{"identifier":"/us/usc/t49/s41762","title":49,"num":"\u00a7\u202f41762.","heading":"Definitions","text":"\u00a7\u202f41762.\nDefinitions\nIn this subchapter, the following definitions apply:\n(1)\nAir carrier.\u2014\nThe term \u201cair carrier\u201d means any air carrier holding a certificate of public convenience and necessity issued by the Secretary of Transportation under section 41102.\n(2)\nAircraft purchase.\u2014\nThe term \u201caircraft purchase\u201d means the purchase of commercial transport aircraft, including spare parts normally associated with the aircraft.\n(3)\nCapital reserve subsidy amount.\u2014\nThe term \u201ccapital reserve subsidy amount\u201d means the amount of budget authority sufficient to cover estimated long-term cost to the United States Government of a Federal credit instrument, calculated on a net present value basis, excluding administrative costs and any incidental effects on Government receipts or outlays in accordance with provisions of the Federal Credit Reform Act of 1990 (\n2 U.S.C. 661\n(4)\nCommuter air carrier.\u2014\nThe term \u201ccommuter air carrier\u201d means an air carrier that primarily operates aircraft designed to have a maximum passenger seating capacity of 75 or less in accordance with published flight schedules.\n(5)\nFederal credit instrument.\u2014\nThe term \u201cFederal credit instrument\u201d means a secured loan, loan guarantee, or line of credit authorized to be made under this subchapter.\n(6)\nFinancial obligation.\u2014\nThe term \u201cfinancial obligation\u201d means any note, bond, debenture, or other debt obligation issued by an obligor in connection with the financing of an aircraft purchase, other than a Federal credit instrument.\n(7)\nLender.\u2014\nThe term \u201clender\u201d means any non-Federal qualified institutional buyer (as defined by section 230.144A(a) of title 17, Code of Federal Regulations (or any successor regulation) known as Rule 144A(a) of the Security and Exchange Commission and issued under the Security Act of 1933 (\n(A) a qualified retirement plan (as defined in section 4974(c) of the Internal Revenue Code of 1986) that is a qualified institutional buyer; and\n(B) a governmental plan (as defined in section 414(d) of the Internal Revenue Code of 1986) that is a qualified institutional buyer.\n(8)\nLine of credit.\u2014\nThe term \u201cline of credit\u201d means an agreement entered into by the Secretary with an obligor under section 41763(d) to provide a direct loan at a future date upon the occurrence of certain events.\n(9)\nLoan guarantee.\u2014\nThe term \u201cloan guarantee\u201d means any guarantee or other pledge by the Secretary under section 41763(c) to pay all or part of any of the principal of and interest on a loan or other debt obligation issued by an obligor and funded by a lender.\n(10)\nNew entrant air carrier.\u2014\nThe term \u201cnew entrant air carrier\u201d means an air carrier that has been providing air transportation according to a published schedule for less than 5 years, including any person that has received authority from the Secretary to provide air transportation but is not providing air transportation.\n(11)\nObligor.\u2014\nThe term \u201cobligor\u201d means a party primarily liable for payment of the principal of or interest on a Federal credit instrument, which party may be a corporation, partnership, joint venture, trust, or governmental entity, agency, or instrumentality.\n(12)\nRegional jet aircraft.\u2014\nThe term \u201cregional jet aircraft\u201d means a civil aircraft\u2014\n(A) powered by jet propulsion; and\n(B) designed to have a maximum passenger seating capacity of not less than 30 nor more than 75.\n(13)\nSecured loan.\u2014\nThe term \u201csecured loan\u201d means a direct loan funded by the Secretary in connection with the financing of an aircraft purchase under section 41763(b).\n(14)\nUnderserved market.\u2014\nThe term \u201cunderserved market\u201d means a passenger air transportation market (as defined by the Secretary) that\u2014\n(A) is served (as determined by the Secretary) by a nonhub airport or a small hub airport;\n(B) is not within a 40-mile radius of an airport that each year has at least .25 percent of the total annual boardings in the United States; and\n(C) the Secretary determines does not have sufficient air service.","url":"https://projectusc.org/usc/t49/s41762.html","content":[{"t":"sec","id":"/us/usc/t49/s41762","children":[{"t":"num","text":"\u00a7\u202f41762."},{"t":"heading","text":"Definitions","tail":"\n"},{"t":"chapeau","text":"In this subchapter, the following definitions apply:"},{"t":"para","id":"/us/usc/t49/s41762/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"Air carrier.\u2014"},{"t":"content","text":"The term \u201cair carrier\u201d means any air carrier holding a certificate of public convenience and necessity issued by the Secretary of Transportation under section 41102.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Aircraft purchase.\u2014"},{"t":"content","text":"The term \u201caircraft purchase\u201d means the purchase of commercial transport aircraft, including spare parts normally associated with the aircraft.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Capital reserve subsidy amount.\u2014"},{"t":"content","text":"The term \u201ccapital reserve subsidy amount\u201d means the amount of budget authority sufficient to cover estimated long-term cost to the United States Government of a Federal credit instrument, calculated on a net present value basis, excluding administrative costs and any incidental effects on Government receipts or outlays in accordance with provisions of the Federal Credit Reform Act of 1990 (","children":[{"t":"ref","text":"2 U.S.C. 661","href":"/us/usc/t2/s661","tail":" et seq.)."}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/4","children":[{"t":"num","text":"(4)"},{"t":"heading","text":"Commuter air carrier.\u2014"},{"t":"content","text":"The term \u201ccommuter air carrier\u201d means an air carrier that primarily operates aircraft designed to have a maximum passenger seating capacity of 75 or less in accordance with published flight schedules.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/5","children":[{"t":"num","text":"(5)"},{"t":"heading","text":"Federal credit instrument.\u2014"},{"t":"content","text":"The term \u201cFederal credit instrument\u201d means a secured loan, loan guarantee, or line of credit authorized to be made under this subchapter.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/6","children":[{"t":"num","text":"(6)"},{"t":"heading","text":"Financial obligation.\u2014"},{"t":"content","text":"The term \u201cfinancial obligation\u201d means any note, bond, debenture, or other debt obligation issued by an obligor in connection with the financing of an aircraft purchase, other than a Federal credit instrument.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/7","children":[{"t":"num","text":"(7)"},{"t":"heading","text":"Lender.\u2014"},{"t":"chapeau","text":"The term \u201clender\u201d means any non-Federal qualified institutional buyer (as defined by section 230.144A(a) of title 17, Code of Federal Regulations (or any successor regulation) known as Rule 144A(a) of the Security and Exchange Commission and issued under the Security Act of 1933 (","children":[{"t":"ref","text":"15 U.S.C. 77a","href":"/us/usc/t15/s77a","tail":" et seq.)), including\u2014"}]},{"t":"subpara","id":"/us/usc/t49/s41762/7/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" a qualified retirement plan (as defined in section 4974(c) of the Internal Revenue Code of 1986) that is a qualified institutional buyer; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t49/s41762/7/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" a governmental plan (as defined in section 414(d) of the Internal Revenue Code of 1986) that is a qualified institutional buyer.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/8","children":[{"t":"num","text":"(8)"},{"t":"heading","text":"Line of credit.\u2014"},{"t":"content","text":"The term \u201cline of credit\u201d means an agreement entered into by the Secretary with an obligor under section 41763(d) to provide a direct loan at a future date upon the occurrence of certain events.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/9","children":[{"t":"num","text":"(9)"},{"t":"heading","text":"Loan guarantee.\u2014"},{"t":"content","text":"The term \u201cloan guarantee\u201d means any guarantee or other pledge by the Secretary under section 41763(c) to pay all or part of any of the principal of and interest on a loan or other debt obligation issued by an obligor and funded by a lender.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/10","children":[{"t":"num","text":"(10)"},{"t":"heading","text":"New entrant air carrier.\u2014"},{"t":"content","text":"The term \u201cnew entrant air carrier\u201d means an air carrier that has been providing air transportation according to a published schedule for less than 5 years, including any person that has received authority from the Secretary to provide air transportation but is not providing air transportation.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/11","children":[{"t":"num","text":"(11)"},{"t":"heading","text":"Obligor.\u2014"},{"t":"content","text":"The term \u201cobligor\u201d means a party primarily liable for payment of the principal of or interest on a Federal credit instrument, which party may be a corporation, partnership, joint venture, trust, or governmental entity, agency, or instrumentality.","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/12","children":[{"t":"num","text":"(12)"},{"t":"heading","text":"Regional jet aircraft.\u2014"},{"t":"chapeau","text":"The term \u201cregional jet aircraft\u201d means a civil aircraft\u2014"},{"t":"subpara","id":"/us/usc/t49/s41762/12/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" powered by jet propulsion; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t49/s41762/12/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" designed to have a maximum passenger seating capacity of not less than 30 nor more than 75.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/13","children":[{"t":"num","text":"(13)"},{"t":"heading","text":"Secured loan.\u2014"},{"t":"content","text":"The term \u201csecured loan\u201d means a direct loan funded by the Secretary in connection with the financing of an aircraft purchase under section 41763(b).","tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t49/s41762/14","children":[{"t":"num","text":"(14)"},{"t":"heading","text":"Underserved market.\u2014"},{"t":"chapeau","text":"The term \u201cunderserved market\u201d means a passenger air transportation market (as defined by the Secretary) that\u2014"},{"t":"subpara","id":"/us/usc/t49/s41762/14/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" is served (as determined by the Secretary) by a nonhub airport or a small hub airport;","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t49/s41762/14/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" is not within a 40-mile radius of an airport that each year has at least .25 percent of the total annual boardings in the United States; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t49/s41762/14/C","children":[{"t":"num","text":"(C)"},{"t":"content","text":" the Secretary determines does not have sufficient air service.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}