Forgivable loan definition

Forgivable loan means a loan awarded under this section covering

Forgivable loan means a loan made to an eligible resident pursuant to the requirements of this chapter.

Forgivable loan means a loan awarded under this section covering tuition, room, board, and the cost of required books and supplies for up to full- time attendance at an eligible school.

Examples of Forgivable loan in a sentence

• Forgivable loan proceeds will be subject to collection first; once the forgivable funds are exhausted, repayable loan proceeds will be subject to accelerated repayment.

• If there are multiple buildings on one parcel, either freestanding or separated by a firewall or party wall, each building is eligible for separate awards under the Forgivable loan program.For those projects that include multiple buildings on contiguous parcels under one ownership, special considerations may be made regarding award amount per parcel.

• Con-Vey was awarded a $40K SRF Forgivable loan in July 2016 to purchase adjacent property to their Roseburg facility and expand their manufacturing capacity.

• Forgivable loan awards are subject to annual availability based on federal subsidy limitations identified in annual program capitalization grants to the State.

• Forgivable loan awards are available for all SDWRLF funded projects.

More Definitions of Forgivable loan

Forgivable loan. So long as no uncured Events of Default have occurred under any of the Loan Documents securing the Note, the loan principal amount of up to Two Hundred Three Thousand and no/100 Dollars ($203,000.00) shall be forgiven in increments of one-fifteenth (1/15) each year during the Term, with each increment of forgiveness occurring on the anniversary date of the final Loan disbursement..

Forgivable loan means a form of an award made by the IDED to the Business under a Funding Agreement(s) for which repayment is eliminated in part or entirely if the Business satisfies the terms of this Contract and the Funding Agreement(s).

Forgivable loan. So long as no uncured Event of Default has occurred under the Loan Agreement, this Note, the Deed of Trust, or any other document or instrument pertaining to the loan (the “Loan Documents”), no interest shall be charged or accrue to the loan amount. The borrower shall make no payments of principal during the first twenty (20) years of the loan. The principal shall be forgiven in equal annual increments over the 20 year loan period.

Forgivable loan means a loan with no repayment obligation if program requirements are met for a specified period of time.

Forgivable loan means financial assistance in the form of cash payments to recipients for reim- bursement of eligible project expenses. Repayment of loan moneys awarded will be forgiven if the recipient has met all identified project goals, milestones and conditions identified in the written agree- ment between the department and the recipient or as amended by written agreement.

Forgivable loan meansa loan with no repayment obligation if requirements of the loan are met for a specified period of time.

Forgivable loan means a form of an Award made by IEDA to the Recipient for which repayment is eliminated in part or entirely if the Recipient satisfies the terms of this Contract.