Code · BILL · 116th Congress · H.R. 6549 (Introduced in House) — To prevent the acceleration of the due date of business loans during the COVID–19 national emergency, and for other p... · Sec. 2

Sec. 2. Construction of loan covenants

100 words·~1 min read·/bill/116/hr/6549/ih/section-2

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In determining whether any borrower is in violation of any loan covenant or is required to repay a loan on an accelerated basis, any loan received under any governmental program to deal with the COVID–19 virus shall be excluded. Any loan received from any governmental entity under any program to deal with the COVID–19 virus shall not be taken into account in determining the debts or liabilities of the borrower for purposes of determining whether the borrower is in conformity with any loan agreement, or whether the lender has the right to accelerate the due date of any loan agreement.