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Ministerial loan guarantee manual : Ministerial loan guarantee manual 2011

23 Mar 2012

Documentation supporting this confirmation must be retained by the First Nation for the life of the MLG; g) That the land of the project site is unencumbered and is under the control of the First Nation; h) That the First Nation also agrees that AANDC will recover from the First Nation the amounts paid on a defaulted loan plus interest from the date of payment to the Minister. [...] In addition to the above criteria, if the First Nation is acting on behalf of an applicant, the First Nation BCR (or equivalent authorizing document) must also confirm a) That they have obtained the written consent of the applicant; and b) That the land of the project site is unencumbered and is under the control of the First Nation or the applicant. [...] In the event a borrower wishes to transfer the loan to another lender, the Loan Agreement and the Guarantee Agreement will be assigned to the new lender, provided that the new lender will, within 60 days of receiving the loan, provide AANDC with a written notification, indicating: a) The name and address of the new lender; b) The Guarantee certificate number; c) The term start date and term end da [...] The BCR shall also provide AANDC with a waiver to the application of s.89 of the Indian Act with respect to the First Nation’s assets, other than land; and Certification that the land of the project site is not encumbered and is under the control of the First Nation. [...] Step 7: The Lender signs the Guarantee Agreement Step 7: The regional officer responsible for MLGs sends the 2 original The lender copies of the Guarantee Agreement to the lender; and signs the Guarantee The lender signs and returns both copies to the regional officer Agreement.
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Pages
50
Published in
Gatineau, Quebec

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