; and (C) capitalized interest necessary to meet market requirements, reasonably required reserve funds, capital issuance expenses, and other carrying costs during construction. (5) Federal credit instrument The term Federal credit instrument means a secured loan or loan guarantee authorized to be made available under the CIFIA program with respect to a project. (6) Lender The term lender means any non-Federal qualified institutional buyer (as defined in section 230.144A(a) of title 17, Code of Federal Regulations (or a successor regulation), commonly known as Rule 144A(a) of the Securities and Exchange Commission and issued under the Securities Act of 1933 ( 15 U.S.C. 77a et seq.)), including— (A) a qualified retirement plan (as defined in section 4974(c) of the Internal Revenue Code of 1986) that is a qualified institutional buyer; and (B) a governmental plan (as defined in section 414(d) of the Internal Revenue Code of 1986) that is a qualified institutional buyer. (7) Letter of interest The term letter of interest means a letter submitted by a potential applicant prior to an application for credit assistance in a format prescribed by the Secretary on the website of the CIFIA program that— (A) describes the project and the location, purpose, and cost of the project; (B) outlines the proposed financial plan, including the requested credit and grant assistance and the proposed obligor; (C) provides a status of environmental review; and (D) provides information regarding satisfaction of other eligibility requirements of the CIFIA program. (8) Loan guarantee The term loan guarantee means any guarantee or other pledge by the Secretary to pay all or part of the principal of, and interest on, a loan or other debt obligation issued by an obligor and funded by a lender. (9) Master credit agreement The term master credit agreement means a conditional agreement that— (A) is for the purpose of extending credit assistance for— (i) a project of high priority under section 999B(c)(3)(A)