CFR > Title 49 > Subtitle B > Chapter II > Part 260 > Subpart E – Procedures to Be Followed in the Event of Default
Current as of: 2024 | Check for updates
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Other versions
| § 260.45 | Events of default for guaranteed loans |
| § 260.47 | Events of default for direct loans |
| § 260.49 | Avoiding defaults |
Terms Used In CFR > Title 49 > Subtitle B > Chapter II > Part 260 > Subpart E - Procedures to Be Followed in the Event of Default
- Appraisal: A determination of property value.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.