2,500,000, whichever is the lesser amount.
Appears in 3 contracts
Samples: Loan Note Guarantee Agreement, Loan Note Guarantee Agreement, Loan Note Guarantee Agreement
Rights and Liabilities. The guarantee and right to require purchase will be directly en- forceable by Holder notwithstanding any fraud or misrepresentations by Lender or any unenforceability of the Loan Note Guar- xxxxx by Xxxxxx. Nothing contained herein shall constitute any waiver by FmHA or its successor agency under Public Law 103–354 of any rights it possesses against the Lender, and the Lender agrees that Xxxxxx will be liable and will promptly reimburse FmHA or its successor agency under Public Law 103– 354 for any payment made by FmHA or its successor agency under Public Law 103–354 to Holder which, if such Xxxxxx Lender had held the guaranteed portion of the loan, FmHA or its successor agency under Public Law 103–354 would not be required to make. The Holder(s) upon written notice to the Lender may resell the unpaid balance of the guaranteed portion of the loan assigned hereunder. An endorse- ment may be added to the Form FmHA or its successor agency under Public Law 103–354 1980–70 to effectuate the transfer. Lender: Address: By llllllllllllllllllllll Title lllllllllllllllllllll Attest: lllllllllllllllllll (SEAL) Holder: Address: By llllllllllllllllllllll Title lllllllllllllllllllll Attest: lllllllllllllllllll (SEAL) United States of America Farmers Home Administration or its suc- cessor agency under Public Law 103–354 Address: lllllllllllllllllll By llllllllllllllllllllll Title lllllllllllllllllllll [54 FR 5, Jan. 3, 1989, as amended at 54 FR 14792, Apr. 13, 1989; 54 FR 26946, June 27, 1989] APPENDIX Appendix J TO SUBPART to Subpart E OF PART of Part 1980 [RESERVEDReserved] APPENDIX Appendix K TO SUBPART to Subpart E OF PART of Part 1980—REGULATIONS FOR LOAN GUAR- ANTEES FOR DISASTER ASSISTANCE FOR RURAL BUSINESS ENTERPRISESRegulations for Loan Guar- antees for Disaster Assistance For Rural Business Enterprises
A. In general
(1) Form FmHA or its successor agency under Public Law 103–354 1980–71, ‘‘Lender’s Agreement—Disaster Assistance for Rural Business Enterprise Guaranteed Loans,’’ will be used instead of Form FmHA or its suc- cessor agency under Public Law 103–354 449– 35, ‘‘Lender’s Agreement.’’
(2) Form FmHA or its successor agency under Public Law 103–354 1980–72, ‘‘Loan Note Guarantee—Disaster Assistance for Rural Business Enterprise Guaranteed Loans,’’ will be used instead of Form FmHA or its suc- cessor agency under Public Law 103–354 449– 34, ‘‘Loan Note Guarantee.’’
(3) Form FmHA or its successor agency under Public Law 103–354 1980–73, ‘‘Assign- ment Guarantee Agreement—Disaster As- sistance for Rural Business Enterprise Guar- anteed Loans,’’ will be used instead of Form FmHA or its successor agency under Public Law 103–354 449–36, ‘‘Assignment Guarantee Agreement.’’
B. Loan purposes
(1) Commercial nurseries primarily en- gaged in the production of ornamental plants and trees and other nursery products such as bulbs, florists’ greens, flowers, shrubbery, flower and vegetable seeds, sod, and the growing of vegetables from seed to the trans- plant stage.
(2) Forestry which includes establishments primarily engaged in the operation of timber tracts, tree farms, forest nurseries, and re- lated activities such as reforestation.
(3) Loans for livestock and poultry proc- essing as identified under eligible purposes.
(4) The growing of mushrooms or hydro- ponics. In addition, those business enterprises which qualify for assistance as agricultural production must be ineligible entities for FmHA or its successor agency under Public Law 103–354 farmer program loans because the entity exceeds the definition of a family- size farm as defined by FmHA or its suc- cessor agency under Public Law 103–354 In- struction 1941–A, § 1941.4(d).
C. Ineligible loan purposes
(1) Business expansion, acquisition of real estate, machinery, equipment, inventory, other goods or services, or for any other pur- pose unless related directly to the financial distress or loss that is the basis for the DARBE guaranteed loan.
(2) Alleviating financial distress of entities engaged in agricultural production that are eligible for other FmHA or its successor agency under Public Law 103–354-type farm loan programs.
D. Transactions hich ill which will not be guaranteed
X. Xxxxx er E. Borrower equity requirements
F. Filing and processing preapplications and applications
(1) The causal relationship between a 1988 or 1989 natural disaster and the financial dis- tress or loss upon which the preapplication or application is based; and,
(2) That the amount of the loan requested is not greater than the amount necessary for curing the problems caused by the natural disaster. Financial distress or loss shall be determined on the basis of a comparison of financial data for comparable periods of time and need not necessarily be based on data at the year’s end. Evidence submitted may in- clude, but is not limited to, the following:
(a) Evidence of financial loss or distress (including loss or distress caused by business interruption) resulting from physical dam- age caused by natural disaster, or
(b) Evidence that the financial loss and/or distress of the business is the direct or indi- rect result of loss of sales, business interrup- tion, loss of markets, shortage of raw mate- rials, or decline in patronage or customers caused by a nautral disaster. It must be shown that business operations were dam- aged as a result of such natural disaster.
(3) Evidence of compliance with Sodbuster and Swampbuster requirements as ref- erenced in paragraph K below.
G. Loan guarantee limit. The total principal amount of DARBE guaranteed loans to any one borrower cannot exceed $10,000,000. The maximum loss covered by Form FmHA or its successor agency under Public Law 103–354 1980–72, ‘‘Loan Note Guarantee DARBE,’’ issued on any one borrower can never exceed the percentage of guarantee multiplied by the unpaid principal and accrued interest on the loan as evidenced by the note(s) or by as- sumption agreement(s), and protective ad- vances, or $2,500,000, whichever is the lesser amount.
Appears in 2 contracts
Rights and Liabilities. The guarantee and right to require purchase will be directly en- forceable by Holder notwithstanding any fraud or misrepresentations by Lender or any unenforceability of the Loan Note Guar- xxxxx by Xxxxxx. Nothing contained herein shall constitute any waiver by FmHA or its successor agency under Public Law 103–354 of any rights it possesses against the Lender, and the Lender agrees that Xxxxxx will be liable and will promptly reimburse FmHA or its successor agency under Public Law 103– 354 for any payment made by FmHA or its successor agency under Public Law 103–354 to Holder which, if such Xxxxxx Lender had held the guaranteed portion of the loan, FmHA or its successor agency under Public Law 103–354 would not be required to make. The Holder(s) upon written notice to the Lender may resell the unpaid balance of the guaranteed portion of the loan assigned hereunder. An endorse- ment may be added to the Form FmHA or its successor agency under Public Law 103–354 1980–70 to effectuate the transfer. Lender: Address: By llllllllllllllllllllll Title lllllllllllllllllllll Attest: lllllllllllllllllll (SEAL) Holder: Address: By llllllllllllllllllllll Title lllllllllllllllllllll Attest: lllllllllllllllllll (SEAL) United States of America Farmers Home Administration or its suc- cessor agency under Public Law 103–354 Address: lllllllllllllllllll By llllllllllllllllllllll Title lllllllllllllllllllll [54 FR 5, Jan. 3, 1989, as amended at 54 FR 14792, Apr. 13, 1989; 54 FR 26946, June 27, 1989] APPENDIX Appendix J TO SUBPART to Subpart E OF PART of Part 1980 [RESERVEDReserved] APPENDIX Appendix K TO SUBPART to Subpart E OF PART of Part 1980—REGULATIONS FOR LOAN GUAR- ANTEES FOR DISASTER ASSISTANCE FOR RURAL BUSINESS ENTERPRISESRegulations for Loan Guar- antees for Disaster Assistance For Rural Business Enterprises
A. In general
(1) Form FmHA or its successor agency under Public Law 103–354 1980–71, ‘‘Lender’s Agreement—Disaster Assistance for Rural Business Enterprise Guaranteed Loans,’’ will be used instead of Form FmHA or its suc- cessor agency under Public Law 103–354 449– 35, ‘‘Lender’s Agreement.’’
(2) Form FmHA or its successor agency under Public Law 103–354 1980–72, ‘‘Loan Note Guarantee—Disaster Assistance for Rural Business Enterprise Guaranteed Loans,’’ will be used instead of Form FmHA or its suc- cessor agency under Public Law 103–354 449– 34, ‘‘Loan Note Guarantee.’’
(3) Form FmHA or its successor agency under Public Law 103–354 1980–73, ‘‘Assign- ment Guarantee Agreement—Disaster As- sistance for Rural Business Enterprise Guar- anteed Loans,’’ will be used instead of Form FmHA or its successor agency under Public Law 103–354 449–36, ‘‘Assignment Guarantee Agreement.’’
B. Loan purposes
(1) Commercial nurseries primarily en- gaged in the production of ornamental plants and trees and other nursery products such as bulbs, florists’ greens, flowers, shrubbery, flower and vegetable seeds, sod, and the growing of vegetables from seed to the trans- plant stage.
(2) Forestry which includes establishments primarily engaged in the operation of timber tracts, tree farms, forest nurseries, and re- lated activities such as reforestation.
(3) Loans for livestock and poultry proc- essing as identified under eligible purposes.
(4) The growing of mushrooms or hydro- ponics. In addition, those business enterprises which qualify for assistance as agricultural production must be ineligible entities for FmHA or its successor agency under Public Law 103–354 farmer program loans because the entity exceeds the definition of a family- size farm as defined by FmHA or its suc- cessor agency under Public Law 103–354 In- struction 1941–A, § 1941.4(d).
C. Ineligible loan purposes
(1) Business expansion, acquisition of real estate, machinery, equipment, inventory, other goods or services, or for any other pur- pose unless related directly to the financial distress or loss that is the basis for the DARBE guaranteed loan.
(2) Alleviating financial distress of entities engaged in agricultural production that are eligible for other FmHA or its successor agency under Public Law 103–354-type farm loan programs.
D. Transactions hich ill not be guaranteed
X. Xxxxx er equity requirements
F. Filing and processing preapplications and applications
(1) The causal relationship between a 1988 or 1989 natural disaster and the financial dis- tress or loss upon which the preapplication or application is based; and,
(2) That the amount of the loan requested is not greater than the amount necessary for curing the problems caused by the natural disaster. Financial distress or loss shall be determined on the basis of a comparison of financial data for comparable periods of time and need not necessarily be based on data at the year’s end. Evidence submitted may in- clude, but is not limited to, the following:
(a) Evidence of financial loss or distress (including loss or distress caused by business interruption) resulting from physical dam- age caused by natural disaster, or
(b) Evidence that the financial loss and/or distress of the business is the direct or indi- rect result of loss of sales, business interrup- tion, loss of markets, shortage of raw mate- rials, or decline in patronage or customers caused by a nautral disaster. It must be shown that business operations were dam- aged as a result of such natural disaster.
(3) Evidence of compliance with Sodbuster and Swampbuster requirements as ref- erenced in paragraph K below.
G. Loan guarantee limit. The total principal amount of DARBE guaranteed loans to any one borrower cannot exceed $10,000,000. The maximum loss covered by Form FmHA or its successor agency under Public Law 103–354 1980–72, ‘‘Loan Note Guarantee DARBE,’’ issued on any one borrower can never exceed the percentage of guarantee multiplied by the unpaid principal and accrued interest on the loan as evidenced by the note(s) or by as- sumption agreement(s), and protective ad- vances, or $2,500,000, whichever is the lesser amount.will
Appears in 1 contract
Samples: Loan Note Guarantee Agreement
Rights and Liabilities. The guarantee and right to require purchase will be directly en- forceable by Holder notwithstanding any fraud or misrepresentations by Lender or any unenforceability of the Loan Note Guar- xxxxx by Xxxxxx. Nothing contained herein shall constitute any waiver by FmHA or its successor agency under Public Law 103–354 of any rights it possesses against the Lender, and the Lender agrees that Xxxxxx will be liable and will promptly reimburse FmHA or its successor agency under Public Law 103– 354 for any payment made by FmHA or its successor agency under Public Law 103–354 to Holder which, if such Xxxxxx had held the guaranteed portion of the loan, FmHA or its successor agency under Public Law 103–354 would not be required to make. The Holder(s) upon written notice to the Lender may resell the unpaid balance of the guaranteed portion of the loan assigned hereunder. An endorse- ment may be added to the Form FmHA or its successor agency under Public Law 103–354 1980–70 to effectuate the transfer. Lender: Address: By llllllllllllllllllllll Title lllllllllllllllllllll Attest: lllllllllllllllllll (SEAL) Holder: Address: By llllllllllllllllllllll Title lllllllllllllllllllll Attest: lllllllllllllllllll (SEAL) United States of America Farmers Home Administration or its suc- cessor agency under Public Law 103–354 Address: lllllllllllllllllll By llllllllllllllllllllll Title lllllllllllllllllllll [54 FR 5, Jan. 3, 1989, as amended at 54 FR 14792, Apr. 13, 1989; 54 FR 26946, June 27, 1989] APPENDIX J TO SUBPART E OF PART 1980 [RESERVED] APPENDIX K TO SUBPART E OF PART 1980—REGULATIONS FOR LOAN GUAR- ANTEES FOR DISASTER ASSISTANCE FOR RURAL BUSINESS ENTERPRISES
A. In general
(1) Form FmHA or its successor agency under Public Law 103–354 1980–71, ‘‘Lender’s Agreement—Disaster Assistance for Rural Business Enterprise Guaranteed Loans,’’ will be used instead of Form FmHA or its suc- cessor agency under Public Law 103–354 449– 35, ‘‘Lender’s Agreement.’’
(2) Form FmHA or its successor agency under Public Law 103–354 1980–72, ‘‘Loan Note Guarantee—Disaster Assistance for Rural Business Enterprise Guaranteed Loans,’’ will be used instead of Form FmHA or its suc- cessor agency under Public Law 103–354 449– 34, ‘‘Loan Note Guarantee.’’
(3) Form FmHA or its successor agency under Public Law 103–354 1980–73, ‘‘Assign- ment Guarantee Agreement—Disaster As- sistance for Rural Business Enterprise Guar- anteed Loans,’’ will be used instead of Form FmHA or its successor agency under Public Law 103–354 449–36, ‘‘Assignment Guarantee Agreement.’’
B. Loan purposes
(1) Commercial nurseries primarily en- gaged in the production of ornamental plants and trees and other nursery products such as bulbs, florists’ greens, flowers, shrubbery, flower and vegetable seeds, sod, and the growing of vegetables from seed to the trans- plant stage.
(2) Forestry which includes establishments primarily engaged in the operation of timber tracts, tree farms, forest nurseries, and re- lated activities such as reforestation.
(3) Loans for livestock and poultry proc- essing as identified under eligible purposes.
(4) The growing of mushrooms or hydro- ponics. In addition, those business enterprises which qualify for assistance as agricultural production must be ineligible entities for FmHA or its successor agency under Public Law 103–354 farmer program loans because the entity exceeds the definition of a family- size farm as defined by FmHA or its suc- cessor agency under Public Law 103–354 In- struction 1941–A, § 1941.4(d).
C. Ineligible loan purposes
(1) Business expansion, acquisition of real estate, machinery, equipment, inventory, other goods or services, or for any other pur- pose unless related directly to the financial distress or loss that is the basis for the DARBE guaranteed loan.
(2) Alleviating financial distress of entities engaged in agricultural production that are eligible for other FmHA or its successor agency under Public Law 103–354-type farm loan programs.
D. Transactions hich ill not be guaranteed
X. Xxxxx er equity requirements
F. Filing and processing preapplications and applications
(1) The causal relationship between a 1988 or 1989 natural disaster and the financial dis- tress or loss upon which the preapplication or application is based; and,
(2) That the amount of the loan requested is not greater than the amount necessary for curing the problems caused by the natural disaster. Financial distress or loss shall be determined on the basis of a comparison of financial data for comparable periods of time and need not necessarily be based on data at the year’s end. Evidence submitted may in- clude, but is not limited to, the following:
(a) Evidence of financial loss or distress (including loss or distress caused by business interruption) resulting from physical dam- age caused by natural disaster, or
(b) Evidence that the financial loss and/or distress of the business is the direct or indi- rect result of loss of sales, business interrup- tion, loss of markets, shortage of raw mate- rials, or decline in patronage or customers caused by a nautral disaster. It must be shown that business operations were dam- aged as a result of such natural disaster.
(3) Evidence of compliance with Sodbuster and Swampbuster requirements as ref- erenced in paragraph K below.
G. Loan guarantee limit. The total principal amount of DARBE guaranteed loans to any one borrower cannot exceed $10,000,000. The maximum loss covered by Form FmHA or its successor agency under Public Law 103–354 1980–72, ‘‘Loan Note Guarantee DARBE,’’ issued on any one borrower can never exceed the percentage of guarantee multiplied by the unpaid principal and accrued interest on the loan as evidenced by the note(s) or by as- sumption agreement(s), and protective ad- vances, or $2,500,000, whichever is the lesser amount.will
Appears in 1 contract
Samples: Loan Note Guarantee Agreement
