922 loans Options
922 loans Options
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The Commission shall check with With all the Secretary just before giving or giving Hook up America Fund or Mobility Fund aid under the Federal universal assistance guidance mechanisms proven less than section 254 of title forty seven to provide a region with respect to which A further entity has received broadband guidance beneath a loan or grant software in the Office of Agriculture.
Loans comprised of or insured in the fund shall be for a similar reasons and on precisely the same terms and conditions as are presented for loans in subchapters I and II of this chapter except as if not presented in sections 933 to 938 inclusive.
Issue to the constraints In this particular area and the provisions in the Federal Credit Reform Act of 1990 [2 U.S.C. 661 et seq.], as amended, a borrower of a loan created by the Federal Financing Bank and assured underneath this chapter may well ask for an extension of the ultimate maturity on the fantastic principal equilibrium of this kind of loan or any loan progress thereunder.
For uses of deciding whether to offer guidance for just a undertaking less than this segment, the Secretary shall use standards that are technologically neutral.
(iii) the average cost of one of the most subscribed tier of broadband assistance in the proposed provider location;
No sums Together with the payment from the outstanding principal stability owing over the loan could be charged as the result of this kind of prepayment against the borrower, the fund, or maybe the Secretary.
(3) build and administer various pilot jobs as a result of electric powered and phone borrowers that the Secretary establishes are beneficial or needed, and advocate distinct rural progress initiatives for rural locations;
(2) recommendations for just about any regulatory or legislative variations that will be acceptable to improve expert services to considerably underserved belief locations.
Not less than 3 p.c instead of greater than five p.c of quantities appropriated to perform this portion to get a fiscal year shall be useful for technological help and schooling beneath this paragraph.
Other than as furnished in clause (ii), subparagraph (A)(ii) shall not implement to an incumbent provider supplier within the percentage of a proposed provider territory during which the provider is upgrading broadband company to satisfy the minimum suitable level of broadband service founded beneath subsection (e) for the prevailing territory on the incumbent service supplier.
Except as furnished in paragraph (two), a direct or insured loan manufactured under this chapter shall not be bought or pay as you go at a value that is less than the outstanding principal harmony within the mortgage.
The phrase "broadband buildout prerequisite" indicates the extent of Online services an applicant receiving support under this area need to agree, at enough time the appliance is finalized, to supply for your duration of any venture-associated settlement between the applicant as well as Section.
Pub. L. one hundred fifteen–334, § 6211, substituted “furnishing telephone assistance in rural places, including indebtedness of recipients on A different telecommunications mortgage built below this chapter.” for “furnishing phone services in rural parts: Offered, That these types of refinancing shall be determined by the Secretary to get necessary in an effort to furnish and make click here improvements to telephone company in rural locations: And presented further, That this sort of refinancing shall constitute not in excess of forty for every centum of any mortgage manufactured underneath this subchapter.”
(iii) The approach have to inspire and make improvements to Computer system networks and data highways for subscribers in rural parts.