Page:United States Statutes at Large Volume 110 Part 4.djvu/629

 PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009 -466 relating to the extension, a covenant, warranty, or other term or condition that relates to environmental compliance; "(III) monitoring or enforcing the terms and conditions of the extension of credit or security interest; "(IV) monitoring or undertaking 1 or more inspections of the vessel or facility; "(V) requiring a response action or other lawful means of addressing the release or threatened release of a hazardous substance in connection with the vessel or facility prior to, during, or on the expiration of the term of the extension of credit; "(VI) providing financial or other advice or counseling in an effort to mitigate, prevent, or cure default or diminution in the value of the vessel or facility; "(VII) restructuring, renegotiating, or otherwise agreeing to alter the terms and conditions of the extension of credit or security interest, exercising forbearance; "(VIII) exercising other remedies that may be available under applicable law for the breach of a term or condition of the extension of credit or security agreement; or "(DC) conducting a response action under section 107(d) or under the direction of an on-scene coordinator appointed under the National Contingency Plan, if the actions do not rise to the level of participating in management (within the meaning of clauses (i) and (ii)). "(G) OTHER TERMS. — AS used in this Act: "(i) EXTENSION OF CREDIT. —The term 'extension of credit' includes a lease finance transaction— "(I) in which the lessor does not initially select the leased vessel or facility and does not during the lease term control the daily operations or maintenance of the vessel or facility; or "(II) that conforms with regulations issued by the appropriate Federal banking agency or the appropriate State bank supervisor (as those terms are defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813) or with regulations issued by the National Credit Union Administration Board, as appropriate. " (ii) FINANCIAL OR ADMINISTRATIVE FUNCTION.— The term 'financial or administrative function' includes a function such as that of a credit manager, accounts payable officer, accounts receivable officer, personnel manager, comptroller, or chief financial officer, or a similar function. "(iii) FORECLOSURE; FORECLOSE.— The terms 'foreclosure' and 'foreclose' mean, respectively, acquiring, and to acquire, a vessel or facility through—

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