[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: 14CFR1300.2]

[Page 523-524]
 
                     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 A_General
 
Sec.  1300.2  Definitions.

    (a) Act means the Air Transportation Safety and System Stabilization 
Act, Public Law 107-42, 115 Stat. 230 (49 U.S.C. 40101 note).
    (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), monitoring, 
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) Air carrier means an air carrier as defined in 49 U.S.C. 40102.
    (e) Applicant means one or more air carriers applying for a Federal 
credit instrument issued by the Board under the program.
    (f) The Board, for purposes of any operational and decisionmaking 
functions in connection with individual loan guarantees, means the 
voting members of the Air Transportation Stabilization Board established 
under Section 102 of the Act. The voting members of the Board are the 
Chairman of the Board of Governors of the Federal Reserve System (who is 
the Chairman of the Board), the Secretary of the Treasury and the 
Secretary of Transportation, or their designees. The Comptroller 
General, who is a nonvoting member, will not participate in the review, 
operations, or deliberations of the Board in connection with individual 
loan guarantees, or otherwise participate in the Board's exercise of any 
executive power, but may provide such audit, evaluation and other 
support to the Board as the Board may request, consistent with 
applicable auditing standards.
    (g) Borrower means an ``Obligor,'' as defined in Section 102(a)(4) 
of the Act, and includes an air carrier that is primarily liable for 
payment of the principal of and interest on a Federal credit instrument, 
which party may be a corporation, partnership, joint venture, trust, or 
governmental entity, agency, or instrumentality.
    (h) Federal credit instrument, as defined in Section 107(2) of the 
Act, means any guarantee or other pledge by the Board issued under the 
program to pledge the full faith and credit of

[[Page 524]]

the United States to pay all or part of any of the principal of and 
interest on a loan issued by a borrower and funded by a lender.
    (i) Financial obligation, as defined in Section 102(a)(2) of the 
Act, means any note, bond, debenture, or other debt obligation issued by 
a borrower in connection with financing under the program.
    (j) Guarantee means the written agreement between the Board and one 
or more lenders, pursuant to which the Federal government guarantees 
repayment of a specified percentage of the principal of and/or interest 
on the loan. Unless otherwise specified, guarantee includes any other 
pledge issued under a Federal credit instrument.
    (k) Lender means any non-Federal qualified institutional buyer, as 
defined in Section 102(a)(3) of the Act, that funds a financial 
obligation subject 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.
    (l) Loan, unless otherwise specified, includes any financial 
obligation (i.e., note, bond, debenture, or other debt obligation) 
issued by a borrower.
    (m) 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. (References to loan documents also include 
comparable agreements, instruments, and documentation for other 
financial obligations for which a guarantee is requested or issued.)
    (n) Program means the air carrier guarantee loan program established 
by section 101(a)(1) and the related provisions of Title I of the Act.
    (o) Security means all property, real or personal, required by the 
provisions of the guarantee or by the loan documents to secure repayment 
of any indebtedness of the borrower under the loan documents or 
guarantee.