---identifier: "/us/cfr/t22/s237.11"source: "ecfr"legal_status: "authoritative_unofficial"title: "22 CFR § 237.11 - Subrogation of USAID."title_number: 22title_name: "Foreign Relations"section_number: "237.11"section_name: "Subrogation of USAID."chapter_name: "AGENCY FOR INTERNATIONAL DEVELOPMENT"part_number: "237"part_name: "UKRAINE LOAN GUARANTEES ISSUED UNDER THE DEPARTMENT OF STATE, FOREIGN OPERATIONS, AND RELATED PROGRAMS APPROPRIATIONS ACT OF 2015, AND THE SUPPORT FOR THE SOVEREIGNTY, INTEGRITY, DEMOCRACY, AND ECONOMIC STABILITY OF UKRAINE ACT OF 2014—STANDARD TERMS AND CONDITIONS"positive_law: falsecurrency: "2026-04-05"last_updated: "2026-04-05"format_version: "1.1.0"generator: "[email protected]"authority: "Title III of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (Div. J, Pub. L. 113-235); and the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014 (Pub. L. 113-95)."regulatory_source: "80 FR 22642, Apr. 23, 2015, unless otherwise noted."cfr_part: "237"---
Identifier
/us/cfr/t22/s237.11
Currency
2026-04-05
Positive Law
No
Updated
2026-04-05
Chapter
Agency for International Development
Authority
Title III of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (Div. J, Pub. L. 113-235); and the Support for the Sovereignty, Integrity, Democracy, and Econom... Title III of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2015 (Div. J, Pub. L. 113-235); and the Support for the Sovereignty, Integrity, Democracy, and Economic Stability of Ukraine Act of 2014 (Pub. L. 113-95).
# 237.11 Subrogation of USAID.In the event of payment by USAID to a Noteholder under this Guarantee, USAID shall be subrogated to the extent of such payment to all of the rights of such Noteholder against the Borrower under the related Note.