§ 81.142. Default.
The defaults and remedies thereof shall be set forth in the instruments which are a part of the loan transaction. Failure to remain an eligible applicant or failure to maintain the project as an eligible project shall constitute an automatic default and grounds for penalties the Authority may deem appropriate.
Authority The provisions of this § 81.142 amended under section 9 of the Pennsylvania Minority Business Development Authority Act (73 P.S. § 390.9).
Source The provisions of this § 81.142 adopted July 11, 1975, effective July 12, 1975, 5 Pa.B. 1781; amended February 6, 1987, effective February 7, 1987, 17 Pa.B. 634. Immediately preceding text appears at serial page (49507).
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