Net Recovery Value of Security [Agriculture] Law and Legal Definition
According to 7 CFR 761.2 [Title 7 – Agriculture, Subtitle B - Regulations of the Department of Agriculture, Chapter VII - Farm Service Agency, Department of Agriculture, Subchapter D - Special Programs, Part 761 - General Program Administration, Subpart A - General Provisions], net recovery value of security is “the market value of the security property, assuming that the lender in the case of a guaranteed loan, or the Agency in the case of a direct loan, will acquire the property and sell it for its highest and best use, less the lender's or the Agency's costs of property acquisition, retention, maintenance, and liquidation.”