cfr_sections
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19 rows where part_number = 609 and title_number = 10 sorted by section_id
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| section_id ▼ | title_number | title_name | chapter | subchapter | part_number | part_name | subpart | subpart_name | section_number | section_heading | agency | authority | source_citation | amendment_citations | full_text |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10:10:5.0.1.3.14.0.1.1 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.1 Purpose and scope. | DOE | (a) This part sets forth the policies and procedures that DOE uses for receiving, evaluating, and approving applications for loan guarantees to support Eligible Projects under Title XVII, including sections 1703 and 1706, of the Energy Policy Act of 2005. (b) This part applies to all Applications, Conditional Commitments, and Loan Guarantee Agreements. (c) Section 600.22 of title 10 of the Code of Federal Regulations shall not apply to actions taken under this part. | ||||||
| 10:10:5.0.1.3.14.0.1.10 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.10 Project costs. | DOE | [88 FR 34428, May 30, 2023, as amended at 90 FR 48710, Oct. 28, 2025] | (a) The Project Costs of an Eligible Project are those costs, including escalation and contingencies, that are expended or accrued by a Borrower and are necessary, reasonable, customary, and directly related to the design, engineering, financing, construction, startup, commissioning, and shakedown of an Eligible Project. (b) Project Costs include: (1) Costs of acquisition, lease, or rental of real property, including engineering fees, surveys, title insurance, recording fees, and legal fees incurred in connection with land acquisition, lease or rental, site improvements, site restoration, access roads, and fencing; (2) Costs of engineering, architectural, legal and bond fees, and insurance paid in connection with construction of the facility; (3) Costs of equipment purchases, including a reasonable reserve of spare parts to the extent required; (4) Costs to provide facilities and services related to safety and environmental protection; (5) Transaction Costs; (6) Costs of necessary and appropriate insurance and bonds of all types including letters of credit and any collateral required therefor; (7) Costs of design, engineering, startup, commissioning, and shakedown; (8) Costs of obtaining licenses to intellectual property necessary to design, construct, and operate the Eligible Project; (9) To the extent required by the Loan Guarantee Agreement and not intended or available for any cost referred to in paragraph (d) of this section, costs of funding any reserve fund, including without limitation, a debt service reserve, a maintenance reserve, and a contingency reserve for cost overruns during construction; provided that proceeds of a Guaranteed Obligation deposited to any reserve fund shall not be removed from such fund except to pay Project Costs, to pay principal of the Guaranteed Obligation, or otherwise to be used as provided in the Loan Guarantee Agreement; (10) Capitalized interest necessary to meet market requirements and other carrying costs during construction; (11) In DOE's sole discretion, th… | |||||
| 10:10:5.0.1.3.14.0.1.11 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.11 Transaction costs. | DOE | (a) Upon making a determination to engage independent consultants or outside counsel with respect to an Application, DOE will proceed to evaluate and process such Application only following execution by an Applicant or Project Sponsor, as appropriate, of an agreement satisfactory to DOE to pay the Transaction Costs charged by the independent consultants and outside legal counsel. Each Applicant, Borrower, or Project Sponsor, as applicable, shall be responsible for the payment of Transaction Costs associated with DOE's independent consultants and outside legal counsel in connection with an Application, Conditional Commitment, or Loan Guarantee Agreement, as applicable. Appropriate provisions regarding payment of such Transaction Costs shall also be included in each Term Sheet and Loan Guarantee Agreement or, upon a determination by DOE, in other appropriate agreements. (b) Notwithstanding payment by Applicant, Borrower, or Project Sponsor, all services rendered by an independent consultant or outside legal counsel to DOE in connection with an Application, Conditional Commitment, or Loan Guarantee Agreement shall be solely for the benefit of DOE (and such other creditors as DOE may agree in writing). DOE may require, in its discretion, the payment of an advance retainer to such independent consultants or outside legal counsel as security for the collection of the fees and expenses charged by the independent consultants and outside legal counsel. In the event an Applicant, Borrower, or Project Sponsor fails to comply with the provisions of such payment agreement, DOE in its discretion, may stop work on or terminate an Application, a Conditional Commitment, or a Loan Guarantee Agreement, or may take such other remedial measures in its discretion as it deems appropriate. (c) DOE shall not be financially liable under any circumstances to any independent consultant or outside counsel for services rendered in connection with an Application, Conditional Commitment, or Loan Guarantee Agreement except to the extent DOE ha… | ||||||
| 10:10:5.0.1.3.14.0.1.12 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.12 Credit ratings. | DOE | (a) Where conditions justify, in the sole discretion of the Secretary, DOE may require that an Applicant submit a preliminary credit assessment for the proposed project, reflecting the project without a Guarantee, from a nationally recognized statistical ratings organization. (b) Where conditions justify, in the sole discretion of the Secretary, DOE may require that an Applicant provide a credit rating for the proposed project, and subsequently provide updated ratings, from a nationally recognized statistical ratings organization. | ||||||
| 10:10:5.0.1.3.14.0.1.13 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.13 Fees and charges. | DOE | (a) Unless explicitly authorized by statute, no funds obtained from the Federal Government, or from a loan or other instrument guaranteed by the Federal Government, may be used to pay for the Credit Subsidy Cost, the Facility Fee, the Maintenance Fee, and any other fees charged by or paid to DOE relating to Title XVII or any Guarantee thereunder. An Applicant may, at any time, use non-Federal monies to pay the Credit Subsidy Cost or DOE fees. (b) DOE may charge Applicants a non-refundable Facility Fee, payable on the closing date for the Loan Guarantee Agreement. (c) In order to encourage and supplement private lending activity DOE may collect from Borrowers for deposit in the United States Treasury a non-refundable Risk-Based Charge which, together with the interest rate on the Guaranteed Obligation that LPO determines to be appropriate, will take into account the prevailing rate of interest in the private sector for similar loans and risks. The Risk-Based Charge shall be paid at such times and in such manner as may be determined by DOE, but no less frequently than once each year, commencing with payment of a pro-rated payment on the date the Guarantee is issued. The amount of the Risk-Based Charge will be specified in the Loan Guarantee Agreement. (d) DOE may collect a Maintenance Fee as set forth in the Loan Guarantee Agreement. The Maintenance Fee shall accrue from the date of execution of the Loan Guarantee Agreement through the date of payment in full of the related Guaranteed Obligations. If DOE determines to collect a Maintenance Fee, it shall be paid by the Borrower each year (or portion thereof) in advance in the amount specified in the applicable Loan Guarantee Agreement. (e) In the event a Borrower or an Eligible Project experiences difficulty relating to technical, financial, or legal matters or other events ( e.g., engineering failure or financial workouts), the Borrower shall be liable as follows: (1) If such difficulty requires DOE to incur time or expenses beyond those customarily expended … | ||||||
| 10:10:5.0.1.3.14.0.1.14 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.14 Full faith and credit and incontestability. | DOE | The full faith and credit of the United States is pledged to the payment of principal and interest of Guaranteed Obligations pursuant to Guarantees issued in accordance with Title XVII and this part. The issuance by DOE of a Guarantee shall be conclusive evidence that it has been properly obtained; that the underlying loan qualified for such Guarantee; and that, but for fraud or material misrepresentation by the Holder, except when the Holder is the Federal Financing Bank, such Guarantee shall be legal, valid, binding, and enforceable against DOE in accordance with its terms. | ||||||
| 10:10:5.0.1.3.14.0.1.15 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.15 Default, demand, payment, and foreclosure on collateral. | DOE | (a) If a Borrower defaults in making a required payment of principal or interest on a Guaranteed Obligation and such default has not been cured within the applicable grace period, the Holder may make written demand for payment upon the Secretary in accordance with the terms of the applicable Guarantee. If a Borrower defaults in making a required payment of principal or interest on a Guaranteed Obligation and such default has not been cured within the applicable grace period, the Secretary shall notify the Attorney General. (b) Subject to the terms of the applicable Guarantee, the Secretary shall make payment within 60 days after receipt of written demand for payment from the Holder, provided that the demand for payment complies in all respects with the terms of the applicable Guarantee. Interest shall accrue to the Holder at the rate stated in the promissory note evidencing the Guaranteed Obligation, without giving effect to the Borrower's default in making a required payment of principal or interest on the applicable Guarantee Obligation or any other default by the Borrower, until the Guaranteed Obligation has been fully paid by DOE. Payment by the Secretary on the applicable Guarantee does not change Borrower's obligations under the promissory note evidencing the Guaranteed Obligation, Loan Guarantee Agreement, Loan Agreement, or related documents, including an obligation to pay default interest. (c) Following payment by the Secretary pursuant to the applicable Guarantee, upon demand by DOE, the Holder shall transfer and assign to the Secretary (or his or her designee or agent) the promissory note evidencing the Guaranteed Obligation, all rights and interests of the Holder in the Guaranteed Obligation, and all rights and interests of the Holder in respect of the Guaranteed Obligation, except to the extent that the Secretary determines that such promissory note or any of such rights and interests shall not be transferred and assigned to the Secretary. Such transfer and assignment shall include, without limitat… | ||||||
| 10:10:5.0.1.3.14.0.1.16 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.16 Preservation of collateral. | DOE | (a) If the Secretary exercises his or her right under the Loan Guarantee Agreement to require the holder of pledged collateral to take such actions as the Secretary (subject to any applicable Intercreditor Agreement) may reasonably require to provide for the care, preservation, protection, and maintenance of such collateral so as to enable the United States to achieve maximum recovery from the collateral, the Secretary shall, subject to compliance with the Antideficiency Act, 31 U.S.C. 1341 et seq., reimburse the holder of such collateral for reasonable and appropriate expenses incurred in taking actions required by the Secretary (unless otherwise provided in applicable agreements). Except as provided in § 609.15, no party may waive or relinquish, without the consent of the Secretary, any such collateral to which the United States would be subrogated upon payment under the Loan Guarantee Agreement. (b) In the event of a default, the Secretary may enter into such contracts as he determines are required or appropriate, taking into account the term of any applicable Intercreditor Agreement, to care for, preserve, protect or maintain collateral pledged in respect of Guaranteed Obligations. The cost of such contracts may be charged to the Borrower. | ||||||
| 10:10:5.0.1.3.14.0.1.17 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.17 Audit and access to records. | DOE | Each Loan Guarantee Agreement and related documents shall provide that: (a) The Eligible Lender, or DOE in conjunction with the Federal Financing Bank where loans are funded by the Federal Financing Bank or other Holder or other party servicing the Guaranteed Obligations, as applicable, and the Borrower, shall keep such records concerning the Eligible Project as are necessary, including the Application, Term Sheet, Conditional Commitment, Loan Guarantee Agreement, Credit Agreement, mortgage, note, disbursement requests and supporting documentation, financial statements, audit reports of independent accounting firms, lists of all Eligible Project assets and non-Eligible Project assets pledged in respect of the Guaranteed Obligations, all off-take and other revenue producing agreements, documentation for all Eligible Project indebtedness, income tax returns, technology agreements, documentation for all permits and regulatory approvals, and all other documents and records relating to the Borrower or the Eligible Project, as determined by the Secretary, to facilitate an effective audit and performance evaluation of the Eligible Project; and (b) The Secretary and the Comptroller General, or their duly authorized representatives, shall have access, for the purpose of audit and examination, to any pertinent books, documents, papers, and records of the Borrower, Eligible Lender, or DOE or other Holder or other party servicing the Guaranteed Obligation, as applicable. Such inspection may be made during regular office hours of the Borrower, Eligible Lender, DOE or other Holder, or other party servicing the Eligible Project and the Guaranteed Obligations, as applicable, or at any other time mutually convenient. | ||||||
| 10:10:5.0.1.3.14.0.1.18 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.18 Deviations. | DOE | (a) Subject to the requirements of Title XVII and as otherwise permitted by applicable law, the Secretary may authorize deviations from the requirements of this part upon: (1) Either receipt from the Applicant, Borrower, or Project Sponsor, as applicable, of— (i) A written request that the Secretary deviate from one or more requirements; and (ii) A supporting statement briefly describing one or more justifications for such deviation; or (iii) A determination by the Secretary in his or her discretion to undertake a deviation; (2) A finding by the Secretary that such deviation supports program objectives and the special circumstances stated in the request make such deviation clearly in the best interest of the Government; and (3) If the waiver would constitute a substantial change in the financial terms of the Loan Guarantee Agreement and related documents, DOE's consultation with OMB and the Secretary of the Treasury. (b) If a deviation under this section results in an increase in the applicable Credit Subsidy Cost, such increase shall be funded either by additional fees paid by the Borrower or on behalf of the Borrower by any third party or, if an appropriation is available, by means of an appropriations act. The Secretary has discretion to determine how the cost of a deviation is funded. | ||||||
| 10:10:5.0.1.3.14.0.1.19 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.19 Title XVII loan guarantee program guidance. | DOE | (a) Invitations for the submission of Applications for loan guarantees for Eligible Projects shall be published on DOE's Title XVII Loan Guarantee Program website. The Title XVII Loan Guarantee Program website shall contain guidance for potential Title XVII Applicants and solicit applications for a Guarantee. (b) The Title XVII Loan Guarantee Program website must include, at a minimum, the following guidance: (1) The dollar amount of loan guarantee authority potentially being made available by DOE for Guarantees under Title XVII; (2) The method and further instructions for submission of Applications; (3) The name and address of the DOE representative whom a potential Applicant may contact to receive further information; (4) The programmatic, technical, financial, and other factors and criteria that DOE will use to evaluate Applications, including but not limited to consideration of the Reasonable Prospect of Repayment, the amount of Equity provided, and the reliance on other Federal assistance; (5) The required contents of the Application, which may vary by category of Eligible Project; and (6) Such other information as DOE may deem appropriate. (c) Using procedures as may be announced by DOE, a potential Applicant may request a meeting with DOE to discuss its potential Application. At its discretion, DOE may meet with a potential Applicant, either in person or electronically, to discuss its potential Application. DOE's responses to questions from potential Applicants and DOE's statements to potential Applicants, including any initial thoughts on the eligibility of the project, are pre-decisional and preliminary in nature. Any such responses and statements are subject in their entirety to any final action by DOE with respect to an Application submitted in accordance with § 609.4. | ||||||
| 10:10:5.0.1.3.14.0.1.2 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.2 Definitions. | DOE | [88 FR 34428, May 30, 2023, as amended at 90 FR 48710, Oct. 28, 2025] | When used in this part the following words have the following meanings. Administrative Cost of a Loan Guarantee means (1) The total of all administrative expenses that DOE incurs during: (i) The evaluation of an Application for a Guarantee; (ii) The negotiation and offer of a Term Sheet; (iii) The negotiation of a Loan Guarantee Agreement and related documents, including the issuance of a Guarantee; and (iv) The servicing and monitoring of a Loan Guarantee Agreement, including during the construction, startup, commissioning, shakedown, and operational phases of an Eligible Project. (2) The Administrative Cost of a Loan Guarantee does not include Transaction Costs. Applicant means a prospective Borrower, Project Sponsor, or Eligible Lender that submits an Application to DOE. Application means a submission of written materials to DOE completed in accordance with the applicable requirements published by DOE in guidance on the Title XVII website. Attorney General means the Attorney General of the United States. Borrower means any Person that enters into a Loan Guarantee Agreement with DOE and issues or otherwise becomes obligated for the Guaranteed Obligations. Cargo Preference Act means the Cargo Preference Act of 1954, 46 U.S.C. 55305, as amended. Commercial Technology means a technology in general use in the commercial marketplace in the United States at the time the Term Sheet is offered by DOE. A technology is in general use if it is being used in three or more facilities that are in commercial operation in the United States for the same general purpose as the proposed project, and has been used in each such facility for a period of at least five years. The five-year period for each facility shall start on the in-service date of the facility employing that particular technology or, in the case of a retrofit of a facility to employ a particular technology, the date the facility resumes commercial operation following completion and testing of the retrofit. For purposes of this section, faciliti… | |||||
| 10:10:5.0.1.3.14.0.1.3 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.3 Title XVII eligible projects. | DOE | [88 FR 34428, May 30, 2023, as amended at 90 FR 48710, Oct. 28, 2025] | (a)(1) DOE is authorized to provide loan Guarantees for certain categories of projects under Title XVII including: (i) Innovative Energy Projects under section 1703 of Title XVII; (ii) Innovative Supply Chain Projects under section 1703 of Title XVII; (iii) State Energy Financing Institution Projects under section 1703 of Title XVII; and (iv) Energy Dominance Financing Projects under section 1706 of Title XVII. (2) A Project meeting the applicable eligibility requirements set forth herein constitutes an “Eligible Project” under Title XVII. (b) An eligible Innovative Energy Project is a project that: (1) Falls within a category set forth in section 1703(b) of Title XVII; (2) Is located in the United States; (3) Is at one location, except that the project may be located at two or more locations if the project is comprised of installations or facilities employing a single New or Significantly Improved Technology that is deployed pursuant to an integrated and comprehensive business plan. An Innovative Energy Project located in more than one location is a single Eligible Project; (4) Deploys a New or Significantly Improved Technology; and (5) Avoids, reduces, utilizes, or sequesters air pollutants or anthropogenic emissions of greenhouse gases. (c) An eligible Innovative Supply Chain Project is a project that: (1) Manufactures a product with an end-use set forth in section 1703(b) of Title XVII; (2) Is located in the United States; (3) Is at one location, except that the project may be located at two or more locations if the project is comprised of installations or facilities employing a single New or Significantly Improved Technology that is deployed pursuant to an integrated and comprehensive business plan. An Innovative Supply Chain Project located in more than one location is a single Eligible Project; (4) Either: (i) Deploys a New or Significantly Improved Technology in the manufacturing process; or (ii) Manufactures a product that represents a New or Significantly Improved Technology; and (5) … | |||||
| 10:10:5.0.1.3.14.0.1.4 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.4 Submission of applications. | DOE | (a) DOE may direct that Applications be submitted in more than one part; provided, that the parts of such Application, taken as a whole, contain such information published by DOE in guidance on the Title XVII Loan Guarantee Program website pursuant to § 609.19. In such event, subsequent parts of an Application may be filed only after DOE invites an Applicant to make an additional submission. If DOE directs that Applications be submitted in more than one part, the initial part of an Application shall contain information sufficient for DOE to determine that the project proposed by an Applicant will be, or may reasonably become, an Eligible Project, and to evaluate such project's readiness to proceed. If there have been any material amendments, modifications, or additions made to the information previously submitted by an Applicant, the Applicant shall provide a detailed description thereof, including any changes in the proposed project's financing structure or other terms, promptly upon request by DOE. (b) An Applicant may submit Applications for multiple proposed projects and for projects using different technologies; provided that an Applicant for an Innovative Energy Project or Innovative Supply Chain Project may not submit an Application or Applications for multiple Innovative Energy Projects or multiple Innovative Supply Chain Projects using the same technology. For purposes of this paragraph (b), the term “Applicant” shall include the Project Sponsor and any subsidiaries or affiliates of the Project Sponsor. (c) DOE has no obligation to evaluate an Application that is not complete, and may proceed with such evaluation, or a partial evaluation, only in its discretion. DOE will not design an Eligible Project for Applicants, but may respond, in its discretion, in general terms to specific proposals. DOE's response to questions from potential Applicants are pre-decisional and preliminary in nature. (d) Unless an Applicant requests an extension and such an extension is granted by DOE in its discretion, an Appli… | ||||||
| 10:10:5.0.1.3.14.0.1.5 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.5 Evaluation of applications. | DOE | [88 FR 34428, May 30, 2023, as amended at 90 FR 48710, Oct. 28, 2025] | (a) Applications will be considered in a merit-based review process, considering such factors determined and published by DOE in guidance on its Title XVII Loan Guarantee Program website pursuant to § 609.19. At any time, DOE may request additional information or supporting documentation from an Applicant. (b) Applications will be denied if: (1) The proposed project is not an Eligible Project; (2) With respect to applications for Innovative Energy Projects and Innovative Supply Chain Projects, the applicable technology is not ready to be deployed commercially in the United States, cannot yield a commercially viable product or service in the use proposed in the Application, does not have the potential to be deployed in other commercial projects in the United States, or is not or will not be available for further commercial use in the United States; (3) The Person proposed to issue the loan or purchase other debt obligations constituting the Guaranteed Obligations is not an Eligible Lender; (4) The proposed project is for demonstration, research, or development; (5) Significant Equity for the proposed project will not be provided by the date of issuance of the Guaranteed Obligations, or such later time as DOE in its discretion may determine; (6) The proposed project does not present a Reasonable Prospect of Repayment of the Guaranteed Obligations; (7) With respect to applications for Energy Dominance Financing Projects, where the Applicant is an electric utility, such application fails to include an assurance that Applicant will pass on the financial benefit from the Guarantee to the customers of, or associated communities served by, the electric utility; or (8) The Applicant or Project Sponsor does not satisfy DOE's “know your customer” requirements. (c) If an Application has not been denied pursuant to paragraph (b) of this section, DOE will evaluate the proposed project based on the criteria published by DOE in guidance on its Title XVII Loan Guarantee Program website pursuant to § 609.19. (d) After D… | |||||
| 10:10:5.0.1.3.14.0.1.6 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.6 Term sheets and conditional commitments. | DOE | (a) DOE, after negotiation of a Term Sheet with an Applicant, may offer such Term Sheet to an Applicant or such other Person that is an affiliate of the Applicant and that is acceptable to DOE. DOE's offer of a Term Sheet shall be in writing and signed by the Contracting Officer. DOE's negotiation of a Term Sheet imposes no obligation on the Secretary to offer a Term Sheet to the Applicant. (b) DOE shall terminate its negotiations of a Term Sheet if it has not offered a Term Sheet in respect of an Eligible Project within two years after the date of the written notification set forth in § 609.5(d), unless extended in writing by DOE. (c) If and when the offeree specified in a Term Sheet satisfies all terms and conditions for acceptance of the Term Sheet, including written acceptance thereof, the Term Sheet shall become a Conditional Commitment. Each Conditional Commitment shall include an expiration date no more than two years from the date it is issued, unless extended in writing in the discretion of the Contracting Officer. When and if all of the terms and conditions specified in the Conditional Commitment have been met, DOE and the Applicant may enter into a Loan Guarantee Agreement. If applicable, the Conditional Commitment shall include the terms and conditions pursuant to which any Credit Subsidy Cost payment made by the Borrower to the Secretary is subject to refund to the Borrower in the event that the closing date of the Loan Guarantee Agreement does not occur. (d) Prior to or on the date of the Conditional Commitment, DOE will ensure that: (1) OMB has reviewed and approved DOE's calculation of the Credit Subsidy Cost of the Guarantee; (2) One of the following has occurred: (i) Appropriated funds for the Credit Subsidy Cost are available; (ii) The Secretary has received from the Borrower payment in full for the Credit Subsidy Cost and deposited the payment into the Treasury; or (iii) A combination of one or more appropriations under paragraph (d)(2)(i) of this section and one or more payments from … | ||||||
| 10:10:5.0.1.3.14.0.1.7 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.7 Closing on the loan guarantee agreement. | DOE | (a) Subsequent to entering into a Conditional Commitment with an Applicant, DOE, after consultation with the Applicant, will set a closing date for execution of a Loan Guarantee Agreement. (b) Prior to or on the closing date of a Loan Guarantee Agreement DOE will ensure that: (1) Pursuant to section 1702(h) of Title XVII, DOE will receive from the Applicant the Facility Fee referred to in § 609.13(b) on the closing date; (2) The Department of the Treasury has been consulted as to the terms and conditions of the Loan Guarantee Agreement. (2) The Loan Guarantee Agreement and related documents contain all terms and conditions DOE deems reasonable and necessary to protect the interest of the United States; (3) Each holder of the Guaranteed Obligations is an Eligible Lender, and the servicer of the Guaranteed Obligations meets the servicing performance requirements of § 609.9(b); (4) DOE has determined the principal amount of the Guaranteed Obligations expected to be issued in respect of the Eligible Project, as estimated at the time of issuance, will not exceed 80 percent of the Project Costs of the Eligible Project; (5) DOE has completed all necessary reviews under the National Environmental Policy Act of 1969; and (6) All conditions precedent specified in the Conditional Commitment are either satisfied or waived in writing by the Contracting Officer. If the counterparty to the Conditional Commitment has not satisfied all such terms and conditions on or prior to the closing date of the Loan Guarantee Agreement, DOE may, in its discretion, set a new closing date, or terminate the Conditional Commitment. | ||||||
| 10:10:5.0.1.3.14.0.1.8 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.8 Loan guarantee agreement. | DOE | [88 FR 34428, May 30, 2023, as amended at 90 FR 48710, Oct. 28, 2025] | (a) Only a Loan Guarantee Agreement executed by the Contracting Officer can obligate DOE to issue a Guarantee in respect of Guaranteed Obligations. DOE is not bound by oral representations. (b) Each Loan Guarantee Agreement shall contain the following requirements and conditions, and shall not be executed until the Contracting Officer determines that the following requirements and conditions are satisfied: (1) The Federal Financing Bank shall be the only Eligible Lender in transactions where DOE guarantees 100 percent (but not less than 100 percent) of the principal and interest of the Guaranteed Obligations issued under a Loan Guarantee Agreement. Where DOE guarantees 90 percent or less of the Guaranteed Obligation, the guaranteed portion may be separated from or “stripped” from the non-guaranteed portion of the Guaranteed Obligation, if the loan is participated, syndicated or otherwise resold in the secondary debt market. (2) The Borrower shall be obligated to make full repayment of the principal and interest on the Guaranteed Obligations and other debt of a Borrower over a period not to exceed: (i) In the case of an Innovative Energy Project, an Innovative Supply Chain Project, or a State Energy Financing Institution Project, the lesser of 30 years or 90 percent of the projected useful life of the Eligible Project's major physical assets, as calculated in accordance with U.S. generally accepted accounting principles and practices; and (ii) In the case of an Energy Dominance Financing Project, 30 years. (3) If any financing or credit arrangement of the Borrower or relating to the Eligible Project, other than the Guaranteed Obligations, has an amortization period shorter than that of the Guaranteed Obligations, DOE shall have determined that the resulting financing structure allocates to DOE a reasonably proportionate share of the default risk, in light of: (i) DOE's share of the total debt financing of the Borrower; (ii) Risk allocation among the credit providers to the Borrower; and (iii) Internal and… | |||||
| 10:10:5.0.1.3.14.0.1.9 | 10 | Energy | II | H | 609 | PART 609—LOAN GUARANTEES FOR CLEAN ENERGY PROJECTS | § 609.9 Lender servicing requirements. | DOE | (a) When reviewing and evaluating a proposed Eligible Project, all Eligible Lenders (other than the Federal Financing Bank) shall at all times exercise the level of care and diligence that a reasonable and prudent lender would exercise when reviewing, evaluating, and disbursing a loan made by it without a Federal guarantee. (b) Loan servicing duties shall be performed by an Eligible Lender, DOE, or another qualified loan servicer approved by DOE. When performing its servicing duties, the loan servicer shall at all times exercise the level of care and diligence that a reasonable and prudent lender would exercise when servicing a loan made without a Federal guarantee, including: (1) During the construction period, monitoring the satisfaction of all of the conditions precedent to all loan disbursements, as provided in the Loan Guarantee Agreement, Loan Agreement, or related documents; (2) During the operational phase, monitoring and servicing the Guaranteed Obligations and collection of the outstanding principal and accrued interest as well as undertaking to ensure that the collateral package securing the Guaranteed Obligations remains uncompromised; and (3) Until the Guaranteed Obligations have been repaid, providing annual or more frequent financial and other reports on the status and condition of the Guaranteed Obligations and the Eligible Project, and promptly notifying DOE if it becomes aware of any problems or irregularities concerning the Eligible Project or the ability of the Borrower to make payment on the Guaranteed Obligations or its other debt obligations. |
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CREATE TABLE cfr_sections (
section_id TEXT PRIMARY KEY,
title_number INTEGER,
title_name TEXT,
chapter TEXT,
subchapter TEXT,
part_number TEXT,
part_name TEXT,
subpart TEXT,
subpart_name TEXT,
section_number TEXT,
section_heading TEXT,
agency TEXT,
authority TEXT,
source_citation TEXT,
amendment_citations TEXT,
full_text TEXT
);
CREATE INDEX idx_cfr_title ON cfr_sections(title_number);
CREATE INDEX idx_cfr_part ON cfr_sections(part_number);
CREATE INDEX idx_cfr_agency ON cfr_sections(agency);