Page:United States Statutes at Large Volume 121.djvu/1799

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[121 STAT. 1778]
[121 STAT. 1778]
PUBLIC LAW 110-000—MMMM. DD, 2007

121 STAT. 1778

PUBLIC LAW 110–140—DEC. 19, 2007

have binding commitments (for contribution in cash or in-kind)— ‘‘(i) from sources other than the Administration that meet criteria established by the Administrator; and ‘‘(ii) payable or available over a multiyear period determined appropriate by the Administrator (not to exceed 10 years). ‘‘(B) EXCEPTION.—The Administrator may, in the discretion of the Administrator and based upon a showing of special circumstances and good cause, consider an applicant to have satisfied the requirements of subparagraph (A) if the applicant has— ‘‘(i) a viable plan that reasonably projects the capacity of the applicant to raise the amount (in cash or in-kind) required under subparagraph (A); and ‘‘(ii) binding commitments in an amount equal to not less than 20 percent of the total amount required under paragraph (A). ‘‘(C) LIMITATION.—The total amount of a in-kind contributions by a company shall be not more than 50 percent of the total contributions by a company. ‘‘(e) FINAL APPROVAL; DESIGNATION.—The Administrator shall, with respect to each applicant conditionally approved under subsection (c)— ‘‘(1) grant final approval to the applicant to operate as a Renewable Fuel Capital Investment company under this part and designate the applicant as such a company, if the applicant— ‘‘(A) satisfies the requirements of subsection (d) on or before the expiration of the time period described in that subsection; and ‘‘(B) enters into a participation agreement with the Administrator; or ‘‘(2) if the applicant fails to satisfy the requirements of subsection (d) on or before the expiration of the time period described in paragraph (1) of that subsection, revoke the conditional approval granted under that subsection. 15 USC 690d.

‘‘SEC. 385. DEBENTURES.

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‘‘(a) IN GENERAL.—The Administrator may guarantee the timely payment of principal and interest, as scheduled, on debentures issued by any Renewable Fuel Capital Investment company. ‘‘(b) TERMS AND CONDITIONS.—The Administrator may make guarantees under this section on such terms and conditions as it determines appropriate, except that— ‘‘(1) the term of any debenture guaranteed under this section shall not exceed 15 years; and ‘‘(2) a debenture guaranteed under this section— ‘‘(A) shall carry no front-end or annual fees; ‘‘(B) shall be issued at a discount; ‘‘(C) shall require no interest payments during the 5-year period beginning on the date the debenture is issued; ‘‘(D) shall be prepayable without penalty after the end of the 1-year period beginning on the date the debenture is issued; and

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