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(a) General. Under the provisions in §§ 4290.1200 through 4290.1240, you may apply for the Agency's conditional commitment to reserve a specific amount of Leverage and type of Debenture (standard or discounted) for your future use. You may then apply to draw down Leverage against the commitment.
(b) Applying for a Leverage commitment. The Agency will notify you when requests for Leverage commitments are being accepted, and upon receipt of your request, will send you a complete application package.
(c) Limitations on the amount of a Leverage commitment. The amount of a Leverage commitment must be a multiple of $5,000. The Agency in its discretion may determine a minimum dollar amount for Leverage commitments. Any such minimum amounts will be published in Notices in the Federal Register from time to time.
(d) Term of Leverage commitment. Your Leverage commitment will automatically lapse on the expiration date stated in the commitment letter issued to you by the Agency. The Agency's Leverage commitment will be included in the Participation Agreement at the time of your licensing as a RBIC, under § 4290.390.
Cite this article: FindLaw.com - Code of Federal Regulations Title 7. Agriculture § 7.4290.1200 Leverage commitment to a RBIC—application procedure, amount, and term - last updated October 03, 2022 | https://codes.findlaw.com/cfr/title-7-agriculture/cfr-sect-7-4290-1200/
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