### Question
How does RAILROAD REHABILITATION AND IMPROVEMENT FINANCING define loan guarantee commitment?


### Answer
Under *49 U.S.C. § 22401*, **loan guarantee commitment** is defined as:

> a binding agreement by the Secretary to make a loan guarantee when specified conditions are fulfilled by the borrower, the lender, or any other party to the guarantee agreement

#### Citation:
  - *49 U.S.C. § 22401*
  - Heading: **SUBTITLE V-RAIL PROGRAMS > PART B-ASSISTANCE > CHAPTER 224-RAILROAD REHABILITATION AND IMPROVEMENT FINANCING**

