Forgivable Principal definition

Forgivable Principal means the portion of a loan that is not required to be paid back by the borrower.
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Forgivable Principal means the portion of a loan made by the department that is not required to be paid back by the borrower if allowable by Congress through federal appropriation.
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Forgivable Principal means the portion of a loan made by the department that is not required to be paid back by the borrower if al- lowable by the act or Congress through federal appropriation.
Sample 1Sample 2Sample 3

Examples of Forgivable Principal in a sentence

  • RECIPIENTS funded with State Revolving Fund Loan or Forgivable Principal shall include the following verification statement in the “General Comments” text box of each progress report.

Related to Forgivable Principal

  • Note A-2 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Principal Debt means, for a Lender and at any time, the unpaid principal balance of all outstanding Borrowings from such Lender hereunder.