Page:United States Statutes at Large Volume 114 Part 1.djvu/135

 PUBLIC LAW 106-181—APR. 5, 2000 114 STAT. 99 options, or other discounts) of the aircraft, including spare parts, to be purchased with the loan or loan combination; "(C) on any loan with respect to which terms permit repayment more than 15 years after the date of execution of the loan; or "(D) that, when added to the remaining balance on any other Federal credit instruments made under this subchapter, provides more than $100,000,000 of outstanding credit to any single obligor. "(3) FEES.— The Secretary, subject to appropriations, may establish fees at a level sufficient to cover all or a portion of the administrative costs to the United States Government of making a loan guarantee under this section. The proceeds of such fees shall be deposited in an account to be used by the Secretary for the purpose of administering the program established under this subchapter and shall be available upon deposit until expended. " (d) LINES OF CREDIT.— "(1) IN GENERAL. —Subject to the requirements of this subsection, the Secretary may enter into agreements to make available lines of credit to one or more obligors in the form of direct loans to be made by the Secretary at future dates on the occurrence of certain events for any aircraft purchase selected under this section. " (2) TERMS AND LIMITATIONS. — "(A) IN GENERAL. — A line of credit under this subsection with respect to an aircraft purchase shall be on such terms and conditions and contain such covenants, representatives, warranties, and requirements (including requirements for audits) as the Secretary determines appropriate. " (B) MAXIMUM AMOUNT.— "(i) TOTAL AMOUNT.— The amount of any line of credit shall not exceed 50 percent of the purchase price (including the value of any manufacturer credits, post-purchase options, or other discounts) of the aircraft, including spare parts. "(ii) 1-YEAR DRAWS. —The amount drawn in any year shall not exceed 20 percent of the total amount of the line of credit. "(C) DRAWS.— Any draw on the line of credit shall represent a direct loan. "(D) PERIOD OF AVAILABILITY. —The line of credit shall be available not more than 5 years after the aircraft purchase date. "(E) RIGHTS OF THIRD-PARTY CREDITORS. — " (i) AGAINST UNITED STATES GOVERNMENT. —A third-party creditor of the obligor shall not have any right against the United States Government with respect to any draw on the line of credit. "(ii) ASSIGNMENT.—An obligor may assign the line of credit to one or more lenders or to a trustee on the lender's behalf. "(F) SUBORDINATION. — A direct loan under this subsection may be subordinate to claims of other holders of obligations in the event of bankruptcy, insolvency, or liquidation of the obligor as determined appropriate by the Secretary.

�