13 CFR 120.922 - Pre-existing debt on the Project Property.
In addition to its share of Project cost, a Third-Party Loan may include consolidation of existing debt on the Project Property. The consolidation must not improve the lien position of the Lender on the pre-existing debt, unless the debt is a previous Third-Party Loan.
Title 13 published on 2015-01-01.
No entries appear in the Federal Register after this date, for 13 CFR Part 120.