[Code of Federal Regulations]
[Title 22, Volume 1]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 22CFR221.01]

[Page 966-967]
 
                       TITLE 22--FOREIGN RELATIONS
 
            CHAPTER II--AGENCY FOR INTERNATIONAL DEVELOPMENT
 
PART 221_ISRAEL LOAN GUARANTEE STANDARD TERMS AND CONDITIONS--Table 
of Contents
 
                          Subpart A_Definitions
 
Sec. 221.01  Definitions.




                          Subpart A_Definitions

Sec.
221.01 Definitions.

                         Subpart B_The Guarantee

221.11 The Guarantee.
221.12 Guarantee eligibility.
221.13 Non-impairment of the Guarantee.
221.14 Transferability of Guarantee; Note Register.
221.15 Fiscal Agent obligations.

             Subpart C_Procedure for Obtaining Compensation

221.21 Event of Default; Application for Compensation; payment.
221.22 No acceleration of Eligible Notes.
221.23 Payment to A.I.D. of excess amounts received by a Noteholder.
221.24 Subrogation of A.I.D.

                           Subpart D_Covenants

221.31 Prosecution of claims.
221.32 Change in agreements.

                        Subpart E_Administration

221.41 Arbitration.
221.42 Notice.
221.43 Governing law.

Appendix A to Part 221--Application for Compensation

    Authority: 22 U.S.C. 2186.

    Source: 58 FR 14148, Mar. 16, 1993, unless otherwise noted.



    Wherever used in these standard terms and conditions:
    (a) A.I.D. means the United States Agency for International 
Development or its successor with respect to the guarantee authorities 
contained in title III, chapter 2 of part I of the Foreign Assistance 
Act of 1961, as amended (the ``Act'').
    (b) Eligible Note(s) means [a] Notes[s] meeting the eligibility 
criteria set out in Sec. 221.12 hereof.
    (c) Noteholder means the owner of an Eligible Note who is registered 
as such on the Note Register of Eligible Notes required to be maintained 
by the Fiscal Agent.
    (d) Borrower means the Government of Israel, on behalf of the State 
of Israel.
    (e) Defaulted payment means, as of any date,
    (1) In respect of any current coupon Eligible Note, any interest 
amount and/or principal amount not paid when due, and
    (2) In respect of any zero-coupon Eligible Note, any maturity amount 
not paid when due.
    (f) Further guaranteed payments means the amount of any loss 
suffered by a Noteholder by reason of the Borrower's failure to comply 
on a timely basis with any obligation it may have under an Eligible Note 
to indemnify and hold harmless a Noteholder from taxes or governmental 
charges or any expense arising out of taxes or any other governmental 
charges relating to the Eligible Note in the country of the Borrower.
    (g) Loss of investment respecting any Eligible Note means an amount 
in Dollars equal to the total of the:

[[Page 967]]

    (1) Defaulted Payment unpaid as of the Date of Application,
    (2) Further Guaranteed Payments unpaid as of the Date of 
Application, and
    (3) Interest accrued and unpaid at the rate(s) specified in the 
Eligible Note(s) on the Defaulted Payment and Further Guaranteed 
Payments, in each case from the date of default with respect to such 
payment to and including the date on which full payment thereof is made 
to the Noteholder.
    (h) Application for compensation means an executed application in 
the form of appendix A to this part which a Noteholder, or the Fiscal 
Agent on behalf of a Noteholder, files with A.I.D. pursuant to Sec. 
221.21 of this part.
    (i) Applicant means a Noteholder who files an Application for 
Compensation with A.I.D., either directly or through the Fiscal Agent 
acting on behalf of a Noteholder.
    (j) Date of application means the effective date of an Application 
for Compensation filed with A.I.D. pursuant to Sec. 221.21 of this 
part.
    (k) Business day means any day other than a day on which banks in 
New York, New York are closed or authorized to be closed or a day which 
is observed as a federal holiday in Washington, DC, by the United States 
Government.
    (l) Guarantee payment date means a Business Day not more than three 
(3) Business Days after the related Date of Application.
    (m) Person means any legal person, including any individual, 
corporation, partnership, joint venture, association, joint stock 
company, trust, unincorporated organization, or government or any agency 
or political subdivision thereof.