PUBLIC LAW 106-553—APPENDIX B 114 STAT. 2762A-131
Federal Agricultural Mortgage Corporation, or any institution supervised by the Office of Federal Housing Enterprise
Oversight, the Federal Housing Finance Board, or any
affiliate of such entities;
(iv) any loan must have terms, in the judgment of
the Board, that are consistent in material respects with
the terms of similar obligations in the private capital market;
(v) for purposes of clause (i)(I)(bb), the term "net
equity" means the value of the total assets of the entity,
less the total liabilities of the entity, as recorded under
generally accepted accounting principles for the fiscal quarter ended immediately prior to the date on which the
subject loan is approved;
(E) repayment of the loan is required to be made
within a term of the lesser of—
(i) 25 years from the date of the execution of the
loan; or
(ii) the economically useful life, as determined by
the Board or in consultation with persons or entities
deemed appropriate by the Board, of the primary assets
to be used in the delivery of the signals concerned;
and
(F) the loan meets any additional criteria developed
under subsection (g).
(3) PROTECTION OF UNITED STATES FINANCIAL INTERESTS.—
The Board may not approve the guarantee of a loan under
this Act unless—
(A) the Board has been given documentation, assurances, and access to information, persons, and entities necessary, as determined by the Board, to address issues relevant to the review of the loan by the Board for purposes
of this Act; and
(B) the Board makes a determination in writing that—
(i) to the best of its knowledge upon due inquiry,
the assets, facilities, or equipment covered by the loan
will be utilized economically and efficiently;
(ii) the terms, conditions, security, and schedule
and amount of repayments of principal and the pay-
ment of interest with respect to the loan protect the
financial interests of the United States and are reasonable;
(iii) the value of collateral provided by an applicant
is at least equal to the unpaid balance of the loan
amount covered by the loan guarantee (the "Amount"
for purposes of this clause); and if the value of collateral provided by an applicant is less than the Amount,
the additional required collateral is provided by any
affiliate of the applicant;
(iv) all necessary and required regulatory and
other approvals, spectrum licenses, and delivery
permissions have been received for the loan and the
project under the loan;
(v) the loan would not be available on reasonable
terms and conditions without a loan guarantee under
this Act; and
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