|§ 4279.201||Purpose and scope|
|§ 4279.202||Definitions and abbreviations|
|§ 4279.203||Exception authority|
|§ 4279.205||Prohibition under Agency programs|
|§ 4279.206||Agency representation|
Terms Used In CFR > Title 7 > Chapter XLII > Part 4279 > Subpart C > General
- 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
- Agency: The Rural Business-Cooperative Service or successor Agency assigned by the Secretary of Agriculture to administer the Program. See 7 CFR 4279.202
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- BAP: Biorefinery, Renewable Chemical, and Biobased Product Manufacturing Assistance Program. 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
- Biogas: Renewable Biomass converted to gaseous fuel. 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
- Bond: A form of debt security in which the authorized issuer (Borrower) owes the Bond holder (Lender) a debt and is obligated to repay the principal and Interest (coupon) at a later date(s) (maturity). 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
- 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
- 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.
- Default: The condition that exists when a Borrower is not in compliance with the Promissory Note, the Loan Agreement, security documents, or other documents evidencing the loan. See 7 CFR 4279.202
- Delinquency: A loan for which a scheduled loan payment is more than 30 days past due and cannot be cured within 30 days. See 7 CFR 4279.202
- Dependent: A person dependent for support upon another.
- 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.
- Federal debt: Debt owed to the Federal government that is subject to collection under the Debt Collection Improvement Act of 1996, 31 U. See 7 CFR 4279.202
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- Future recovery: Funds anticipated to be collected by the Lender after a final loss claim is processed. See 7 CFR 4279.202
- 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
- In-house expenses: Expenses associated with activities that are routinely the responsibility of a Lender's internal staff or its agents. See 7 CFR 4279.202
- Indian tribe: This term has the meaning as defined in 25 U. 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
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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.
- Liquidation expenses: Costs directly associated with the liquidation of Collateral, including preparing Collateral for sale (e. See 7 CFR 4279.202
- Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
- 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
- Loan service provider: A Person, other than the Lender of record, that provides loan servicing activities to the Lender. See 7 CFR 4279.202
- Local government: A county, municipality, town, township, village, or other unit of general government below the State level, or Indian Tribe governments. See 7 CFR 4279.202
- Local owner: An individual who owns any portion of an eligible Biorefinery and whose primary residence is located within a certain distance from the Biorefinery as specified by the Agency in a Notice published in the 7 CFR 4279.202
- Market value: The amount for which a property will sell for its highest and best use at a voluntary sale in an Arm's Length Transaction. 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
- NAD: National Appeals Division, or successor agency, in the United States Department of Agriculture. See 7 CFR 4279.202
- Negligent Loan Origination: The failure to perform those actions which a reasonably prudent lender would perform in originating its own portfolio of loans that are not guaranteed. See 7 CFR 4279.202
- Negligent Loan Servicing: The failure to perform those services which a reasonably prudent lender would perform in servicing (including liquidation of) its own portfolio of loans that are not guaranteed. See 7 CFR 4279.202
- 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.
- Off-take agreement: The terms and conditions governing the sale and transportation of Biofuels, Biobased Products including Renewable Chemicals, Biobased Product Manufacturing end-user products, and electricity produced by the Borrower to another party. See 7 CFR 4279.202
- Oversight: Committee review of the activities of a Federal agency or program.
- Parity: A lien position whereby two or more Lenders share a security interest of equal priority in Collateral. See 7 CFR 4279.202
- Participate: Sale of an interest in a loan by the lead Lender to one or more Lenders wherein the lead Lender retains the Promissory Note, Collateral securing the Promissory Note, and all responsibility for managing and servicing the loan. See 7 CFR 4279.202
- Person: An individual or entity. See 7 CFR 4279.202
- Pro rata: On a proportional basis. 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
- Protective advance: An advance made by the Lender for the purpose of preserving and protecting the Collateral where the Borrower has failed to, and will not or cannot, meet its obligations to protect or preserve Collateral. See 7 CFR 4279.202
- Public body: A municipality, county, or other political subdivision of a State. See 7 CFR 4279.202
- Renewable biomass: (1) Materials, pre-commercial thinnings, or invasive species from National Forest System land or public lands (as defined in section 103 of the Federal Land Policy and Management Act of 1976 (43 U. 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
- Rural Development: The mission area of USDA that is comprised of the Rural Business-Cooperative Service, Rural Housing Service, and Rural Utilities Service and is under the policy direction and operational oversight of the Under Secretary for Rural Development. See 7 CFR 4279.202
- Rural or rural area: See 7 U. See 7 CFR 4279.202
- Secretary: The Secretary of the Department of the Agriculture. See 7 CFR 4279.202
- Semi-work scale: A facility operating on a limited scale to provide final tests of a product or process. See 7 CFR 4279.202
- 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
- Statute: A law passed by a legislature.
- Subordination: The reduction of the Lender's lien priority on certain assets pledged to secure payment of the guaranteed loan to a position junior to, or on Parity with, the lien position of another loan in order for the Borrower to obtain additional financing, not guaranteed by the Agency, from the Lender or a third party. See 7 CFR 4279.202
- Technologically New: New or significantly improved equipment, process or production method to deliver a product, or adoption of equipment, process or production method to deliver a new or significantly improved product, of which the first Commercial-Scale use in the United States is within the last five years and is used in not more than three Commercial-Scale facilities in the United States. See 7 CFR 4279.202
- Total project costs: The sum of all costs associated with a completed Project. See 7 CFR 4279.202
- Transfer and assumption: The conveyance by a Borrower to an assuming Borrower of the assets, Collateral, and liabilities of the loan in return for the assuming Borrower's binding promise to pay the outstanding loan debt approved by the Agency. See 7 CFR 4279.202
- Well capitalized: Federal Deposit Insurance Corporation (FDIC) requirements used to determine if a lending institution has enough capital on hand to withstand negative effects in the market, and which the Agency uses to determine Lender eligibility. See 7 CFR 4279.202
- Working capital: Current assets available to support a business's operations. See 7 CFR 4279.202