GroundRules
22 CFR 236.5: Non-impairment of the Guarantee.
Where this section sits in the code
- Title 22—Foreign Relations
- CHAPTER II—AGENCY FOR INTERNATIONAL DEVELOPMENT
- PART 236—REPUBLIC OF TUNISIA LOAN GUARANTEES ISSUED UNDER THE FURTHER CONTINUING APPROPRIATIONS ACT, 2014, DIV. F, PUBLIC LAW 113-6—STANDARD TERMS AND CONDITIONS
After issuance of the Guarantee, the Guarantee will be an unconditional, full faith and credit obligation of the United States of America and will not be affected or impaired by any subsequent condition or event. This non-impairment of the guarantee provision shall not, however, be operative with respect to any loss arising out of fraud or misrepresentation for which the claiming Noteholder is responsible or of which it had knowledge at the time it became a Noteholder. In particular and without limitation, the Guarantee shall not be affected or impaired by:
(a) Any defect in the authorization, execution, delivery or enforceability of any agreement or other document executed by a Noteholder, USAID, the Fiscal Agent or the Borrower in connection with the transactions contemplated by this Guarantee or
(b) The suspension or termination of the program pursuant to which USAID is authorized to guarantee the Eligible Notes.
Collected 2026-08-27T02:24:49Z. Source file · JSON