master credit agreement

(10) Master credit agreement .— The term “master credit agreement” means a conditional agreement to extend credit assistance for a program of related projects secured by a common security pledge covered under section 602(b)(2)(A) or for a single project covered under section 602(b)(2)(B) that does not provide for a current obligation of Federal funds, and that would— (A) make contingent commitments of 1 or more secured loans or other Federal credit instruments at future dates, subject to— (i) the availability of future funds being made available to carry out the TIFIA program; and (ii) the satisfaction of all of the conditions for the provision of credit assistance under the TIFIA program, including section 603(b)(1); (B) establish the maximum amounts and general terms and conditions of the secured loans or other Federal credit instruments; (C) identify the 1 or more dedicated non-Federal revenue sources that will secure the repayment of the secured loans or secured Federal credit instruments; (D) provide for the obligation of funds for the secured loans or secured Federal credit instruments after all requirements have been met for the projects subject to the master credit agreement, including— (i) completion of an environmental impact statement or similar analysis required under the National Environmental Policy Act of 1969 ( 42 U.S.C. 4321 et seq.); (ii) receiving an investment grade rating from a rating agency; (iii) compliance with such other requirements as are specified under the TIFIA program, including sections 602(c) and 603(b)(1); and (iv) the availability of funds to carry out the TIFIA program; and (E) require that contingent commitments result in a financial close and obligation of credit assistance not later than 3 years after the date of entry into the master credit agreement, or release of the commitment, unless otherwise extended by the Secretary.

Source

23 USC § 601(a)(10)


Scoping language

None identified, default scope is assumed to be the parent (chapter 6) of this section.
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