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Code of Federal Regulations Title 22. Foreign Relations § 22.235.5 Non-impairment of the Guarantee

Current as of October 02, 2022 | Updated by FindLaw Staff

After issuance of the Guarantee, the Guarantee will be an unconditional, full faith and credit obligation of the United States of America and will not be affected or impaired by any subsequent condition or event. This non-impairment of the guarantee provision shall not, however, be operative with respect to any loss arising out of fraud or misrepresentation for which the claiming Noteholder is responsible or of which it had knowledge at the time it became a Noteholder. In particular and without limitation, the Guarantee shall not be affected or impaired by:

(a) Any defect in the authorization, execution, delivery or enforceability of any agreement or other document executed by a Noteholder, USAID, the Fiscal Agent or the Borrower in connection with the transactions contemplated by this Guarantee or

(b) The suspension or termination of the program pursuant to which USAID is authorized to guarantee the Eligible Notes.

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Cite this article: FindLaw.com - Code of Federal Regulations Title 22. Foreign Relations § 22.235.5 Non-impairment of the Guarantee - last updated October 02, 2022 | https://codes.findlaw.com/cfr/title-22-foreign-relations/cfr-sect-22-235-5/

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