Temporary Corporate Credit Union Liquidity Guarantee Program, 36271-36273 [E9-17339]
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Federal Register / Vol. 74, No. 139 / Wednesday, July 22, 2009 / Notices
may serve a broad range of individuals.
In the SGA, the language designated
below as ‘‘old text’’ is replaced with the
language designated as ‘‘new text,’’ as
follows:
a. Old Text—‘‘For specific definitions
for these target populations, applicants
must refer to Section VI.B.’’
b. New Text—‘‘For specific
definitions for these target populations,
applicants must refer to Section VI.B.
Within these four categories, eligible
participants may serve a broad range of
individuals, including: Individuals with
disabilities, individuals with limited
English proficiency, Veterans, Indian
and Native Americans, and older
workers.’’
FOR FURTHER INFORMATION CONTACT:
Melissa Abdullah, Grants Management
Specialist, Division of Federal
Assistance, at (202) 693–3346.
Signed at Washington, DC, this 17th day of
July 2009.
Donna Kelly,
Grant Officer, Employment & Training
Administration.
[FR Doc. E9–17414 Filed 7–21–09; 8:45 am]
BILLING CODE 4510–FN–P
DEPARTMENT OF LABOR
Employment & Training Administration
[SGA/DFA–PY 08–17]
Solicitation for Grant Applications
(SGA); Amendment One; State Labor
Market Information Improvement
Grants
AGENCY: Employment and Training
Administration (ETA), Labor.
ACTION: Notice: Amendment to SGA/
DFA–PY 08–17.
The Employment and
Training Administration published a
document in the Federal Register on
June 24, 2009, announcing the
availability of funds and solicitation for
grant applications (SGA) for State Labor
Market Information Improvement Grants
to be awarded through a competitive
process. This amendment to the SGA
clarifies items related to: (1) Strategies
and Approaches (Section I.B.3.ii); (2)
Evaluation Criteria, Deliverables
(Section V.A.4.iii); (3) the number of
applications from a Single State (Section
III.A); and (4) Section B on Green
Industries and Occupations
(Supplementary Information). The
changes in items 1 and 2 below were
made in order to make the terminology
for certificates or degrees match existing
ETA definitions. The changes in items
3 and 4 below are to provide further
jlentini on DSKJ8SOYB1PROD with NOTICES
SUMMARY:
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16:04 Jul 21, 2009
Jkt 217001
clarification on number of applications
per Single State and targeted industries.
The document is hereby amended.
1. Section I.B.3.ii, ‘‘Funding
Opportunity Description, Strategies and
Approaches, Related Research
Activities’’ (page 30131) is revised by
replacing the language designated below
as ‘‘old text’’ with the language
designated as ‘‘new text’’:
a. Old text: ‘‘State-specific summaries
of educational resources including postsecondary and higher educational
institutions’ courses and programs
leading to industry-recognized
credentials, certifications, or degrees;’’
b. New text: ‘‘State-specific
summaries of educational resources
including post-secondary and higher
educational institutions’ courses and
programs leading to certificates or
degrees;’’
2. Section V.A.4.iii, ‘‘Application
Review Information, Evaluation Criteria,
Deliverables’’ (page 30136) is revised by
replacing the language designated below
as ‘‘old text’’ with the language
designated as ‘‘new text’’:
a. Old text: ‘‘State-specific summaries
of educational resources including postsecondary and higher educational
institutions’ courses and programs
leading to industry-recognized
credentials, certifications, or degrees;’’
b. New text: ‘‘State-specific
summaries of educational resources
including post-secondary and higher
educational institutions’ courses and
programs leading to certificates or
degrees;’’
3. Section III.A, ‘‘Eligibility
Information, Eligible Applicants’’ (page
30131) is clarifying the number of
applications that a Single State can
submit. Accordingly, Section III.A. on
p. 30131 is revised by replacing the
language designated below as ‘‘old text’’
with the language designated as ‘‘new
text’’:
a. Old text: ‘‘Applicants must clearly
indicate in the required grant abstract if
they are applying as an individual State
or as a consortium. Consortium
applications must identify each
participating State and designate a lead
State as the applicant that will have the
overall responsibility for administering
the grant. The consortium lead State
will coordinate reporting activities and
must serve as the fiscal agent.
Consortium applications will not count
against the ‘single application’ per State
limit for the partnering States, provided
that the consortium proposal includes
original strategies and is not duplicative
of the strategies and deliverables
included in the participating States’
individual applications.’’
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Fmt 4703
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36271
b. New text: ‘‘Applicants must clearly
indicate in the required grant abstract if
they are applying as an individual State
or as a consortium. Consortium
applications must identify each
participating State and designate a lead
State as the applicant that will have the
overall responsibility for administering
the grant. The consortium lead State
will coordinate reporting activities and
must serve as the fiscal agent. States
may submit one application as a single
State as well as one application as a
consortium lead State. There is no limit
to the number of consortium
applications a State may be included
with as a participating partner, provided
that the consortium proposals include
original strategies and are not
duplicative of the strategies and
deliverables included in the
participating States’ individual
applications.’’
4. SUPPLEMENTARY INFORMATION,
Section B ‘‘Green Industries and
Occupations’’ on p. 30129 is revised to
include the following statement:
New Text: ‘‘We will also evaluate
applications for projects that include
emerging green occupations from
industries that have not been discussed
in this section.’’
FOR FURTHER INFORMATION CONTACT:
Willie Harris, Grant Officer, Division of
Federal Assistance, at (202) 693–3344.
Signed at Washington, DC this 17th day of
July, 2009.
Donna Kelly,
Grant Officer, Employment & Training
Administration.
[FR Doc. E9–17413 Filed 7–21–09; 8:45 am]
BILLING CODE 4510–FN–P
NATIONAL CREDIT UNION
ADMINISTRATION
Temporary Corporate Credit Union
Liquidity Guarantee Program
AGENCY: National Credit Union
Administration (NCUA).
ACTION: Notice.
SUMMARY: This notice contains
information about revisions to the
National Credit Union Administration’s
Temporary Corporate Credit Union
Liquidity Guarantee Program
(TCCULGP).
ADDRESSES: 1775 Duke Street,
Alexandria, Virginia 22314.
FOR FURTHER INFORMATION CONTACT:
Dianne Salva, Trial Attorney, Office of
General Counsel, at the above address or
telephone (703) 518–6540.
SUPPLEMENTARY INFORMATION:
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36272
Federal Register / Vol. 74, No. 139 / Wednesday, July 22, 2009 / Notices
and the undersigned (as amended from time
to time, the ‘‘Indenture’’), pursuant to which
the TCCUSF-guaranteed debt obligations
were issued by lllllCredit Union and
are now outstanding. The undersigned
Holder, or Representative on behalf of all
holders, hereby demands payment of the
following amounts that were due and payable
on lllllll [insert month, day and
year] and that are now in default, such
default not having been cured as of the date
hereof:
Principal:
lllllllllllllllllllll
Interest:
lllllllllllllllllllll
together with payment when due of such
other amounts as shall be required to satisfy
the TCCUSF’s guarantee obligations under
the Temporary Corporate Credit Union
Liquidity Guarantee Program (‘‘TCCULGP’’).
Payment of the foregoing amounts should
be made to the undersigned by wire transfer
to the following account:
Financial Institution Name:
lllllllllllllllllllll
ABA Routing Number:
lllllllllllllllllllll
Account Number:
lllllllllllllllllllll
Special Instructions:
lllllllllllllllllllll
The undersigned hereby makes the
following certifications, which certifications
are true and correct as of the date hereof:
1. The undersigned is either:
b The Holder; or
b The authorized Representative of all
debtholders under the Indenture.
2. If the undersigned is the Holder, the
undersigned further certifies that
(a) It hereby does make an assignment of
each right, title and interest in the TCCUSFguaranteed debt to the TCCUSF and to effect
the transfer to the TCCUSF of all of Holder’s
claims in any insolvency proceeding.
Included herewith is the executed and
completed form of assignment of the Holder’s
interest in the TCCUSF-guaranteed debt and
includes the right of the TCCUSF to receive
any and all such distributions on the debt
from the proceeds of the liquidation estate;
and
(b) The undersigned hereby certifies that
this demand is being made within 90 days of
FORM OF TCCULGP DEMAND AND PROOF the occurrence of the payment default upon
which the demand is made. The failure of the
OF CLAIM
Holder to make demand for payment will
[Date] llllllllllllllllll deprive the Holder of all further rights and
Executive Director, National Credit Union
remedies with respect to guarantee claims.
Administration, 1775 Duke Street,
3. If the undersigned is the authorized
Alexandria, VA 22314–3428
Representative of all debtholders under the
Attention: llllllllllllllll Indenture, the undersigned further certifies
that
The undersigned is the holder (‘‘Holder’’)
(a) It has the financial capacity to act as
or a duly authorized representative
Representative since the undersigned has
(‘‘Representative’’) of a holder or holders of
sufficient capital and surplus to act as
Temporary Corporate Credit Union
Representative under the eligibility
Stabilization Fund (‘‘TCCUSF’’) guaranteed
provisions of the Indenture (Section ____), as
debt under the lllllllll [insert
evidenced by a current report of condition of
title of governing document and CUSIP
the undersigned Representative. Such report
Number, if any] dated lllllll [insert
of condition may take the form of a report of
month, day and year] by and between
examination and is attached as Exhibit __. If
lllllll Credit Union as the Issuer,
jlentini on DSKJ8SOYB1PROD with NOTICES
On October 16, 2008, the National
Credit Union Administration Board
approved the TCCULGP. Under the
terms of this original TCCULGP, the
National Credit Union Share Insurance
Fund (NCUSIF) guaranteed certain
unsecured debt of participating
corporate credit unions (corporates)
issued from October 16, 2008 through
June 30, 2009, and maturing on or
before June 30, 2012. NCUA published
notice of the original TCCULGP in the
Federal Register. 73 FR 68450
(November 18, 2008). NCUA also
published a list of corporates that agreed
to participate in the original TCCULGP
on NCUA’s Web site at https://
www.ncua.gov/CorporateCU/index.htm.
On May 21, 2009, the NCUA extended
the terms and conditions of the
TCCULGP and revised the fees charged
to corporates participating in the
program. It published notice of those
changes in the Federal Register. 74 FR
25777 (May 29, 2009). On June 18, 2009
the NCUA Board decided to legally
obligate the TCCUSF for any liability
arising from the TCCULGP. At its July
16 meeting, the NCUA Board also
decided to refine and improve the
TCCULGP, by amending the agreement
with participating corporates and
adding sample forms that investors may
use to file a claim for payment and
assign their interests in the investment,
in the event a default occurs under the
program.
The Proof of Claim form and
Assignment reproduced below are for
the reference of interested parties. They
are also available on the NCUA Web site
at https://www.ncua.gov/Resources/
CorporateStabilization/Index. While
these are examples of such documents
that the NCUA Board finds acceptable,
their use is not mandatory. Investors
who wish to use other written
documents to file their claim or assign
their interests may do so, as long as the
documents they submit are acceptable
to the NCUA Board in its capacity as
manager of the TCCUSF.
VerDate Nov<24>2008
16:04 Jul 21, 2009
Jkt 217001
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Frm 00110
Fmt 4703
Sfmt 4703
the governing documents do not contain a
financial eligibility requirement, the
undersigned or an affiliate thereof must be
‘‘well capitalized,’’ as that term is defined in
12 U.S.C. § 1831o(b)(1) if the Representative
is a bank, or 12 U.S.C. § 1790d or applicable
NCUA regulations if the Representative is a
credit union;
(b) It has the organizational capacity to act
as Representative since the undersigned is a
[i.e. New York banking corporation] with
authority to commence business and to
exercise corporate trust powers, as evidenced
by the Organization Certificate of the
undersigned, a copy of which is attached as
Exhibit l;
(c) It has the exclusive authority to act on
behalf of each and every debtholder under
the Indenture and has a fiduciary
responsibility to each such debtholder. The
undersigned is expressly designated as the
duly authorized representative of such
holders for purposes of making claims and
taking other permitted or required actions
under the Program, as evidenced in Section
__ of the Indenture on Page l. The indenture
is attached hereto in its entirety as Exhibit l.
(d) It is expressly authorized to, and hereby
does, make an assignment of each right, title
and interest in the TCCUSF-guaranteed debt
to the TCCUSF and to effect the transfer to
the TCCUSF of each such holder’s claims in
any insolvency proceeding. Evidence of such
authorization is provided in Section __ of the
Indenture on page __. The Indenture is
attached hereto in its entirety as Exhibit l.
Also included herewith is the executed and
completed form of assignment of the Holder’s
interest in the TCCUSF-guaranteed debt and
includes the right of the TCCUSF to receive
any and all such distributions on the debt
from the proceeds of the liquidation estate.
(e) This demand is being made within 90
days of the occurrence of the payment default
upon which the demand is made. The failure
of the authorized Representative to make
demand for payment will deprive the
debtholder or debtholders of all further rights
and remedies with respect to guarantee
claims.
HOLDER
By:
lllllllllllllllllllll
Printed Name:
lllllllllllllllllllll
Title:
lllllllllllllllllllll
lllllllllllllllllllll
(Tax Identification No.)
lllllllllllllllllllll
lllllllllllllllllllll
(Mailing Address)
lllllllllllllllllllll
(Telephone Number)
lllllllllllllllllllll
(Fax Number)
OR
REPRESENTATIVE
By:
lllllllllllllllllllll
Printed Name:
lllllllllllllllllllll
E:\FR\FM\22JYN1.SGM
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Federal Register / Vol. 74, No. 139 / Wednesday, July 22, 2009 / Notices
Title:
lllllllllllllllllllll
lllllllllllllllllllll
(Tax Identification No.)
lllllllllllllllllllll
lllllllllllllllllllll
(Mailing Address)
lllllllllllllllllllll
(Telephone Number)
lllllllllllllllllllll
(Fax Number)
jlentini on DSKJ8SOYB1PROD with NOTICES
Form of TCCULGP Assignment
The undersigned is the holder (‘‘Holder’’)
or a duly authorized representative
(‘‘Representative’’) of a holder or holders of
Temporary Corporate Credit Union
Stabilization Fund (‘‘TCCUSF’’) guaranteed
debt under the _________ [insert title of
governing document and CUSIP Number, if
any] dated _______ [insert month, day and
year] by and between _____ Credit Union
(‘‘Issuer’’), as the Issuer, and the undersigned
(as amended from time to time, the
‘‘Agreement’’), pursuant to which the
TCCUSF-guaranteed debt obligations were
issued by ____ Credit Union and are now
outstanding. The undersigned Holder, or
Representative on behalf of all holders, has
demanded payment of amounts due and
payable, and that are now in default, such
default not having been cured as of the date
hereof.
In conjunction with that demand, the
undersigned Holder, or Representative on
behalf of all holders, has executed and
submits this Assignment made pursuant to
the terms of Section [___] of the Agreement.
Capitalized terms used herein and not
otherwise defined herein shall have the
meanings assigned thereto in the Agreement.
For value received, the undersigned
Holder, or Representative on behalf of all
holders, (the ‘‘Assignor’’), hereby assigns to
the National Credit Union Administration
(‘‘NCUA’’) TCCUSF, without recourse, all of
the Assignor’s respective rights, title and
interest in and to: (a) The promissory note or
other instrument evidencing the debt issued
under the Agreement (the ‘‘Note’’); (b) the
Agreement pursuant to which the Note was
issued; and (c) any other instrument or
agreement executed by the Issuer regarding
obligations of the Issuer under the Note or
the Agreement (collectively, the
‘‘Assignment’’).
The Assignor acknowledges and agrees that
this Assignment is subject to the Agreement
and to the following:
1) In the event the Assignor receives any
payment under or related to the Note or the
Agreement from a party other than the
TCCUSF (a ‘‘Non-TCCUSF Payment’’):
a. After the date of demand for a guarantee
payment on the TCCUSF pursuant to the
TCCULGP, but prior to the date of the
TCCUSF’s first guarantee payment under the
Agreement, the Assignor shall promptly but
in no event later than five (5) Business Days
after the receipt notify the TCCUSF of the
date and the amount of such Non-TCCUSF
Payment and shall apply such payment as
payment made by the Issuer, and not as a
guarantee payment made by the TCCUSF
under the TCCULGP, and therefore, the
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16:04 Jul 21, 2009
Jkt 217001
amount of such payment shall be excluded
from this Assignment; and
b. After the TCCUSF’s first guarantee
payment under the Agreement, the Assignor
shall forward promptly to the TCCUSF such
Non-TCCUSF Payment in accordance with
the payment instructions provided in writing
by the TCCUSF.
2) Acceptance by the Assignor of payment
pursuant to the TCCULGP for its own behalf,
or in the case of a Representative Assignor,
on behalf of the holders, shall constitute a
release by such Holder or holders of any
liability of the TCCUSF and the NCUA under
the TCCULGP with respect to such payment.
The person who is executing this
Assignment on behalf of the Assignor hereby
represents and warrants to the NCUA and the
TCCUSF that he/she/it is duly authorized to
do so.
IN WITNESS WHEREOF, the Assignor has
caused this instrument to be executed and
delivered this ___ day of ____, 20_.
Very truly yours,
36273
for the proper performance of the
functions of the agency, including
whether the information will have
practical utility; (b) the accuracy of the
agency’s estimate of burden including
the validity of the methodology and
assumptions used; (c) ways to enhance
the quality, utility and clarity of the
information to be collected; or (d) ways
to minimize the burden of the collection
of information on those who are to
respond, including through the use of
appropriate automated, electronic,
mechanical, or other technological
collection techniques or other forms of
information technology should be
addressed to: Office of Information and
Regulatory Affairs of OMB, Attention:
Desk Officer for National Science
Foundation, 725—17th Street, NW.,
Room 10235, Washington, DC 20503,
and to Suzanne H. Plimpton, Reports
[Assignor]
Clearance Officer, National Science
By:
Foundation, 4201 Wilson Boulevard,
lllllllllllllllllllll Suite 295, Arlington, Virginia 22230 or
Printed Name:
send e-mail to splimpto@nsf.gov.
lllllllllllllllllllll Comments regarding this information
Title: llllllllllllllllll collection are best assured of having
For more information about the original
their full effect if received within 30
and revised TCCULGPs, including terms,
days of this notification. Copies of the
conditions, participants, and forms,
submission(s) may be obtained by
interested parties may contact Senior Analyst
calling 703–292–7556.
Dave Shetler of the NCUA Office of Corporate
FOR FURTHER INFORMATION CONTACT:
Credit Unions.
Suzanne H. Plimpton at 703–292–7556
Dated: July 16, 2009.
or send email to splimpto@nsf.gov.
Mary Rupp,
Individuals who use a
Secretary of the Board.
telecommunications device for the deaf
[FR Doc. E9–17339 Filed 7–21–09; 8:45 am]
(TDD) may call the Federal Information
BILLING CODE 7535–01–P
Relay Service (FIRS) at 1–800–877–8339
between 8 a.m. and 8 p.m., Eastern time,
Monday through Friday.
NATIONAL SCIENCE FOUNDATION
NSF may not conduct or sponsor a
collection of information unless the
Agency Information Collection
collection of information displays a
Activities: Comment Request
currently valid OMB control number
and the agency informs potential
AGENCY: National Science Foundation.
persons who are to respond to the
ACTION: Submission for OMB review;
collection of information that such
comment request.
persons are not required to respond to
the collection of information unless it
SUMMARY: The National Science
displays a currently valid OMB control
Foundation (NSF) has submitted the
number.
following information collection
requirement to OMB for review and
SUPPLEMENTARY INFORMATION:
clearance under the Paperwork
Title of Collection: Implementation
Reduction Act of 1995, Pub. L. 104–13.
Evaluation of the ADVANCE Program.
This is the second notice for public
OMB Control No.: 3145–NEW.
comment; the first was published in the
Abstract:
Federal Register at 74 FR 23219, and no
The ADVANCE Program was
comments were received. NSF is
established by the National Science
forwarding the proposed renewal
Foundation in 2001 to address the
submission to the Office of Management underrepresentation and inadequate
and Budget (OMB) for clearance
advancement of women on STEM
simultaneously with the publication of
(Science, Technology, Engineering, and
this second notice. The full submission
Mathematics) faculties at postsecondary
may be found at: https://
institutions. The evaluation being
www.reginfo.gov/public/do/PRAMain.
conducted by the Urban Institute
Comments regarding (a) whether the
focuses on the implementation of
collection of information is necessary
ADVANCE projects at institutions
PO 00000
Frm 00111
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]]>Agencies
[Federal Register Volume 74, Number 139 (Wednesday, July 22, 2009)]
[Notices]
[Pages 36271-36273]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-17339]
=======================================================================
-----------------------------------------------------------------------
NATIONAL CREDIT UNION ADMINISTRATION
Temporary Corporate Credit Union Liquidity Guarantee Program
AGENCY: National Credit Union Administration (NCUA).
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: This notice contains information about revisions to the
National Credit Union Administration's Temporary Corporate Credit Union
Liquidity Guarantee Program (TCCULGP).
ADDRESSES: 1775 Duke Street, Alexandria, Virginia 22314.
FOR FURTHER INFORMATION CONTACT: Dianne Salva, Trial Attorney, Office
of General Counsel, at the above address or telephone (703) 518-6540.
SUPPLEMENTARY INFORMATION:
[[Page 36272]]
On October 16, 2008, the National Credit Union Administration Board
approved the TCCULGP. Under the terms of this original TCCULGP, the
National Credit Union Share Insurance Fund (NCUSIF) guaranteed certain
unsecured debt of participating corporate credit unions (corporates)
issued from October 16, 2008 through June 30, 2009, and maturing on or
before June 30, 2012. NCUA published notice of the original TCCULGP in
the Federal Register. 73 FR 68450 (November 18, 2008). NCUA also
published a list of corporates that agreed to participate in the
original TCCULGP on NCUA's Web site at https://www.ncua.gov/CorporateCU/index.htm.
On May 21, 2009, the NCUA extended the terms and conditions of the
TCCULGP and revised the fees charged to corporates participating in the
program. It published notice of those changes in the Federal Register.
74 FR 25777 (May 29, 2009). On June 18, 2009 the NCUA Board decided to
legally obligate the TCCUSF for any liability arising from the TCCULGP.
At its July 16 meeting, the NCUA Board also decided to refine and
improve the TCCULGP, by amending the agreement with participating
corporates and adding sample forms that investors may use to file a
claim for payment and assign their interests in the investment, in the
event a default occurs under the program.
The Proof of Claim form and Assignment reproduced below are for the
reference of interested parties. They are also available on the NCUA
Web site at https://www.ncua.gov/Resources/CorporateStabilization/Index.
While these are examples of such documents that the NCUA Board finds
acceptable, their use is not mandatory. Investors who wish to use other
written documents to file their claim or assign their interests may do
so, as long as the documents they submit are acceptable to the NCUA
Board in its capacity as manager of the TCCUSF.
FORM OF TCCULGP DEMAND AND PROOF OF CLAIM
[Date]-----------------------------------------------------------------
Executive Director, National Credit Union Administration, 1775 Duke
Street, Alexandria, VA 22314-3428
Attention:-------------------------------------------------------------
The undersigned is the holder (``Holder'') or a duly authorized
representative (``Representative'') of a holder or holders of
Temporary Corporate Credit Union Stabilization Fund (``TCCUSF'')
guaranteed debt under the ------------------ [insert title of
governing document and CUSIP Number, if any] dated --------------
[insert month, day and year] by and between -------------- Credit
Union as the Issuer, and the undersigned (as amended from time to
time, the ``Indenture''), pursuant to which the TCCUSF-guaranteed
debt obligations were issued by ----------Credit Union and are now
outstanding. The undersigned Holder, or Representative on behalf of
all holders, hereby demands payment of the following amounts that
were due and payable on -------------- [insert month, day and year]
and that are now in default, such default not having been cured as
of the date hereof:
Principal:
-----------------------------------------------------------------------
Interest:
-----------------------------------------------------------------------
together with payment when due of such other amounts as shall be
required to satisfy the TCCUSF's guarantee obligations under the
Temporary Corporate Credit Union Liquidity Guarantee Program
(``TCCULGP'').
Payment of the foregoing amounts should be made to the
undersigned by wire transfer to the following account:
Financial Institution Name:
-----------------------------------------------------------------------
ABA Routing Number:
-----------------------------------------------------------------------
Account Number:
-----------------------------------------------------------------------
Special Instructions:
-----------------------------------------------------------------------
The undersigned hereby makes the following certifications, which
certifications are true and correct as of the date hereof:
1. The undersigned is either:
[square] The Holder; or
[square] The authorized Representative of all debtholders under
the Indenture.
2. If the undersigned is the Holder, the undersigned further
certifies that
(a) It hereby does make an assignment of each right, title and
interest in the TCCUSF-guaranteed debt to the TCCUSF and to effect
the transfer to the TCCUSF of all of Holder's claims in any
insolvency proceeding. Included herewith is the executed and
completed form of assignment of the Holder's interest in the TCCUSF-
guaranteed debt and includes the right of the TCCUSF to receive any
and all such distributions on the debt from the proceeds of the
liquidation estate; and
(b) The undersigned hereby certifies that this demand is being
made within 90 days of the occurrence of the payment default upon
which the demand is made. The failure of the Holder to make demand
for payment will deprive the Holder of all further rights and
remedies with respect to guarantee claims.
3. If the undersigned is the authorized Representative of all
debtholders under the Indenture, the undersigned further certifies
that
(a) It has the financial capacity to act as Representative since
the undersigned has sufficient capital and surplus to act as
Representative under the eligibility provisions of the Indenture
(Section --------), as evidenced by a current report of condition of
the undersigned Representative. Such report of condition may take
the form of a report of examination and is attached as Exhibit ----.
If the governing documents do not contain a financial eligibility
requirement, the undersigned or an affiliate thereof must be ``well
capitalized,'' as that term is defined in 12 U.S.C. Sec.
1831o(b)(1) if the Representative is a bank, or 12 U.S.C. Sec.
1790d or applicable NCUA regulations if the Representative is a
credit union;
(b) It has the organizational capacity to act as Representative
since the undersigned is a [i.e. New York banking corporation] with
authority to commence business and to exercise corporate trust
powers, as evidenced by the Organization Certificate of the
undersigned, a copy of which is attached as Exhibit --;
(c) It has the exclusive authority to act on behalf of each and
every debtholder under the Indenture and has a fiduciary
responsibility to each such debtholder. The undersigned is expressly
designated as the duly authorized representative of such holders for
purposes of making claims and taking other permitted or required
actions under the Program, as evidenced in Section ---- of the
Indenture on Page --. The indenture is attached hereto in its
entirety as Exhibit --.
(d) It is expressly authorized to, and hereby does, make an
assignment of each right, title and interest in the TCCUSF-
guaranteed debt to the TCCUSF and to effect the transfer to the
TCCUSF of each such holder's claims in any insolvency proceeding.
Evidence of such authorization is provided in Section ---- of the
Indenture on page ----. The Indenture is attached hereto in its
entirety as Exhibit --. Also included herewith is the executed and
completed form of assignment of the Holder's interest in the TCCUSF-
guaranteed debt and includes the right of the TCCUSF to receive any
and all such distributions on the debt from the proceeds of the
liquidation estate.
(e) This demand is being made within 90 days of the occurrence
of the payment default upon which the demand is made. The failure of
the authorized Representative to make demand for payment will
deprive the debtholder or debtholders of all further rights and
remedies with respect to guarantee claims.
HOLDER
By:
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Printed Name:
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Title:
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(Tax Identification No.)
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(Mailing Address)
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(Telephone Number)
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(Fax Number)
OR
REPRESENTATIVE
By:
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Printed Name:
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Title:
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(Tax Identification No.)
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(Mailing Address)
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(Telephone Number)
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(Fax Number)
Form of TCCULGP Assignment
The undersigned is the holder (``Holder'') or a duly authorized
representative (``Representative'') of a holder or holders of
Temporary Corporate Credit Union Stabilization Fund (``TCCUSF'')
guaranteed debt under the ------------------ [insert title of
governing document and CUSIP Number, if any] dated --------------
[insert month, day and year] by and between ---------- Credit Union
(``Issuer''), as the Issuer, and the undersigned (as amended from
time to time, the ``Agreement''), pursuant to which the TCCUSF-
guaranteed debt obligations were issued by -------- Credit Union and
are now outstanding. The undersigned Holder, or Representative on
behalf of all holders, has demanded payment of amounts due and
payable, and that are now in default, such default not having been
cured as of the date hereof.
In conjunction with that demand, the undersigned Holder, or
Representative on behalf of all holders, has executed and submits
this Assignment made pursuant to the terms of Section [------] of
the Agreement. Capitalized terms used herein and not otherwise
defined herein shall have the meanings assigned thereto in the
Agreement.
For value received, the undersigned Holder, or Representative on
behalf of all holders, (the ``Assignor''), hereby assigns to the
National Credit Union Administration (``NCUA'') TCCUSF, without
recourse, all of the Assignor's respective rights, title and
interest in and to: (a) The promissory note or other instrument
evidencing the debt issued under the Agreement (the ``Note''); (b)
the Agreement pursuant to which the Note was issued; and (c) any
other instrument or agreement executed by the Issuer regarding
obligations of the Issuer under the Note or the Agreement
(collectively, the ``Assignment'').
The Assignor acknowledges and agrees that this Assignment is
subject to the Agreement and to the following:
1) In the event the Assignor receives any payment under or
related to the Note or the Agreement from a party other than the
TCCUSF (a ``Non-TCCUSF Payment''):
a. After the date of demand for a guarantee payment on the
TCCUSF pursuant to the TCCULGP, but prior to the date of the
TCCUSF's first guarantee payment under the Agreement, the Assignor
shall promptly but in no event later than five (5) Business Days
after the receipt notify the TCCUSF of the date and the amount of
such Non-TCCUSF Payment and shall apply such payment as payment made
by the Issuer, and not as a guarantee payment made by the TCCUSF
under the TCCULGP, and therefore, the amount of such payment shall
be excluded from this Assignment; and
b. After the TCCUSF's first guarantee payment under the
Agreement, the Assignor shall forward promptly to the TCCUSF such
Non-TCCUSF Payment in accordance with the payment instructions
provided in writing by the TCCUSF.
2) Acceptance by the Assignor of payment pursuant to the TCCULGP
for its own behalf, or in the case of a Representative Assignor, on
behalf of the holders, shall constitute a release by such Holder or
holders of any liability of the TCCUSF and the NCUA under the
TCCULGP with respect to such payment.
The person who is executing this Assignment on behalf of the
Assignor hereby represents and warrants to the NCUA and the TCCUSF
that he/she/it is duly authorized to do so.
IN WITNESS WHEREOF, the Assignor has caused this instrument to
be executed and delivered this ------ day of --------, 20--.
Very truly yours,
[Assignor]
By:
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Printed Name:
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Title:-----------------------------------------------------------------
For more information about the original and revised TCCULGPs,
including terms, conditions, participants, and forms, interested
parties may contact Senior Analyst Dave Shetler of the NCUA Office
of Corporate Credit Unions.
Dated: July 16, 2009.
Mary Rupp,
Secretary of the Board.
[FR Doc. E9-17339 Filed 7-21-09; 8:45 am]
BILLING CODE 7535-01-P
