In the event of payment by USAID to a Noteholder under this 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: Security Assistance Appropriations Act, 2017 (Div. B, Pub. L. 114-254)
source: 82 FR 2218, Jan. 9, 2017, unless otherwise noted.
cite as: 22 CFR 241.11