C.F.R. » Title 22 » CHAPTER II—AGENCY FOR INTERNATIONAL DEVELOPMENT › PART 231—ARAB REPUBLIC OF EGYPT LOAN GUARANTEES ISSUED UNDER THE EMERGENCY WARTIME SUPPLEMENTAL APPROPRIATIONS ACT OF 2003, PUBLIC LAW 108-11—STANDARD TERMS AND CONDITIONS

22 C.F.R. § 231.11

Subrogation of USAID

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In the event of payment by USAID to a Noteholder under this Guarantee, USAID shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.