Code of Federal Regulations (Last Updated: April 5, 2024) |
Title 13 - Business Credit and Assistance |
Chapter I - Small Business Administration |
Part 107 - Small Business Investment Companies |
Subpart I - SBA Financial Assistance for Licensees (Leverage) |
Miscellaneous |
§ 107.1720 - Characteristics of SBA's guarantee.
Latest version.
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§ 107.1720 Characteristics of SBA's guarantee.
If SBA agrees to guarantee a Licensee's Debentures or Participating Securities, such guarantee will be unconditional, irrespective of the validity, regularity or enforceability of the Debentures or Participating Securities or any other circumstances which might constitute a legal or equitable discharge or defense of a guarantor. Pursuant to its guarantee, SBA will make timely payments of principal and interest on the Debentures or the Redemption Price of and Prioritized Payments on the Participating Securities.
[63 FR 5873, Feb. 5, 1998]