Temporary Corporate Credit Union Liquidity Guarantee Program, 36271-36273 [E9-17339]

Download as PDF 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: VerDate Nov<24>2008 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.’’ PO 00000 Frm 00109 Fmt 4703 Sfmt 4703 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: E:\FR\FM\22JYN1.SGM 22JYN1 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 http:// 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 http://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 PO 00000 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 22JYN1 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 VerDate Nov<24>2008 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: http:// 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 Fmt 4703 Sfmt 4703 E:\FR\FM\22JYN1.SGM 22JYN1

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]


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NATIONAL CREDIT UNION ADMINISTRATION


Temporary Corporate Credit Union Liquidity Guarantee Program

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice.

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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 http://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 http://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:

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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:

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ABA Routing Number:

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Account Number:

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Special Instructions:

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    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.)

-----------------------------------------------------------------------

-----------------------------------------------------------------------
(Mailing Address)

-----------------------------------------------------------------------
(Telephone Number)

-----------------------------------------------------------------------

(Fax Number)

OR

REPRESENTATIVE

By:
-----------------------------------------------------------------------

Printed Name:
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[[Page 36273]]

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Title:
-----------------------------------------------------------------------

-----------------------------------------------------------------------
(Tax Identification No.)
-----------------------------------------------------------------------

-----------------------------------------------------------------------
(Mailing Address)
-----------------------------------------------------------------------
(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