; and (B) if the useful life of the capital asset being financed is of a lesser period, the date that is the end of the useful life of the asset. (6) Nonsubordination (A) In general Except as provided in subparagraph (B), the secured loan shall not be subordinated to the claims of any holder of project obligations in the event of bankruptcy, insolvency, or liquidation of the obligor. (B) Preexisting indenture (i) In general The Secretary shall waive the requirement under subparagraph (A) for a public agency borrower that is financing ongoing capital programs and has outstanding senior bonds under a preexisting indenture, if— (I) the secured loan is rated in the A category or higher; and (II) the secured loan is secured and payable from pledged revenues not affected by project performance, such as a tax-backed revenue pledge or a system-backed pledge of project revenues. (ii) Limitation If the Secretary waives the nonsubordination requirement under this subparagraph— (I) the maximum credit subsidy amount to be paid by the Federal Government shall be not more than 10 percent of the principal amount of the secured loan; and (II) the obligor shall be responsible for paying the remainder of the subsidy amount, if any. (7) Fees The Secretary may establish a fee, in an amount equal to not more than $1,000,000, to cover all or a portion of the costs to the Federal Government of making a secured loan under this section. (8) Maximum Federal involvement The total Federal assistance provided for a project under the CIFIA program, including any grant provided under section 999D, shall not exceed an amount equal to 80 percent of the total project cost. (c) Repayment (1) Schedule The Secretary shall establish a repayment schedule for each secured loan under this section based on— (A) the projected cash flow from project revenues and other repayment sources