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. 1706(j), Div. F, Public Law 113-6
source: 79 FR 41883, July 18, 2014, unless otherwise noted.
cite as: 22 CFR 236.11