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 Xxxxx 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

  • Instructions for PPP Loan Forgiveness Calculation Form 3508EZ Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form (SBA Form 2483 or lender’s equivalent).

  • This application has the following components: (1) the PPP Loan Forgiveness Calculation Form; (2) PPP Schedule A; (3) the PPP Schedule A Worksheet; and (4) the (optional) PPP Borrower Demographic Information Form.

  • Other significant categories of expenses are Loan Forgiveness and Administrative Costs from Fees.

  • Instructions for PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form (SBA Form 2483, SBA Form 2483-SD, or lender’s equivalent).

  • This Bulletin provides information about the State-funded Regents Physician Loan Forgiveness Award Program.

  • Instructions for PPP Loan Forgiveness Calculation Form Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form (SBA Form 2483 or lender’s equivalent).

  • No additional forgiveness is provided for retirement or health insurance contributions for self-employed individuals, including Schedule C filers and general partners, as such expenses are paid out of their net self-employment income.4. Nonpayroll Costs Eligible for Loan Forgiveness a.

  • See subsection B.16 of SBA’s interim final rule posted on January 6, 2021 (86 FR 3692).Instructions for PPP Loan Forgiveness Calculation Form 3508EZ Business Legal Name (“Borrower”)/DBA or Tradename (if applicable)/Business TIN (EIN, SSN): Enter the same information as on your Borrower Application Form (SBA Form 2483, SBA Form 2483-SD, or lender’s equivalent).

  • All grantees and beneficiaries should independently consult with the U.S. Department of Education (and/or other sources) to learn how receipt of JRJ benefits may affect awards through the Public Service Student Loan Forgiveness Program.

  • For Planning Grants, Source Water Protection Grants, and Loan Forgiveness awards, once the municipality submits proof of vendor payment to the Agency, it is reimbursed for its project costs by the Program.


More Definitions of Loan Forgiveness

Loan Forgiveness has the meaning set forth in Section 7.3(e).
Sample 1
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:
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1

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.

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

  • Loan Repayments means the sum of (i) Trust Bond Loan Repayments, (ii) the Administrative Fee and (iii) any late charges incurred under the provisions of a Loan Agreement.

  • Investment Strategy Modification means with respect to an Investment Strategy, the Portfolio Administrator makes operational adjustments to the Investment Strategy to ensure that, so far as possible, the basic principles and economic effect of the Investment Strategy are maintained or any material modification to the Investment Strategy or its implementation by the Portfolio Administrator.

  • Delayed Draw Loan A Loan that requires one or more future advances to be made by the Borrower and which does not permit the re-borrowing of any amount previously repaid by the related Obligor; provided that such loan shall only be considered a Delayed Draw Loan for so long as any future funding obligations remain in effect and only with respect to any portion which constitutes a future funding obligation.

  • Permanent Loan means any permanent loan provided by the Permanent Lender to the Partnership pursuant to the terms of the Permanent Loan Documents.

  • Term Loan has the meaning specified in Section 2.01(b).

  • Refinancing Term Loan Commitments has the meaning assigned to such term in Section 2.26(a).

  • Delayed Draw Term Loan has the meaning specified in Section 2.01(b).

  • Term Loan Facilities means the Term Loan A Facility and the Term Loan B Facility.

  • Intercompany Advance Agreement The Intercompany Advance Agreement, dated as of September 11, 2009, between Ally Bank and Ally Auto, as amended, supplemented or modified from time to time.

  • Term Loan Facility means the Term Loan Commitments and the provisions herein related to the Term Loans.

  • Delayed Draw Term Loan Commitment means the Lender’s obligation to make the Delayed Draw Term Loan to the Borrower pursuant to Section 2.01(a), as such amount may be adjusted from time to time in accordance with this Agreement.

  • Revolving Loan Exposure means, with respect to any Revolving Lender, as of any date of determination (a) prior to the termination of the Revolver Commitments, the amount of such Lender’s Revolver Commitment, and (b) after the termination of the Revolver Commitments, the aggregate outstanding principal amount of the Revolving Loans of such Lender.

  • Tranche B Term Loan Exposure means, with respect to any Lender, as of any date of determination, the outstanding principal amount of the Tranche B Term Loans of such Lender.

  • Bridge Loan Any loan or other obligation that (x) is incurred in connection with a merger, acquisition, consolidation, or sale of all or substantially all of the assets of a Person or similar transaction and (y) by its terms, is required to be repaid within one year of the incurrence thereof with proceeds from additional borrowings or other refinancings (it being understood that any such loan or debt security that has a nominal maturity date of one year or less from the incurrence thereof but has a term-out or other provision whereby (automatically or at the sole option of the Obligor thereof) the maturity of the indebtedness thereunder may be extended to a later date is not a Bridge Loan).

  • Repayment Agreement means an agreement

  • Principal Credit Facility means any loan agreement, credit agreement, note purchase agreement, indenture or similar document under which credit facilities in the aggregate original principal or commitment amount of at least $20,000,000 are provided for.

  • Material Credit Facility means, as to the Company and its Subsidiaries,

  • Term Loans means, collectively, the Tranche A Term Loans and the Tranche B Term Loans.

  • Incremental Facility Agreement means an Incremental Facility Agreement, in form and substance reasonably satisfactory to the Administrative Agent, among the Borrower, the Administrative Agent and one or more Incremental Lenders, establishing Incremental Term Loan Commitments of any Series or Incremental Revolving Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.20.

  • Specified Refinancing Term Loans means Specified Refinancing Debt constituting term loans.