Page:United States Statutes at Large Volume 93.djvu/1359

 PUBLIC LAW 96-185—JAN. 7, 1980

93 STAT. 1327

(D) the amount of "cash to be obtained from the disposition of assets of the Corporation" shall be determined by the Board based on a conservative estimate of the minimum value realizable in a sale, with reference to the potential circumstances surrounding such a sale. (2) In computing the aggregate amount of at least $1,430,000,000 in nonfederally guaranteed assistance required to be provided under subsection (a)(4), there shall be excluded— (A) the extent of any contribution, concession, or other element that does not actually and substantively contribute to meeting the Corporation's financing needs as defined in the financing plan required by this section; and (B) deferral of any dividends on common or preferred stock outstanding as of October 17, 1979. (c) The aggregate amount of nonfederally guaranteed assistance of at least $1,430,000,000 required to be provided under subsection (a) shall include— (1) at least $500,000,000 from United States banks, financial institutions, and other creditors, of which— (A) at least $400,000,000 shall be new loans or credits, in addition to the extension of the full principal amount of any loans committed to be made but not outstanding as of October 17, 1979; and (B) at least $100,000,000 shall be concessions with respect to outstanding debt of the Corporation; (2) at least $150,000,000 shall be from foreign banks, financial institutions, and other creditors in the form of new loans or credits, in addition to the extension of the full principal amount of any loans committed to be made but not outstanding as of October 17, 1979; (3) at least $300,000,000 shall be from the disposition of assets of the Corporation; (4) at least $250,000,000 shall be from State, local, and other governments; (5) at least $180,000,000 shall be from suppliers and dealers, of which at least $50,000,000 shall be in the form of capital as defined in subsection (b); and (6) at least $50,000,000 shall be from the sale of additional equity securities. The Board may, as necessary, modify the amounts of assistance required to be provided by any of the categories referred to in this subsection, so long as the aggregate amount of at least $1,430,000,000 in nonfederally guaranteed assistance is provided under subsection (a)(4).

Computation of aggregate amount, exclusions.

Categories of nonfederally guaranteed assistance.

REQUIREMENTS FOR LOAN GUARANTEES

SEC. 5. (a) A loan guarantee may be issued under this Act only 15 USC 1864. pursuant to a commitment issued under section 4. The terms of any such commitment shall provide that a loan guarantee may be issued under this Act only if at the time the loan guarantee is issued, the Board determines that— (1) credit is not otherwise available to the Corporation under reasonable terms or conditions sufficient to meet its financing needs as reflected in the financing plan; (2) the prospective earning power of the Corporation, together with the character and value of the security pledged, furnish reasonable assurance of repayment of the loan to be guaranteed in accordance with its terms;

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