; (II) allow the applicant to more effectively raise capital commitments in the private markets by referencing the intent of the Administrator to award the applicant a commitment; and (III) allow the applicant to more precisely request the desired amount of commitment pending the securing of capital from private market investors. (iii) Limit on period of the time The period between a provisional approval under clause (i) and the final determination of approval under paragraph (1) shall not exceed 12 months. (e) Commitments and SBIC bonds (1) In general The Administrator may, out of amounts available in the Fund, purchase or commit to purchase from a participating investment company 1 or more accruing bonds that include equity features as described in this subsection. (2) Bond terms A bond purchased by the Administrator from a participating investment company under this subsection shall have the following terms and conditions: (A) Term and interest (i) In general The bond shall be issued for a term of not less than 15 years and shall bear interest at a rate determined by the Administrator of not more than 2 percent. (ii) Accrual of interest Interest on the bond shall accrue and shall be payable in accordance with subparagraph (D). (iii) Prepayment The bond shall be prepayable without penalty after the end of the 1-year period beginning on the date on which the bond was purchased. (B) Profits (i) In general The Administration shall be entitled to receive a share of the profits net of any profit sharing performance compensation of the participating investment company equal to the quotient obtained by dividing— (I) one-third of the commitment that the participating investment company is approved for under subsection (d)