922 loans for Dummies

The phrase "broadband support" suggests any technological innovation recognized by the Secretary as acquiring the capacity to transmit knowledge to permit a subscriber for the support to originate and receive superior-excellent voice, knowledge, graphics, and video.

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(4) any outreach activities carried out through the Secretary to inspire entities in rural spots with out broadband provider to post programs beneath this chapter;

(A) immediately after giving discover demanded by subsection (a)(1), afford to pay for services companies not below 45 days to voluntarily submit details needed because of the Secretary on to the agency's on-line mapping Device with respect to areas that are coterminous While using the proposed provider location of the application (or any components thereof), this kind of the Secretary may well evaluate irrespective of whether the applying submitted satisfies the eligibility requirements underneath this subchapter; and

(A) Harmonize broadband notification and reporting needs and build common verification techniques across all federally supported broadband courses.

(B) any area in a assistance spot of a borrower for which a borrower has an outstanding mortgage designed under subchapters I by V as on the day of enactment of this paragraph.

On request of any applicant for a mortgage under this paragraph all through any fiscal 12 months, the Secretary shall—

If a borrower fulfills the click here penalty necessities of paragraph (one) by raising the superb principal equilibrium of your mortgage progress that is being refinanced, the borrower shall make a payment at some time of your refinancing equivalent to 2.

(iii) concur to finish buildout with the broadband infrastructure explained in the appliance by not later than five decades once the First date on which assistance under this portion is built accessible.

inserted before time period at end "; along with the time period 'Secretary' shall be deemed to indicate the Secretary of Agriculture".

No borrower of cash beneath sections 904 or 922 of this title shall, with no acceptance on the Secretary, market or dispose of its assets, legal rights, or franchises, acquired underneath the provisions of this chapter, until finally any loan attained from the Rural Electrification Administration, such as all desire and rates, shall are repaid.

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Absolutely nothing With this segment boundaries the authority of the Secretary to ascertain conditions and terms with respect on the use by borrowers of the proceeds of loans manufactured or confirmed under this chapter or to just take another action exclusively licensed by regulation.

A borrower may possibly decrease the balance of its cushion of credit account provided that the amount obtained within the reduction is utilized to make scheduled payments on loans manufactured or guaranteed less than this chapter.