; and (B) have contractual obligations for making lease, rent, or bond payments for publicly owned sports facilities, museums, and community theaters. (2) Loan terms Any such loan shall have the following terms and such other terms as the Secretary shall determine: (A) A term of 15 years. (B) An annualized interest rate of not higher than the London Inter-bank Offered Rate plus 200 basis points. (C) Not include a requirement to provide collateral or a guaranty of such loan. (D) Not exceed $25,000,000 and shall be in an amount as determined between the recipient and the lender (but in no event shall the amount of such loan be determined based on the recipient’s earnings before interest, taxes, depreciation, and amortization). (E) Interest and principal on each such loan shall be paid as follows: (i) For the first 12 months after any such loan is made, or for such longer period as the Secretary may determine in his discretion, no principal or interest shall be due and payable. (ii) From year 2 through year 14 of the term of any such loan, interest on the principal amount of such loan shall be payable monthly and 2.31 percent of the principal amount of such loan shall be payable at the end of each such year. (iii) In year 15 of the term of any such loan, interest shall be payable monthly and the remaining 70 percent of the principal amount of such loan shall be paid at the end of such year. (F) The recipient shall be permitted to prepay any such loan at any time without premium or penalty. (3) Eligible borrowers Any eligible borrower applying for a loan under this program shall make a good-faith certification that: (A) The uncertainty of economic conditions as of the date of the application makes necessary the loan request to support the ongoing operations of the recipient. (B) The recipient reasonably believes that the positive economic impact generated by the use of the funds it receives will exceed the loan amount. (C) The recipient is an entity or business that is domiciled in the United States with significant