Code of Federal Regulations (Last Updated: July 5, 2024) |
Title 22 - Foreign Relations |
Chapter II - Agency for International Development |
Part 221 - Israel Loan Guarantee Standard Terms and Conditions |
Subpart C - Procedure for Obtaining Compensation |
§ 221.24 - Subrogation of A.I.D.
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§ 221.24 Subrogation of A.I.D.
In the event of payment by A.I.D. to a Noteholder under this Guarantee, A.I.D. shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.