22 CFR § 231.08 - Event of Default; Application for Compensation; payment.

---
identifier: "/us/cfr/t22/s231.08"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "22 CFR § 231.08 - Event of Default; Application for Compensation; payment."
title_number: 22
title_name: "Foreign Relations"
section_number: "231.08"
section_name: "Event of Default; Application for Compensation; payment."
chapter_name: "AGENCY FOR INTERNATIONAL DEVELOPMENT"
part_number: "231"
part_name: "ARAB REPUBLIC OF EGYPT LOAN GUARANTEES ISSUED UNDER THE EMERGENCY WARTIME SUPPLEMENTAL APPROPRIATIONS ACT OF 2003, PUBLIC LAW 108-11—STANDARD TERMS AND CONDITIONS"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "Emergency Wartime Supplemental Appropriations Act, 2003, Pub. L. 108-11, chapter 5, title I, “Economic Support Fund”, para. (2)."
regulatory_source: "70 FR 56102, Sept. 23, 2005, unless otherwise noted."
cfr_part: "231"
---


# 231.08 Event of Default; Application for Compensation; payment.

At any time after an Event of Default, as this term is defined in an Eligible Note, any Noteholder hereunder, or the Fiscal Agent on behalf of a Noteholder hereunder, may file with USAID an Application for Compensation in the form provided in Appendix A to this part. USAID shall pay or cause to be paid to any such Applicant any compensation specified in such Application for Compensation that is due to the Applicant pursuant to the Guarantee as a Loss of Investment not later than three (3) Business Days after the Date of Application. In the event that USAID receives any other notice of an Event of Default, USAID may pay any compensation that is due to any Noteholder pursuant to a Guarantee, whether or not such Noteholder has filed with USAID an Application for Compensation in respect of such amount.