7 CFR 1786.105
§ 1786.105 Closing.
United States · 7 CFR — Agriculture · Status: effective
Cite this
- Citation
- 7 CFR 1786.105, § 1786.105 Closing, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/28299
- Permanent ID
ys:prov:28299@1- SHA-256
e90b6554c0003c936ac1c772e7c5367e6311509cbde23977242b58726817b611
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(a) The borrower shall be responsible for obtaining all approvals necessary to consummate the transaction as required by the prepayment agreement, including such approvals as may be required by regulatory bodies and other lenders.
(b) The RUS Notes shall be prepaid at a closing to be held in accordance with the prepayment agreement. RUS shall designate the date of closing which in no event shall be later than one year after the effective date of the merger or consolidation. At closing, in addition to paying all current interest due on the date of prepayment, a borrower shall prepay the RUS Notes by paying to the Government an amount equal to the lesser of the outstanding balance or the Discounted Present Value of the RUS Notes. The closing shall otherwise be conducted as prescribed in the prepayment agreement.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.