---
kind: "section"
citation: "7 C.F.R. § 4280.17"
title: "7"
number: "4280.17"
heading: "Additional REDL terms."
url: "https://uscodex.org/cfr/7/4280.17"
---

# §4280.17. Additional REDL terms.

- (a) The Intermediary is responsible for fully repaying the Zero-Interest Loan to RBS even if the Ultimate Recipient does not repay the Intermediary.
- (b) The Intermediary is responsible for remitting any partial or full payment to RBS at the time the Ultimate Recipient pays the Intermediary.
- (c) Unless deferred pursuant to [§ 4280.16(b)](/cfr/7/4280.16.md?p=b) of this subpart, loan payments to Rural Development under the REDL Program are due monthly.
- (d) If the Intermediary does not have an outstanding loan with RUS, the Intermediary must immediately provide, as security for any REDL loan it receives, a Rural Development-approved irrevocable letter of credit that remains in effect until the loan is repaid.

## Notes

### Source

Source: 72 FR 29843, May 30, 2007, unless otherwise noted.

### Authority

Authority: 7 U.S.C. 1989(a), 7 U.S.C. 2008s.

### Source

Source: 70 FR 41303, July 18, 2005, unless otherwise noted.