(a) To qualify for a loan prepayment at par
pursuant to subsection (a) of the Act, a Borrower
must have an Eligible FMS Loan or an Eligible FMS
(b) A Borrower may prepay the Total Permitted
Prepayment Amount in portions using more than one
closing; however, all prepayments of the Total
Permitted Prepayment Amount must have a Closing
Date that is not later than September 30,
(c) A Borrower may prepay all or a portion of
the Total Permitted Prepayment Amount; however, if
a Borrower selects to prepay any Permitted P&I
Prepayment Amount of an FMS Advance, the Borrower
must prepay the entire Permitted P&I
Prepayment Amount of such FMS Advance.
(d) If the payment billings of an FMS Loan have
been consolidated in accordance with the terms of
the respective loan agreement, and if any
principal payments have been made on account of
the FMS Loan, then the outstanding principal
balances of any Eligible FMS Advances shall be
determined in accordance with the principal of
“first disbursed, first repaid,” that is, advances
on account of the FMS Loan shall be deemed to have
been repaid in the chronological order in which
they were disbursed.
Title 31 published on 2012-07-01
no entries appear in the Federal Register after this date.
This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.