110 STAT. 3009 -467 PUBLIC LAW 104-208—SEPT. 30, 1996
"(I)(aa) purchase at sale under a judgment
or decree, power of sale, or nonjudicial foreclosure
sale;
"(bb) a deed in lieu of foreclosure, or similar
conveyance from a trustee; or
"(cc) repossession,
if the vessel or facility was security for an extension
of credit previously contracted;
"(11) conveyance pursuant to an extension of
credit previously contracted, including the termination of a lease agreement; or
"(III) any other formal or informal manner
by which the person acquires, for subsequent disposition, title to or possession of a vessel or facility
in order to protect the security interest of the
person.
"(iv) LENDER.— The term 'lender' means—
"(I) an insured depository institution (as
defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813));
"(II) an insured credit union (as defined in
section 101 of the Federal Credit Union Act (12
U.S.C. 1752));
"(III) a bank or association chartered under
the Farm Credit Act of 1971 (12 U.S.C. 2001 et
seq.);
"(IV) a leasing or trust company that is an
affiliate of an insured depository institution;
"(V) any person (including a successor or
assignee of any such person) that makes a bona
fide extension of credit to or takes or acquires
a security interest from a nonaffiliated person;
"(VI) the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Federal Agricultural Mortgage Corporation, or any other entity that in a bona fide manner
buys or sells loans or interests in loans;
"(VII) a person that insures or guarantees
against a default in the repayment of an extension
of credit, or acts as a surety with respect to an
extension of credit, to a nonaffiliated person; and
"(VIII) a person that provides title insurance
and that acquires a vessel or facility as a result
of assignment or conveyance in the course of
underwriting claims and claims settlement,
"(v) OPERATIONAL FUNCTION. — The term 'operational function' includes a function such as that of
a facility or plant manager, operations manager, chief
operating officer, or chief executive officer.
"(vi) SECURITY INTEREST. —The term 'security
interest' includes a right under a mortgage, deed of
trust, assignment, judgment lien, pledge, security
agreement, factoring agreement, or lease and any other
right accruing to a person to secure the repayment
of money, the performance of a duty, or any other
obligation by a nonaffiliated person.".
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