611.2 Definitions.§ 611.2 Definitions.
The definitions contained in this section apply to provisions contained in both subpart A and subpart B.
Adjusted average fuel economy means a harmonic production weighted average of the combined fuel economy of all vehicles in a fleet, which were subject to CAFE.
Advanced technology vehicle means a passenger automobile or light truck that meets -
(1) The Bin 5 Tier II emission standard established in regulations issued by the Administrator of the Environmental Protection Agency under section 202(i) of the Clean Air Act (42 U.S.C. 7521(i)), as of the date of application, or a lower-numbered Bin emission standard;
(2) Any new emission standard in effect for fine particulate matter prescribed by the Administrator under that Act (42 U.S.C. 7401 et seq.), as of the date of application; and
(3) At least 125 percent of the harmonic production weighted average combined fuel economy, for vehicles with substantially similar attributes in model year 2005.
Agreement means the contractual loan arrangement between DOE and a Borrower for a loan made by and through the Federal Financing Bank with the full faith and credit of the United States government on the principal and interest.
Applicant means a party that submits a substantially complete application pursuant to this part.
Application means the compilation of the materials required by this part to be submitted to DOE by an Applicant. One Application can include requests for one or more loans and one or more projects. However, an Application covering more than one project must contain complete and separable information with respect to each project.
Automobile is used as that term is defined in 49 CFR part 523.
Borrower means an Applicant that receives a loan under this Program.
CAFE means the Corporate Average Fuel Economy program of the Energy Policy and Conservation Act, 49 U.S.C. 32901 et seq.
Combined fuel economy means the combined city/highway miles per gallon values, as are reported in accordance with section 32904 of title 49, United States Code. If CAFE compliance data is not available, the combined average fuel economy of a vehicle must be demonstrated through the use of a peer-reviewed model.
DOE or Department means the United States Department of Energy.
Eligible Facility means a manufacturing facility in the United States that produces qualifying advanced technology vehicles, or qualifying components.
Eligible Project means:
(1) Reequipping, expanding, or establishing a manufacturing facility in the United States to produce qualifying advanced technology vehicles, or qualifying components; or
(2) Engineering integration performed in the United States for qualifying advanced technology vehicles and qualifying components.
Engineering integration costs are the costs of engineering tasks relating to -
(1) Incorporating qualifying components into the design of advanced technology vehicles; and
(2) Designing tooling and equipment and developing manufacturing processes and material suppliers for production facilities that produce qualifying components or advanced technology vehicles.
Equivalent vehicle means a light-duty vehicle of the same vehicle classification as specified in 10 CFR part 523.
Financially viable means a reasonable prospect that the Applicant will be able to make payments of principal and interest on the loan as and when such payments become due under the terms of the loan documents, and that the applicant has a net present value that is positive, taking all costs, existing and future, into account.
Grantee means an entity awarded a grant made pursuant to section 136 and this Part.
Light-duty vehicle means passenger automobiles and light trucks.
Light truck is used as that term is defined in 49 CFR part 523.
Loan Documents mean the Agreement and all other instruments, and all documentation among DOE, the borrower, and the Federal Financing Bank evidencing the making, disbursing, securing, collecting, or otherwise administering the loan [references to loan documents also include comparable agreements, instruments, and documentation for other financial obligations for which a loan is requested or issued].
Model year is defined as that term is defined in 49 U.S.C. 32901.
Passenger automobile is used as that term is defined in 49 CFR part 523.
Qualifying components means components that the DOE determines are
(1) Designed for advanced technology vehicles; and
(2) Installed for the purpose of meeting the performance requirements of advanced technology vehicles.
Secretary means the United States Secretary of Energy.
Security means all property, real or personal, tangible or intangible, required by the provisions of the Loan Documents to secure repayment of any indebtedness of the Borrower under the Loan Documents.