Loan Forgiveness definition

Loan Forgiveness means any reduction of the principal amount of the Loans or other action or arrangement that, in the good faith determination of Buyer, could reasonably be expected to result in violation of the prohibition on loan forgiveness set forth in Section 4003(d)(3) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, as it may be amended from time to time, it being agreed and understood that Buyer may conclusively rely on legal counsel (including internal counsel) selected or accepted in good faith by ▇▇▇▇▇ in making any such determination; provided, that the addition of higher priority “priming” liens in a proceeding under any Debtor Relief Law, reductions in interest, including any PIK Interest, and extensions of amortization schedules and maturity dates shall not be deemed to be “Loan Forgiveness” hereunder.
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Loan Forgiveness means the partial or complete cancellation of a Math & Science Teacher Loan, as described elsewhere in these rules.
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Loan Forgiveness means the cancellation and forgiveness under
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Examples of Loan Forgiveness in a sentence

  • Employees participating in the Public Service Loan Forgiveness (PSLF) program will continue to be assisted by their Human Resources Office to certify and recertify employment for the PSLF Employment Certification.

  • Absent such timely consent or other direction (including the withholding of such consent) from Buyer, Seller shall be entitled (but not required), in its sole discretion, to deem that Buyer has given its consent to take (or refrain from taking) any Core Rights Act on behalf of Buyer with respect to such matters other than a Core Rights Act that would result in any Loan Forgiveness; provided, however, that in doing so, Seller shall act in good faith and subject to the provisions of Section 12.

  • All amounts of Executive Loan Forgiveness and EBITDA Bonus shall be calculated based on the Corporation's financial statements at the end of each fiscal year during the Three-Year Fiscal Period.

  • The Employer shall consider any employee furloughed under this MOU to be a full-time employee for certification of the Federal Public Service Loan Forgiveness program, and shall sign any necessary certification.

  • Paraprofessionals receiving reimbursement for tuition under this paragraph agree that they will not apply for student loan forgiveness from the Federal Loan Forgiveness Program for loans applied to tuition credit for which reimbursement under this paragraph was received.

  • Interest on the Loan accruing during the term of the Loan shall be compounded annually and shall be deferred until the Loan Forgiveness Date.

  • All earned portions of the Executive Loan Forgiveness and the EBITDA Bonus must be received by the Executive (i) within forty-five (45) days of the end of each fiscal quarter and (ii) within sixty (60) days of the end of each fiscal year.

  • The outstanding principal and accrued interest under the Loan shall automatically and without further action on the part of the Company or the Executive be forgiven in full by the Company, provided the Executive remains employed by the Company through the Loan Forgiveness Date.

  • Loan forgiveness and repayment benefits shall be subject to the terms and conditions of the Hospital’s Loan Forgiveness Policy, and the agreements of the Hospital’s Loan Forgiveness Application.

  • Annually, the Employer and the Union shall, jointly email all bargaining unit employees information from the UW Benefits website regarding the Public Service Loan Forgiveness (PSLF) program.


More Definitions of Loan Forgiveness

Loan Forgiveness has the meaning set forth in Section 7.3(e).
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Loan Forgiveness. IS has the following loans outstanding to N2P: (a) a loan from N2P with an initial principal amount of $298,438 (the "IPO Loan"), and (b) a $1.2 million line of credit from N2P with respect to which IS borrowed the entire amount (the "N2P Line of Credit") (the loans set forth above, and all accrued interest on such loans, the "Debt"). The Debt will be forgiven ratably in four equal installments upon the completion of each the first four years of the consulting period described in paragraph 2 hereof. Such Debt forgiveness and waiver shall be accelerated upon change in control of N2P (as defined in N2P's 1999 Stock Option and Incentive Plan) occurring after the date of this Separation Agreement.
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Loan Forgiveness means any reduction of the principal amount of the Loans or other action or arrangement that, in the good faith determination of Buyer, could reasonably be expected to result in violation of the prohibition on loan forgiveness set forth in Section 4003(d)(3) of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, as it may be amended from time to time, it being agreed and understood that Buyer may conclusively rely on legal counsel (including internal counsel) selected or accepted in good faith by Buyer in making any such determination; provided, that the addition of higher priority “priming” liens in a proceeding under any Debtor Relief Law, reductions in interest, including any PIK Interest, and extensions of amortization schedules and maturity dates shall not be deemed to be “Loan Forgiveness” hereunder.
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Loan Forgiveness. Borrower may apply to Lender for forgiveness of the amount due on this Loan in an amount equal to the sum of the following costs incurred by Borrower during the 8-week period beginning on the date of first disbursement of this Loan:
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Loan Forgiveness. HB has the following loans outstanding to N2P and Adir: (1) a loan from N2P with an initial principal amount of $1,447,260, (2) a loan from N2P with an initial principal amount of $2 million, (3) a loan from Adir with an initial principal amount of $163,975 and (4) miscellaneous loans and advances in the aggregate amount of $750,000. In addition, N2P has guaranteed the repayment of $5 million borrowed by HB from Safra Bank. N2P shall repay such $5 million Safra loan on behalf of HB, (the repaid Safra loan and HB's guarantee thereof, together with the other loans set forth in the preceding sentence, and all accrued interest on such loans, the "Debt"). Upon the completion of the first 3 months of the consulting period described in paragraph 2 hereof, N2P and Adir will forgive and waive $2 million worth of the Debt. Upon the completion of 15 months of the consulting period described in paragraph 2 hereof, N2P and Adir will forgive and waive any of the remaining Debt. Such Debt forgiveness and waiver shall be accelerated upon change in control of N2P (as defined in N2P's 1999 Stock Option and Incentive Plan) occurring after the date of this Separation Agreement.
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Related to Loan Forgiveness

  • Loan Modification Agreement means a Loan Modification Agreement, in form reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Accepting Lenders, effecting one or more Permitted Amendments and such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.24.

  • Loan repayment means the cancellation and repayment of loans

  • Loan Modification Offer has the meaning specified in Section 2.24(a).

  • Loan Facility means the Revolving Loan Facility, the Transaction Specific Loan Facility or the Transaction Specific Revolving Loan Facility established by Lender in favor of Borrower under the Loan Documents.

  • Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Loans of such Lender; provided, at any time prior to the making of the Loans, the Loan Exposure of any Lender shall be equal to such Lender’s Commitment.