Forgiveness Period definition
Examples of Forgiveness Period in a sentence
Promptly, but in no event later than 6 weeks after the end of the Forgiveness Period, submit an application for loan forgiveness to Lender and promptly take all additional actions requested or demanded by the SBA in connection with such application for Forgiveness.
For the period of September 2016 through December 2016 (“Forgiveness Period”), the City hereby waives and releases Tenant from payment of Base Rent amounts owed to the City under the Agreement during the Forgiveness Period, in the total amount of $100,000.
Each of the County Entities will refund to Monsanto the PILOT Fee paid to that Public Entity for each tax year during the PILOT Fee Forgiveness Period (as that term is defined below) if, and only if, Monsanto demonstrates that it met the conditions applicable to that year as set forth in Exhibit A.
The other provisions of this Section 3 to the contrary notwithstanding and assuming that the Reduction Effective Date is November 1, 2010, Landlord and Tenant acknowledge that Base Rent for the Base Rent Forgiveness Period would be the sum of $62,585.30 (the “Total Base Rent Forgiveness Amount”), in the absence of the forgiveness of the Base Rent for such period.
Tenant’s obligation to pay rent and any late fees and interest on past due amounts is hereby waived and forgiven during the Forgiveness Period.
Following the end of the CAM Forgiveness Period Tenant shall be obligated to pay to Landlord on the first day of each calendar month thereafter one-twelfth (1/12th) of the estimated Additional Rent.
Tenant’s obligation to pay rent and any late fees and interest on past due amounts is hereby waived and forgiven during the Forgiveness Period; provided that Tenant was certified as a “local business enterprise” or “LBE” by the City’s Contract Monitoring Division (“CMD”) of the City’s General Services Agency under the program requirements set forth in SF Administrative Code Chapter 14B throughout the Forgiveness Period.
In the case of the Forgiveness Period expiring under (ii) above, base rent for the next month (the fourth (4th) month) will be due at the same time as the next percentage rent payment.
The City and each of the County Entities will refund to Operator the PILOT Fee paid to that Public Entity for each calendar year during the PILOT Fee Forgiveness Period (as that term is defined below) if, and only if, Operator demonstrates that it met the conditions applicable to that year as set forth in Exhibit B.
Upon the conclusion of the PPP Loan Forgiveness Period, the Parent shall notify the Shareholder Representative Group of the PPP Forgiven Loan Amount, and the Parent shall cause the Company to distribute an amount equal to such PPP Forgiven Loan Amount to the Shareholders in accordance with their Pro Rata Shares.