The full faith and credit of the United States of America is pledged to the performance of this Guarantee. The Guarantee shall be unconditional, and 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. 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.
authority: Emergency Wartime Supplemental Appropriations Act, 2003, Pub. L. 108-11, as amended by Section 534(p) of the Foreign Operations, Export Financing and Related Programs Appropriations Act, 2005; Division D of the Consolidated Appropriations Act, 2005, Pub. L. 108-447; Section 13(b) of the Department of State Authorities Act, 2006, Pub. L. 109-472; and Section 5(b) of the United States-Israel Enhanced Security Cooperation Act of 2012, Pub. L. 112-150
source: 78 FR 66842, Nov. 7, 2013, unless otherwise noted.
cite as: 22 CFR 230.05