In the event of payment by USAID to a Noteholder under the Guarantee, USAID shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.
authority: Sec. 7041(g)(1)(A), Div. K, Pub. L. 113-76, 128 Stat. 5
source: 79 FR 35283, June 20, 2014, unless otherwise noted.
cite as: 22 CFR 235.11