§231.11. Subrogation of USAID.
22 C.F.R. § 231.11
In the event of payment by USAID to a Noteholder under this Guarantee, USAID shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.
Notes, amendments, and revision history
Authority
Authority: Emergency Wartime Supplemental Appropriations Act, 2003, Pub. L. 108-11, chapter 5, title I, “Economic Support Fund”, para. (2).
Source
Source: 70 FR 56102, Sept. 23, 2005, unless otherwise noted.