Conditions precedent to issuance of the Loan Note Guarantee.

CFR · 2024-01-01 · US · Title 7

(a) The lender must not close the loan until all conditions of the Conditional Commitment are met. When loan closing plans are established, the lender must notify the Agency. Coincident with, or immediately after loan closing, the lender must provide the following to the Agency: (1) An executed Form RD 4279-4, unless a valid Lender's Agreement exists that was issued after August 2, 2016; (2) Form RD 1980-19 and appropriate guarantee fee; (3) Copy of the executed promissory note(s); (4) Copy of the executed loan agreement; (5) Copy of the executed settlement statement; (6) Original, executed Forms RD 4279-14, as required; (7) Any other documents required to comply with applicable law or required by the Conditional Commitment. (8) Borrower's loan closing balance sheet, supporting paragraph (a)(9)(i) of the lender certification, demonstrating required tangible balance sheet equity; and (9) The lender's certification to each of the following certifications: (i) The capital/equity requirement was determined, based on a balance sheet prepared in accordance with GAAP, and met, as of the date the guaranteed loan was closed, giving effect to the entirety of the loan in the calculation, whether or not the loan itself is fully advanced. (ii) All requirements of the Conditional Commitment have been met. (iii) No major changes have been made in the lender's loan conditions and requirements since the issuance of the Conditional Commitment, unless such changes have been approved by the Agen

official document · source cfr-2024 · id 7:§ 4279.181