Loan deficiency payment

Loan deficiency payment means a payment received in lieu of a loan when the CCC-determined value is below the applicableloan rate.

Source

7 CFR § 1427.3


Scoping language

The definitions in this section shall apply for all purposes of program administration regarding the cotton loan and loan deficiency payment programs. The terms defined in part 718 of this title and parts 1412, 1421, 1423, 1425, and 1434 of this chapter shall also apply, except where they conflict with definitions in this section.

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