The CDC ensures the Third Party Lender is committed at application (letter of intent, term sheet or commitment letter setting out the interim and permanent terms), that for projects at or above SBA's size threshold the TPL's credit memorandum or underwriting analysis reaches SLPC (in the CDC's memorandum or sent directly by the TPL), and that the Third Party Loan is at least the net debenture amount and at least 50% of project costs for a business operating two years or less or a limited or single purpose asset. The TPL's note and documents contain no cross-default, deem-at-risk or other clause allowing demand before maturity absent default. Additional collateral taken by the TPL must be liquidated no later than the project property and its proceeds applied first, unless SBA agrees otherwise. Interest rate swap fees owed on the Borrower's default are subordinate to the 504 loan, and the CDC signs no intercreditor agreement with the TPL other than SBA Form 2287 without SBA's prior written consent.
The graph holds this control, the 0 it maps to, and the evidence behind each claim, over MCP and REST.