25.100—Definitions.
In this part, unless the context indicates
otherwise:
(a)
Act means the provisions
entitled “Foreign Military Sales Debt Reform,” of
Title III, entitled “Military Assistance,” of an
act entitled “Foreign Operations, Export Financing
and Related Programs Appropriations Act, 1988”
(Pub. L. 100-202), enacted December 22, 1987.
(1)
With respect to the prepayment of the
amounts permitted by this part to be prepaid of
FMS Loans held by DSAA, the date designated by the
mutual agreement of both the Borrower and DSAA on
which the Guaranty will be attached to the Private
Loan Note or the Private Loan Portion Notes, as
the case may be, the Private Loan will be funded,
and the Total Permitted Prepayment Amount, or the
portion thereof which the Borrower has selected to
prepay, will be prepaid; and
(2)
With respect to the prepayment of the
amounts permitted by this part to be prepaid of
FMS Loans held by the FFB and guaranteed by DSAA,
the date designated by the mutual agreement of the
Borrower, the FFB, and DSAA on which the Guaranty
will be attached to the Private Loan Note or the
Private Loan Portion Notes, as the case may be,
the Private Loan will be funded, and the Total
Permitted Prepayment Amount, or Portion thereof
which the Borrower has selected to prepay, will be
prepaid.
(e)
Derivative means any right,
interest, instrument or security issued or traded
on the credit of the Private Loan or any Private
Loan Portion, including but not limited to:
(1)
Any participation share of, or undivided
ownership or other equity interest in, the Private
Loan or any Private Loan Portion;
(2)
Any note, bond or other debt instrument or
obligation which is collateralized or otherwise
secured by a pledge of, or secruity interest in,
the Private Loan or any Private Loan Portion;
or
Code of Federal Regulations
(3)
Bears interest pursuant to the terms of the
loan agreement relating thereto at a consolidated
rate equal to or greater than 10 percentum per
annum.
Code of Federal Regulations
(i)
Any banking, savings, or lending
institution, or any subsidiary or affiliate
thereof, chartered or otherwise lawfully organized
under the laws of any State, the District of
Columbia, the United States or any territory or
possession of the United States, including, but
not limited to, any bank, trust company,
industrial bank, investment banking company,
savings association, savings and loan association,
building and loan association, savings bank,
credit union, or finance company, which is doing
business in the United States;
(ii)
Any broker or dealer registered with the
Securities and Exchange Commission pursuant to the
Securities Exchange Act of 1934;
(iii)
Any company lawfully organized as an
insurance company, and which is subject to
supervision by the insurance commissioner or a
similar official or agency of a State; or
(2)
Any trust or other special purpose
financing entity which is funded initially by an
entity or entities of the type described in
paragraph (i)(1) of this section.
(j)
FFB means the Federal
Financing Bank, and instrumentality and
wholly-owned corporation of the United States.
(1)
A disbursement of funds made pursuant to a
loan agreement between the Borrower and DSAA,
which loan agreement provides for making of an FMS
Loan; or
(2)
A disbursement of funds made pursuant to a
loan agreement between the Borrower and the FFB,
which loan agreement provides for the making of an
FMS Loan.
(2)
A loan made by the FFB and guaranteed by
the Secretary of Defense pursuant to section 24 of
AECA; and “FMS Loans” mean the aggregate of such
loans made to or for the account of a
Borrower.
(n)
Guaranteed-amount debt
derivative means any note, bond or other debt
instrument or obligation which is collateralized
or otherwise secured by a pledge of, or security
interest in, the Private Loan Note or any Private
Loan Portion Note or any Derivative, as the case
may be, which has an exclusive or preferred claim
to the Guaranteed Loan Amount or the respective
Guaranteed Loan Portion Amount or the respective
Guaranteed-Amount Equivalent, as the case may
be.
(o)
Guaranteed-amount equity
derivative means any participation share of,
or undivided ownership or other equity interest
in, the Private Loan or any Private Loan Portion
or any Derivative, as the case may be, which has
an exclusive or preferred claim to the Guaranteed
Loan Amount or the respective Guaranteed Loan
Portion Amount or the respective Guaranteed-Amount
Equivalent, as the case may be.
(1)
With respect to any Derivative which is
equal in principal amount to the Private Loan or
any Private Loan Portion, that amount of payment
on account of such Derivative which is equal to the Guaranteed Loan Amount or
the respective Guaranteed Loan Portion Amount, as
the case may be; or
(2)
With respect to any Derivatives which in
the aggregate are equal in principal amount to the
Private Loan or any Private Loan Portion, that
amount of payment on account of such derivatives
which is equal to the Guaranteed Loan Amount or
the respective Guaranteed Loan Portion Amount, as
the case may be.
(q)
Guaranteed loan amount means
that amount of payment on account of the Private
Loan which is guaranteed under the terms of the
Guaranty.
(r)
Guaranteed loan portion
amount means that amount of payment on account
of any Private Loan Portion which is guaranteed
under the terms of the Guaranty.
(s)
Guaranty means either a new
guaranty of the United States issued by DSAA or an
existing guaranty of the United States transferred
by DSAA, in the form of guaranty set forth in §
25.405, which guaranty will be attached to a
Private Loan Note or Private Loan Portion
Note.
(1)
The cost of funds to the Borrower for the
Private Loan (expressed in terms of the true rate
of interest applicable to the Private Loan) if
paragraph (a) of § 25.404 applies to the Private
Loan; and
(2)
The cost of funds to the Borrower for the
Private Loan (expressed in terms of the true rate
of interest applicable to the Private Loan) if
paragraph (a) of § 25.404 does not apply to the
Private Loan.
(u)
Non-registered obligation
means a bearer obligation which does not comply
with all of the registration requirements of the
Internal Revenue Code.
(v)
Permitted arrears prepayment
amount means the sum of all arrears, if any,
on all FMS Loans, which arrears are outstanding on
the Closing Date.
(x)
Permitted P&I prepayment
amount means, with respect to each Eligible
FMS Loan or Eligible FMS Advance, as the case may
be, the sum of:
(1)
All principal amounts which become due and
payable after September 30, 1989, on the
respective Eligible FMS Loan or Eligible FMS
Advance; and
(2)
All unpaid interest, if any, on the
respective Eligible FMS Loan or Eligible FMS
Advance accrued as of the Closing Date.
(y)
Private loan means,
collectively, the loan or loans that is or are
obtained by the Borrower from an Eligible Private
Lender to prepay the Total Permitted Prepayment
Amount, or the portion thereof which the Borrower
has selected to prepay.
(z)
Private loan note means,
collectively, the note or notes executed and
delivered by the Borrower to evidence the Private
Loan.
(bb)
Private loan portion note
means any note executed and delivered by the
Borrower to evidence a Private Loan Portion.
(1)
The aggregate of the respective Permitted
P&I Prepayment amount for all Eligible FMS
Loans and all Eligible FMS Advances on account of
FMS Loans which FMS Loans do not, in themselves,
meet the criteria of Eligible FMS Loans; and
(dd)
Unguaranteed-amount
equivalent means all amounts of payment on
account of any Derivative other than the
respective Guaranteed-Amount Equivalent.
(ee)
Unguaranteed loan amount
means all amounts of payment on account of the
Private Loan other than the Guaranteed Amount.
(ff)
Unguaranteed loan portion
amount means all amounts of payment on account
of any Private Loan Portion other than the
respective Guaranteed Loan Portion Amount.