[Code of Federal Regulations]
[Title 13, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 13CFR500.2]

[Page 677-678]
 
                TITLE 13--BUSINESS CREDIT AND ASSISTANCE
 
         CHAPTER V--EMERGENCY OIL AND GAS GUARANTEED LOAN BOARD
 
PART 500_EMERGENCY OIL AND GAS GUARANTEED LOAN PROGRAM--Table of Contents
 
                            Subpart A_General
 
Sec.  500.2  Definitions.

    (a) Act means the Emergency Oil and Gas Guaranteed Loan Program Act, 
Chapter 2 of Public Law 106-51.
    (b) Administer, administering and administration, mean the Lender's 
actions in making, disbursing, servicing (including, but not limited to 
care, preservation and maintenance of collateral), collecting and 
liquidating a loan and security.
    (c) Agent means that Lender authorized to take such actions, 
exercise such powers, and perform such duties on behalf and in 
representation of all Lenders party to a Guarantee of a single loan, as 
is required by, or necessarily incidental to, the terms and conditions 
of the Guarantee.
    (d) Applicant means the private banking or investment institution 
applying for a loan guarantee under this part.
    (e) Board means the Emergency Oil and Gas Guaranteed Loan Board.
    (f) Borrower means a Qualified Oil and Gas Company which could 
receive a loan guaranteed by the Board under this Program.
    (g) Guarantee means the written agreement between the Board and one 
or more Lenders, and approved by the Borrower, pursuant to which the 
Board guarantees repayment of a specified percentage of the principal of 
the loan, including the Special Terms and Conditions, the General Terms 
and Conditions, and all exhibits thereto.
    (h) Lender means a private banking or investment institution, 
eligible under Sec.  500.201, that is a party to a Guarantee issued by 
the Board. With respect to a Guarantee of a single loan to which more 
than one Lender is a party, the term Lender means Agent.
    (i) Loan Documents mean the loan agreement and all other 
instruments, and all documentation between the Lender and the Borrower 
evidencing the making, disbursing, securing, collecting, or otherwise 
administering of the loan.
    (j) Program means the Emergency Oil and Gas Guaranteed Loan Program 
established by the Act.
    (k) Security means all property, real or personal, required by the 
provisions

[[Page 678]]

of the Guarantee or by the Loan Documents to secure repayment of any 
indebtedness of the Borrower under the Loan Documents or Guarantee.
    (l) Qualified Oil and Gas Company means any company that: (A) is (i) 
an independent oil and gas company (within the meaning of section 
57(a)(2)(B)(i) of the Internal Revenue Code of 1986) or; (ii) a small 
business concern under section 3 of the Small Business Act, 15 U.S.C. 
632, (or a company based in Alaska, including an Alaska Native 
Corporation created pursuant to the Alaska Native Claims Settlement Act, 
43 U.S.C. 1601 et seq.) that is an oil field service company whose main 
business is providing tools, products, personnel, and technical 
solutions on a contractual basis to exploration and production operators 
that drill, complete wells, and produce, transport, refine, and sell 
hydrocarbons and their byproducts as the main commercial business of the 
concern or company; and (B) has experienced layoffs, production losses, 
or financial losses since January 1997.

[64 FR 57947, Oct. 27, 1999, as amended at 65 FR 24106, Apr. 25, 2000]