Private Loan Law and Legal Definition

Private loan means, “collectively, the loan or loans that is or are obtained by the Borrower from an Eligible Private Lender to prepay the Total Permitted Prepayment Amount, or the portion thereof which the Borrower has selected to prepay.” [31 CFR 25.100; Title 31-Money And Finance: Treasury; Subtitle A-Office Of The Secretary Of The Treasury; Part 25-Prepayment Of Foreign Military Sales Loans Made By The Defense Security Assistance Agency And Foreign Military Sales Loans Made By The Federal Financing Bank And Guaranteed By The Defense Security Assistance Agency; Subpart A-General]