§ 4279.214 General functions and responsibilities
§ 4279.215 Credit evaluation
§ 4279.216 Environmental responsibilities
§ 4279.217 Oversight and monitoring

Terms Used In CFR > Title 7 > Chapter XLII > Part 4279 > Subpart C > Lender Functions and Responsibilities

  • Agency: The Rural Business-Cooperative Service or successor Agency assigned by the Secretary of Agriculture to administer the Program. 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
  • Contract: A legal written agreement that becomes binding when signed.
  • 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
  • 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.
  • 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
  • Loan packager: A Person, other than the applicant Borrower or Lender, that prepares a loan application package. 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
  • Oversight: Committee review of the activities of a Federal agency or program.
  • 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
  • State: Any of the 50 States of the U. See 7 CFR 4279.202