§1786.206. Refinancing note.
7 C.F.R. § 1786.206
RUS will issue a replacement guaranty for refinancing notes delivered to FFB to replace and substitute for existing FFB notes in connection with any refinancing by FFB pursuant to section 306C of the RE Act.
Generally, refinancing notes will, to the extent practicable, consolidate all of a borrower's existing FFB notes which have been guaranteed by RUS and containing terms and conditions as FFB may require and RUS and the borrower may accept.
Notwithstanding any contrary provision contained in this subpart, RUS will give preference to processing refinancings that utilize a generic form of refinancing note in the event that FFB prescribes one.
Notes, amendments, and revision history
Amendments
[58 FR 51008, Sep. 30, 1993; 58 FR 58729, Nov. 3, 1993]
Authority
Authority: 7 U.S.C. 901 et seq.; Pub. L. 103-354, 108 Stat. 3178 (7 U.S.C. 6941 et seq. ); sec. 1201(b) of subtitle B of title 1 of Pub. L. 103-66, 107 Stat. 312.
Source
Source: 58 FR 51008, Sept. 30, 1993, unless otherwise noted.
Authority
Authority: 7 U.S.C. 901-950b; Title I, subtitle B, Pub. L. 99-509; Pub. L. 101-624, 104 Stat. 4051; Pub. L. 103-354, 108 Stat. 3178, (7 U.S.C. 6941 et seq. ), unless otherwise noted.
Source
Source: 55 FR 1145, Jan. 11, 1990, unless otherwise noted.
Amendments
[58 FR 51008, Sep. 30, 1993; 58 FR 58729, Nov. 3, 1993]