Conditions affecting issuers of Preferred Securities and/or Participating Securities.

CFR · 2024-01-01 · US · Title 13

(a) (b) (1) (i) You are not considered to have a condition of extreme Capital Impairment during the first eight years following your first issuance of Participating Securities. (ii) This paragraph (b)(1) does not give you an additional opportunity to cure if you have already had an opportunity to cure your Capital Impairment under paragraph (e)(3) of this section. (2) (3) (4) (5) (6) (c) (1) (2) (3) (d) (1) With respect to a Corporate Licensee, upon written notice, to require (2) With respect to a Partnership Licensee, upon written notice, to require you to remove the person(s) responsible for such occurrence and/or to remove your general partner, who shall then be replaced in accordance with your Articles by a new general partner approved by SBA; and/or (3) With respect to either a Corporate or Partnership Licensee, to the appointment of SBA or its designee as your receiver under section 311(c) of the Act for the purpose of continuing your operations. The appointment of a receiver to liquidate a Licensee is not within such consent, but is governed instead by the relevant provisions of the Act. (e) (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) (11) (f) (1) To prohibit you from making any additional investments except for investments under legally binding commitments you entered into before such notice and, subject to SBA's prior written approval, investments that are necessary to protect your investments; (2) Until all Leverage is redeemed and amounts due are paid, to prohibit Dis

official document · source cfr-2024 · id 13:§ 107.1820