master credit agreement

(9) Master credit agreement The term “master credit agreement” means a conditional agreement that— (A) is for the purpose of extending credit assistance for— (i) a project of high priority under section 16372(c)(3)(A) of this title ; or (ii) a project covered under section 16372(c)(3)(B) of this title ; (B) does not provide for a current obligation of Federal funds; and (C) would— (i) make a contingent commitment of a Federal credit instrument or grant at a future date, subject to— (I) the availability of future funds being made available to carry out the CIFIA program; and (II) the satisfaction of all conditions for the provision of credit assistance under the CIFIA program, including section 16373(b) of this title ; (ii) establish the maximum amounts and general terms and conditions of the Federal credit instruments or grants; (iii) identify the 1 or more revenue sources that will secure the repayment of the Federal credit instruments; (iv) provide for the obligation of funds for the Federal credit instruments or grants after all requirements have been met for the projects subject to the agreement, including— (I) compliance with all applicable requirements specified under the CIFIA program, including sections 16372(d) and 16373(b)(1) of this title ; and (II) the availability of funds to carry out the CIFIA program; and (v) require that contingent commitments shall result in a financial close and obligation of credit or grant assistance by not later than 4 years after the date of entry into the agreement or release of the commitment, as applicable, unless otherwise extended by the Secretary.


42 USC § 16371(9)

Scoping language

In this part
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