§ 253.10 General definitions
§ 253.11 General FFP credit standards and requirements
§ 253.12 Credit application
§ 253.13 Initial investigation and approval
§ 253.14 Loan documents
§ 253.15 Recourse against parties
§ 253.16 Actual cost
§ 253.17 Insurance
§ 253.18 Closing
§ 253.19 Dual-use CCF
§ 253.20 Fees
§ 253.21 Demand by guaranteed noteholder and payment
§ 253.22 Program operating guidelines
§ 253.23 Default and liquidation
§ 253.24 Enforcement violations and adverse actions
§ 253.25 Other administrative requirements
§ 253.26 Traditional loans
§ 253.27 IFQ financing
§ 253.28 Halibut sablefish IFQ loans
§ 253.29 CDQ loans
§ 253.30 Crab IFQ loans
§ 253.31 Harvesting rights loans

Terms Used In CFR > Title 50 > Chapter II > Subchapter F > Part 253 > Subpart B

  • Act: means Chapter 537 of Title 46 of the U. See 50 CFR 253.10
  • Actual cost: means the sum of all amounts for a project paid by an obligor (or related person), as well as all amounts that the Program determines the obligor will become obligated to pay, as such amounts are calculated by §253. See 50 CFR 253.10
  • Applicant: means the individual or entity applying for a loan (the prospective obligor). See 50 CFR 253.10
  • Application: means the documents provided to or requested by NMFS from an applicant to apply for a loan. See 50 CFR 253.10
  • Application fee: means 0. See 50 CFR 253.10
  • Captain: means a vessel operator or a vessel master. See 50 CFR 253.10
  • Citizen: means a "citizen of the United States" as described in 46 U. See 50 CFR 253.10
  • Demand: means a noteholder's request that a debtor or guarantor pay a note's full principal and interest balance. See 50 CFR 253.10
  • Facility: means a fishery or an aquaculture facility. See 50 CFR 253.10
  • Fish: means finfish, mollusks, crustaceans and all other forms of aquatic animal and plant life, other than marine mammals and birds. See 50 CFR 253.10
  • Fishery facility: means land, land structures, water craft that do not engage in fishing, and equipment used for transporting, unloading, receiving, holding, processing, preserving, or distributing fish for commercial purposes (including any water craft used for charter fishing). See 50 CFR 253.10
  • Guarantee: means a guarantor's contractual promise to repay indebtedness if an obligor fails to repay as agreed. See 50 CFR 253.10
  • Guarantee fee: means one percent of a guaranteed note's average annual unpaid principal balance. See 50 CFR 253.10
  • Guaranteed note: means a promissory note from an obligor to a noteholder, the repayment of which the United States guarantees. See 50 CFR 253.10
  • IFQ: means Individual Fishing Quota, which is a Federal permit under a limited access system to harvest a quantity of fish, expressed by a unit or units representing a percentage of the total allowable catch of a fishery that may be received or held for exclusive use by a person. See 50 CFR 253.10
  • Noteholder: means a guaranteed note payee. See 50 CFR 253.10
  • Obligor: means a party primarily liable for payment of the principal of or interest on an obligation, used interchangeably with the terms "note payor" or "notemaker. See 50 CFR 253.10
  • Origination year: means the year in which an application for a loan is accepted for processing. See 50 CFR 253.10
  • Program: means the Fisheries Finance Program, Financial Services Division, National Marine Fisheries Service, National Oceanic and Atmospheric Administration, U. See 50 CFR 253.10
  • RAM: means the Restricted Access Management division in the Alaska Regional Office of NMFS or the office that undertakes the duties of this division to issue or manage quota shares. See 50 CFR 253.10
  • Refinancing: means newer debt that either replaces older debt or reimburses applicants for previous expenditures. See 50 CFR 253.10
  • Refurbishing: means any reconstruction, reconditioning, or other improvement of existing vessels or facilities, but does not include routine repairs or activities characterized as maintenance. See 50 CFR 253.10
  • Useful life: means the period during which project property will, as determined by the Program, remain economically productive. See 50 CFR 253.10
  • Vessel: means any vessel documented under U. See 50 CFR 253.10