13 CFR 107.1720 - Characteristics of SBA's guarantee.
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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]
Title 13 published on 2014-01-01
no entries appear in the Federal Register after this date.