114 STAT. 98 PUBLIC LAW 106-181—APR. 5, 2000 Deadline. "(i) that extends to more than 50 percent of the purchase price (including the value of any manufacturer credits, post-purchase options, or other discounts) of the aircraft, including spare parts, to be purchased; or "(ii) that, when added to the remaining balance on any other Federal credit instruments made under this subchapter, provides more than $100,000,000 of outstanding credit to any single obligor. "(C) FINAL PAYMENT DATE.— The final payment on the secured loan shall not be due later than 18 years after the date of execution of the loan agreement. "(D) SUBORDINATION. —The secured loan may be subordinate to claims of other holders of obligations in the event of bankruptcy, insolvency, or liquidation of the obligor as determined appropriate by the Secretary. "(E) FEES. —The Secretary, subject to appropriations, may establish fees at a level sufficient to cover all or a portion of the administrative costs to the United States Government of making a secured loan under this section. The proceeds of such fees shall be deposited in an account to be used by the Secretary for the purpose of administering the program established under this subchapter and shall be available upon deposit until expended. " (2) REPAYMENT.— "(A) SCHEDULE.— The Secretary shall establish a repay- ment schedule for each secured loan under this section based on the projected cash flow from aircraft revenues and other repayment sources. "(B) COMMENCEMENT. —Scheduled loan repayments of principal and interest on a secured loan under this section shall commence no later than 3 years after the date of execution of the loan agreement. " (3) PREPAYMENT.— "(A) USE OF EXCESS REVENUE.— After satisfying scheduled debt service requirements on all financial obligations and secured loans and all deposit requirements under the terms of any trust agreement, bond resolution, or similar agreement securing financial obligations, the secured loan may be prepaid at anytime without penalty. "(B) USE OF PROCEEDS OF REFINANCING.—The secured loan may be prepaid at any time without penalty from proceeds of refinancing from non-Federal funding sources. " (c) LOAN GUARANTEES. — "(1) IN GENERAL. —A loan guarantee under this section with respect to a loan made for an aircraft purchase shall be made in such form and on such terms and conditions and contain such covenants, representatives, warranties, and requirements (including requirements for audits) as the Secretary determines appropriate. "(2) MAXIMUM AMOUNT. —No loan guarantee shall be made under this section— "(A) that extends to more than the unpaid interest and 50 percent of the unpaid principal on any loan; "(B) that, for any loan or combination of loans, extends to more than 50 percent of the purchase price (including the value of any manufacturer credits, post-purchase
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