StacksVerified U.S. regulatory reference

13 CFR §120.922

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
In addition to its share of Project cost, a Third-Party Loan may include consolidation of existing debt on the Project Property. The consolidation must not improve the lien position of the Lender on the pre-existing debt, unless the debt is a previous Third-Party Loan.