Request for special servicing action.

CFR · 2024-01-01 · US · Title 7

(a) Special servicing actions include, but are not limited to, one or more of the following: (1) Consent to additional, unsecured debt; (2) Parity lien; (3) Reamortization or rescheduling of debt payments; (4) Deferment of principal and/or interest; (5) Interest rate adjustment; (6) Transfer of collateral and assumption of debt; (7) Sale or exchange of loan collateral; (8) Sale of the note; and (9) Debt settlement. (b) In order for the Agency to consider one or more of the curative actions cited in paragraph (a) of this section, the Borrower must submit a written request to RUS. (1) The written request must contain the following items: (i) A detailed explanation of the request and why it is needed. (ii) Most recent audited financial statements for the Borrower. (iii) Borrower's Pro Forma 5-year financial forecast, which includes an Income Statement, Balance Sheet, and Statement of Cash Flows, 2 years of historical data, current year data and a 5-year forecast, with detailed supporting assumptions. Additionally, in order to request assistance under this paragraph (b)(1)(iii), the Borrower must make a showing that the account is delinquent and cannot be brought current within one year, or that the Borrower will become delinquent within 24 months, as demonstrated in the Pro Forma. (iv) Existing and projected subscriber numbers and service tiers, along with pricing for each tier. Additionally, for companies receiving support from the Federal Communications Commission, a detailed

official document · source cfr-2024 · id 7:§ 1752.6