1. Regulations
  2. title 22
  3. chapter II
  4. part 239
  5. § 239.11

View all text of Part 239 [§ 239.1 - § 239.16]

§ 239.11 - Subrogation of USAID.

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: Section 7034(o) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2016 (Div. K, Pub. L. 114-113)

SOURCE: 81 FR 50618, Aug. 2, 2016, unless otherwise noted.

CITE AS: 22 CFR 239.11