### Question
What is the definition of loan guarantee commitment?


### Answer
The definition of **loan guarantee commitment** is as follows in *45 U.S.C. § 821*:

> 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:
  - *45 U.S.C. § 821*
  - Heading: **CHAPTER 17-RAILROAD REVITALIZATION AND REGULATORY REFORM > SUBCHAPTER II-RAILROAD REHABILITATION AND IMPROVEMENT FINANCING**

