Strategic Materials
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USUnited StatesU.S. Department of Commerce (CHIPS Program Office)

Contractual ownership covenant · Funding Agreements, covenants (iv) and (xi)

Commerce's CHIPS Program letter of intent with USA Rare Earth, and the funding and loan guarantee agreements that followed

In forceInbound investment

ctl-us-chips-usar-2026-covenants

What it covers

In the instrument's own words.

restrictions on joint research and transactions with foreign countries and entities of concern; ... restrictions on mergers, dispositions, and change of control transactions without consent of the DOC

Record

Targeting
End users
End users
  • foreign countries and entities of concern
Materials
Rare earth elements (grouped)GalliumDysprosiumTerbiumRare-earth permanent magnets (NdFeB)Also names: hafnium; zirconiumIncludes untracked materials
Items and stages
The clause defines no items of its own
Legal basis
Direct Funding Agreement and Loan Guarantee Agreement under the CHIPS Act of 2022

Status

Oldest first; the last entry is current. A stated end date is shown, never extended by inference.

  1. In forcecurrent

    Covenants of the Funding Agreements entered into on 3 June 2026; the filing does not state their duration.

    USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR)

Notes

Contractual conditions attached to public money, recorded as a control in the same way as the DoD–MP ownership covenants: a restriction on dealings with foreign entities of concern and on changes of control without the Department of Commerce's consent. It binds the company, not third parties.

Evidence

Which source supports which field, how directly, and where.

  1. USA Rare Earth, Inc. Form 8-K (June 3, 2026): Direct Funding Agreement and Loan Guarantee Agreement with the Department of Commerce

    USA Rare Earth, Inc. / U.S. Securities and Exchange Commission (EDGAR)

    Fields supported
    Measure type · Direction · Clause · Targets · Materials · Product scope · Legal basis · Status
    Evidence level
    Explicit
    Location in document
    Item 1.01, Representations, Warranties and Covenants
    View source dossier →