; and (B) of the final acceptance or denial of such application not later than 5 days after receiving a final decision from the Secretary. (7) Application decision The Secretary shall accept or deny an application under paragraph (1) not later than 10 days after the date on which an eligible institution completes all of the submission requirements under paragraphs (2), (3), and (4). (d) COVID–19 provisional program participation agreement (1) Authority to enter agreement The Secretary may enter into a COVID–19 provisional program participation agreement under this subsection with an eligible institution that submits an application under subsection (c)(1) on or before December 31, 2020, only if the Secretary has received— (A) an auditor attestation under subsection (c)(2) that such eligible institution has a liquidity level of less than or equal to 180 days on the date of the application of such eligible institution under subsection (c)(1); (B) a record-management plan with respect to such eligible institution in accordance with subsection (c)(3); and (C) a teach-out plan with respect to such eligible institution in accordance with subsection (c)(4). (2) Participation requirements In entering into a COVID–19 provisional program participation agreement with an eligible institution under this subsection, the Secretary shall require such eligible institution— (A) if such eligible institution has a liquidity level of less than or equal to 90 days on the date of the application of such eligible institution under subsection (c)(1), to submit a teach-out agreement (or teach-out agreements, as applicable) to the Secretary, to the accrediting agency of the institution, and, if applicable, the State authorizing agency of the institution, in accordance with paragraph (3); (B) to report to the Secretary in accordance with paragraph (4); (C) to meet the administrative capacity requirements under section 498(d) of the Higher Education Act of 1965 ( 20 U.S.C. 1099c(d) )