108.1620—Functions of agents, including Central Registration Agent, Selling Agent and Fiscal Agent.
(a) Agents.
SBA may appoint or cause to be appointed agent(s) to perform functions necessary to market and service Debentures or TCs pursuant to this part.
(1) Selling Agent.
As a condition of guaranteeing a Debenture, SBA may cause each NMVC Company to appoint a Selling Agent to perform functions that include, but are not limited to:
(ii)
Receiving guaranteed Debentures as well as negotiating the terms and conditions of sales or periodic offerings of Debentures and/or TCs on behalf of NMVC companies.
(iv)
Arranging for the production of Offering Circulars, certificates, and such other documents as may be required from time to time.
(ii)
Monitor and evaluate the financial markets to determine those factors that will minimize or reduce the cost of funding Debentures.
(3) Central Registration Agent.
Pursuant to a contract entered into with SBA, the CRA, as SBA's agent, will do the following with respect to the Pools or Trust Certificates for the Debentures:
(v)
Make periodic payments as scheduled or required by the terms of the TCs, and pay all amounts required to be paid upon prepayment of Debentures;
(vi)
Hold, safeguard, and release all Debentures constituting Trusts or Pools upon instructions from SBA;
(ix)
Perform such other functions as SBA may deem necessary to implement the provisions of this section.
(b) Functions.
Either SBA or an agent appointed by SBA may perform the function of locating purchasers, and negotiating and closing the sale of Debentures and TCs. Nothing in the regulations in this part shall be interpreted to prevent the CRA from acting as SBA's agent for this purpose.