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: Pub. L. 113-95, 128 Stat. 1088
source: 79 FR 26834, May 12, 2014, unless otherwise noted.
cite as: 22 CFR 234.11