limited buydown

(8) Limited buydown .— The term “limited buydown” means, subject to the conditions described in section 603(b)(4)(C), a buydown of the interest rate by the obligor if the interest rate has increased between— (A) (i) the date on which a project application acceptable to the Secretary is submitted; or (ii) the date on which the Secretary entered into a master credit agreement; and (B) the date on which the Secretary executes the Federal credit instrument.

Source

23 USC § 601(a)(8)

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Scoping language

None identified, default scope is assumed to be the parent (chapter 6) of this section.

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