; (ii) compliance with such other requirements as are specified in this Act; and (iii) the availability of funds to carry out this Act; and (E) require that contingent commitments result in a financial close and obligation of credit assistance not later than 3 years after the date of entry into the master credit agreement, or release of the commitment, unless otherwise extended by the Secretary. (8) Obligor The term obligor means an eligible entity that is primarily liable for payment of the principal of, or interest on, a Federal credit instrument. (9) Project obligation (A) In general The term project obligation means any note, bond, debenture, or other debt obligation issued by an obligor in connection with the financing of a project. (B) Exclusion The term project obligation does not include a Federal credit instrument. (10) Rating agency The term rating agency means a credit rating agency registered with the Securities and Exchange Commission as a nationally recognized statistical rating organization (as defined in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) )). (11) Reclamation state The term Reclamation State means any of the following States: (A) Arizona; (B) California; (C) Colorado; (D) Idaho; (E) Kansas; (F) Montana; (G) Nebraska; (H) Nevada; (I) New Mexico; (J) North Dakota; (K) Oklahoma; (L) Oregon; (M) South Dakota; (N) Texas; (O) Utah; (P) Washington