Terms Used In CFR > Title 7 > Chapter XLII > Part 4279 > Subpart C > Applications
- Administrator: The Administrator of Rural Business-Cooperative Service within the Rural Development mission area of the U. See 7 CFR 4279.202
- Advanced biofuel: Fuel derived from Renewable Biomass, other than corn kernel starch, to include:
(1) Biofuel derived from cellulose, hemicellulose, or lignin. See 7 CFR 4279.202
- Affiliate: An entity that is related to another entity by owning shares or having an interest in the entity, by common ownership, or by any means of control. See 7 CFR 4279.202
- Agency: The Rural Business-Cooperative Service or successor Agency assigned by the Secretary of Agriculture to administer the Program. See 7 CFR 4279.202
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Amortization: Paying off a loan by regular installments.
- 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.
- Assignment Guarantee Agreement: Form RD 4279-6, "Assignment Guarantee Agreement" is the signed agreement between the Agency, the Lender, and the Holder containing the terms and conditions of an assignment of a guaranteed portion of a loan, using the single Promissory Note system. See 7 CFR 4279.202
- Biobased product: A product determined by the Secretary to be a commercial or industrial product (other than food or feed) that is either:
(1) Composed, in whole or in significant part, of biological products, including renewable domestic agricultural materials and forestry materials. See 7 CFR 4279.202
- Biobased product manufacturing: The use of Technologically New Commercial-Scale processing and manufacturing equipment and required facilities to convert Renewable Chemicals and other biobased outputs of Biorefineries into end-user products on a Commercial Scale. See 7 CFR 4279.202
- Biofuel: A fuel derived from Renewable Biomass. See 7 CFR 4279.202
- Biorefinery: A facility (including equipment and processes) that converts Renewable biomass or an intermediate ingredient or feedstock of Renewable biomass into any one or more, or a combination, of Biofuels, Renewable chemicals or Biobased products, and may produce electricity. See 7 CFR 4279.202
- Borrower: The Person that borrows, or seeks to borrow, money from the Lender, including any party liable for the loan except for guarantors. See 7 CFR 4279.202
- Budget authority: Authority provided by law to enter into obligations that will result in outlays of Federal funds. Budget authority may be classified by the period of availability (one-year, multiyear, no-year), by the timing of congressional action (current or permanent), or by the manner of determining the amount available (definite or indefinite).
- Byproduct: An incidental or secondary product generated under normal operations of the proposed Project that can be reasonably measured and monitored other than: Advanced Biofuel, Program-eligible Biobased Products including Renewable Chemicals, and Program-eligible end-user products produced by Biobased Product Manufacturing facilities. See 7 CFR 4279.202
- Collateral: The asset(s) pledged by the Borrower to secure the loan. See 7 CFR 4279.202
- Conditional Commitment: Form RD 4279-3, "Conditional Commitment" is the Agency's notice to the Lender that the loan guarantee it has requested is approved subject to the completion of all conditions and requirements set forth by the Agency and outlined in the attachment to the Conditional Commitment. See 7 CFR 4279.202
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Credit report: A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness. Source: OCC
- Dependent: A person dependent for support upon another.
- Eligible project costs: Those expenses approved by the Agency for the Project as set forth in §4279. See 7 CFR 4279.202
- Eligible technology: means , as determined by the Secretary:
(1) A technology that is being adopted in a viable Commercial-scale operation of a Biorefinery that produces any one or more, or a combination, of an Advanced biofuel; a Renewable chemical; or a Biobased product; and
(2) A technology not described in paragraph (1) of this definition that has been demonstrated to have technical and economic potential for commercial application in a Biorefinery that produces any one or more, or a combination, of an Advanced biofuel, a Renewable chemical or a Biobased product. See 7 CFR 4279.202
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Feasibility study: An analysis by an independent qualified consultant or consultants of the economic, market, technical, financial, and management feasibility of a proposed Project or business in terms of its expectation for success. See 7 CFR 4279.202
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Good cause: A justification representing a reasonable approach given:
(1) The reasonably available alternatives. See 7 CFR 4279.202
- Holder: A Person, other than the Lender, who owns all or part of the guaranteed portion of the loan with no servicing responsibilities. See 7 CFR 4279.202
- Interest: A fee paid by a Borrower to a Lender as a form of compensation for the use of money. See 7 CFR 4279.202
- Lender: The entity approved, or seeking to be approved, by the Agency to make, service, and collect the Agency guaranteed loan that is subject to this subpart. See 7 CFR 4279.202
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Lien: A claim against real or personal property in satisfaction of a debt.
- Loan agreement: The agreement between the Borrower and Lender containing the terms and conditions of the loan and the responsibilities of the Borrower and Lender. See 7 CFR 4279.202
- Loan Note Guarantee: Form RD 4279-5, "Loan Note Guarantee" or predecessor form, issued and executed by the Agency containing the terms and conditions of the guarantee. See 7 CFR 4279.202
- Material adverse change: Any change in circumstance associated with a guaranteed loan, including the Borrower's financial condition or Collateral that could be reasonably expected to jeopardize loan performance. See 7 CFR 4279.202
- Person: An individual or entity. See 7 CFR 4279.202
- Program: Biorefinery Renewable Chemical, and Biobased Product Manufacturing Assistance Program often abbreviated as BAP. See 7 CFR 4279.202
- Project: The facility or portion of a facility receiving funding under this subpart. See 7 CFR 4279.202
- Promissory note: Evidence of debt with stipulated repayment terms. See 7 CFR 4279.202
- Renewable chemical: A monomer, polymer, plastic, formulated product, or chemical substance produced from Renewable Biomass. See 7 CFR 4279.202
- Retrofitting: The modification of a building or equipment to incorporate functions not included in the original design. See 7 CFR 4279.202
- Secretary: The Secretary of the Department of the Agriculture. See 7 CFR 4279.202
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
- Spreadsheet: A table containing data from a series of financial statements of a business over a period of time. See 7 CFR 4279.202
- State: Any of the 50 States of the U. See 7 CFR 4279.202
- Working capital: Current assets available to support a business's operations. See 7 CFR 4279.202