[Code of Federal Regulations]
[Title 14, Volume 5]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 14CFR1300.11]

[Page 525]
 
                     TITLE 14--AERONAUTICS AND SPACE
 
           CHAPTER VI--AIR TRANSPORTATION SYSTEM STABILIZATION
 
PART 1300_AVIATION DISASTER RELIEF_AIR CARRIER GUARANTEE LOAN PROGRAM--Table of Contents
 
        Subpart B_Minimum Requirements and Application Procedures
 
Sec.  1300.11  Eligible borrower.

    (a) An eligible borrower must be an air carrier that can 
demonstrate, to the satisfaction of the Board, that:
    (1) It has incurred (or is incurring) losses as a result of the 
terrorist attacks on the United States that occurred on September 11, 
2001, which may include losses due to the unavailability of credit or 
the decrease in demand for that air carrier's services;
    (2) It is not under bankruptcy protection or receivership when the 
application is submitted or when the Board issues the guarantee, unless 
the guarantee and the underlying financial obligation is to be part of a 
bankruptcy court-certified reorganization plan;
    (3) It has agreed to permit such audits and reviews prior to the 
issuance of a guarantee, as the Board may deem appropriate, by an 
independent auditor acceptable to the Board;
    (4) It has agreed to permit such audits and reviews during the 
period the loan is outstanding and three years after payment in full of 
the guaranteed loan, as the Board may deem appropriate, by an 
independent auditor acceptable to the Board or by the Comptroller 
General;
    (5) In conducting audits and reviews pursuant to paragraphs (a) (3) 
and (4) of this section, it has agreed to provide access to the officers 
and employees, books, records, accounts, documents, correspondence, and 
other information of the borrower, its subsidiaries, affiliates, 
financial advisers, consultants, and independent certified accountants 
that the Board or the Comptroller General consider necessary.
    (b) Status as an eligible borrower under this section does not 
ensure that the Board will issue the guarantee sought or preclude the 
Board from declining to issue a guarantee.