SBA PPP Loan. Borrower shall use all of the proceeds of the SBA PPP Loan exclusively for the CARES Allowable Uses in the manner required under the CARES Act. Borrower shall (A) maintain all records required to be submitted in connection with the forgiveness of the SBA PPP Loan, (B) apply for forgiveness of the SBA PPP Loan in accordance with regulations implementing Section 1106 of the CARES Act and (C) provide the Administrative Agent with a copy of its application for forgiveness and all supporting documentation required by the SBA or the SBA PPP Loan lender in connection with the forgiveness of the SBA PPP Loan.
SBA PPP Loan. Notwithstanding anything contained in the Credit Agreement, including any restrictions on the ability of the Loan Parties to incur Indebtedness, the Loan Parties may incur Indebtedness in the form of SBA PPP Loans.
SBA PPP Loan. Borrower shall:
SBA PPP Loan. Parent and the Borrower will, and will cause each other Loan Party to (a) comply in all material respects with the SBA’s terms and conditions applicable to the SBA PPP Loan, (b) use the proceeds of the SBA PPP Loan only for CARES Allowable Uses, (c) keep necessary and appropriate records relating to the use of the SBA PPP Loan (and provide such records to the Administrative Agent upon the Administrative Agent’s reasonable request), and (d) promptly take all applicable actions, not later than 45 days after the eight-week period immediately following the SBA PPP Loan Date (or such later date as permitted under the CARES Act), to apply for forgiveness of the SBA PPP Loan in accordance with the regulations implementing Section 1106 of the CARES Act (and provide documentation, and status, of such forgiveness to the Administrative Agent upon the Administrative Agent’s reasonable request). [Credit Agreement]
SBA PPP Loan. (a) comply with all terms and conditions of the SBA PPP Loan and all requirements of the SBA and Small Business Act related thereto and use the proceeds of the SBA PPP Loan solely for CARES Allowable Uses;
SBA PPP Loan. (i) Borrower shall promptly (but no later than within two (2) Business Days) notify Collateral Agent of execution, consummation, filing, delivery or receipt, of any agreement, instrument, application, document, amendment, modification, waiver, supplement, consent or notice with respect to the SBA PPP Loan (including, without limitation, forgiveness thereof), and with such notification provide to Collateral Agent a copy thereof.
SBA PPP Loan. (a) Each Borrower and each other Loan Party that incurred any SBA PPP Loan shall (i) comply in all material respects with all applicable provisions of the Paycheck Protection Program and (ii) use commercially reasonable efforts to conduct their business in a manner that maximizes the amount of the SBA PPP Loan that is forgiven.
SBA PPP Loan. (a) Comply in all material respects with the requirements of the CARES Act with respect to the SBA PPP Loan, (ii) take reasonable requisite actions for the full forgiveness the entire SBA PPP Loan, (iii) use SBA PPP Loan proceeds only for permitted purposes under the CARES Act, (iv) apply for forgiveness of the maximum permitted portion of the SBA PPP Loan in accordance with the terms of the SBA PPP Loan and provide Agent a copy of such application, and (v) maintain all records required to be submitted in connection with the forgiveness of the SBA PPP Loan and, if requested, deliver to Agent a copy of any application for forgiveness and all supporting documentation required by the U.S. Small Business Administration or the SBA PPP Loan lender in connection with the forgiveness of the SBA PPP Loan.
SBA PPP Loan. The Borrower shall (i) comply with the SBA’s terms and conditions applicable to the SBA PPP Loan, (ii) use the proceeds of the SBA PPP Loan only for CARES Allowable Uses, (iii) keep necessary and appropriate records relating to the use of the SBA PPP Loan and provide such records to the Administrative Agent upon the Administrative Agent’s reasonable request, and (iv) promptly take all applicable actions, not later than 45 days after the eight week period immediately following the SBA PPP Loan Date, to apply for forgiveness of the SPA PPP Loan in accordance with the regulations implementing Section 1106 of the CARES Act (and will provide documentation, and confirmation of status, of such forgiveness to the Administrative Agent upon the Administrative Agent’s reasonable request).
SBA PPP Loan. Each Loan Party and its Subsidiaries has (i) complied with the SBA’s terms and conditions applicable to the SBA PPP Loan, (ii) used the proceeds of the SBA PPP Loan only for CARES Allowable Uses, (iii) kept necessary and appropriate records relating to the use of the SBA PPP Loan, and (iv) taken all applicable actions, not later than that the earlier of (x) by the date required by the CARES ACT or (y) 45 days after the Effective Date, to apply for forgiveness of the SBA PPP Loan in accordance with the regulations implementing Section 1106 of the CARES Act, unless the Company has already consummated a Going Public Transaction by such date.
