Code of Maine Rules
94 - INDEPENDENT AGENCIES
457 - FINANCE AUTHORITY OF MAINE (FAME)
Chapter 204 - SECONDARY MARKET PROGRAM
Section 457-204-17 - When Guarantee Terminates

The Loan Note Guarantee for a Certificate will terminate automatically (a) upon full payment of the related Eligible Loan; or (b) upon full payment of any loss obligation thereunder; or (c) upon written notice from the Lender to the Authority that the guarantee will terminate 30 days after the date of notice, provided the Lender holds the Guaranteed Portion and the Loan Note Guarantee is returned to be canceled by the Authority, or (d) at such time as there is no Holder of the Guaranteed Portion of the Eligible Loan, at which such time the provisions of the Loan Insurance Agreement, shall solely apply.