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pay-for-performance beneficiary

Defined in 1 place of the United States Code.

The term "pay-for-performance beneficiary" means a State or local government, an Indian Tribe, or a nonprofit or for-profit organization that—

(A) repays capital loaned upfront by a pay-for-performance investor, based on a project outcome specified in a pay-for-performance agreement; or

(B) provides capital directly for costs associated with a pay-for-performance project.

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