22 CFR § 240.11 - Subrogation of USAID.

---
identifier: "/us/cfr/t22/s240.11"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "22 CFR § 240.11 - Subrogation of USAID."
title_number: 22
title_name: "Foreign Relations"
section_number: "240.11"
section_name: "Subrogation of USAID."
chapter_name: "AGENCY FOR INTERNATIONAL DEVELOPMENT"
part_number: "240"
part_name: "SOVEREIGN LOAN GUARANTEE—STANDARD TERMS AND CONDITIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "Section 7034(o)(1) of the Department of State, Foreign Operations, and Related Programs Appropriations Act, 2016 (Div. K, Pub. L. 114-113)."
regulatory_source: "81 FR 65281, Sept. 22, 2016, unless otherwise noted."
cfr_part: "240"
---


# 240.11 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.