§237.11. Subrogation of USAID.
22 C.F.R. § 237.11
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: Title III of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (Div. J, Pub. L. 113-235); and the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014 (Pub. L. 113-95).
Source
Source: 80 FR 22642, Apr. 23, 2015, unless otherwise noted.