C.F.R. » Title 22 » CHAPTER II—AGENCY FOR INTERNATIONAL DEVELOPMENT › PART 239—REPUBLIC OF TUNISIA LOAN GUARANTEES ISSUED UNDER SECTION 7034(o) OF THE DEPARTMENT OF STATE, FOREIGN OPERATIONS, AND RELATED PROGRAMS APPROPRIATIONS ACT OF 2016

22 C.F.R. § 239.11

Subrogation of USAID

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In the event of payment by USAID to a Noteholder under the 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.