; (B) the allotment requirements under section 324; and (C) the use of the funding formula developed pursuant to section 326(f)(3); (2) Definitions In this subsection: (A) Affected institution The term affected institution means an institution of higher education that— (i) is— (I) a part A institution (which term shall have the meaning given the term eligible institution under section 312(b) or section 502(a)(6)); or (II) a part B institution, as such term is defined in section 322(2), or as identified in section 326(e); (ii) is located in an area affected by a major disaster; and (iii) is able to demonstrate that, as a result of the impact of a major disaster, the institution— (I) incurred physical damage; (II) has pursued collateral source compensation from insurance, the Federal Emergency Management Agency, and the Small Business Administration, as appropriate; and (III) was not able to fully reopen in existing facilities or to fully reopen to the pre-disaster enrollment levels. (B) Major disaster The term major disaster has the meaning given such term in section 102(2) of the Robert T. Stafford Disaster Relief and Emergency Assistance Act ( 42 U.S.C. 5122(2) ).