PPP Borrowers definition

PPP Borrowers means AgileThought, 4th Source, AN USA and AGS Alpama Global Services USA, LLC.
Sample 1Sample 2Sample 3
PPP Borrowers means RE/MAX North Central, RE/MAX Promotions, RE/MAX New England, and RE/MAX Indiana.
Sample 1

Examples of PPP Borrowers in a sentence

  • Cohen and WolfFortunately, on October 2, 2020 the SBA published a procedural notice that provides guidance on “changes of ownership” for PPP Borrowers (the Procedural Notice).

  • Trump Says Should Be Possible to Allow PPP Borrowers More Time to Use Loans,” Reuters, May 18, 2020, https://www.reuters.com/article/us-health-coronavirus-usa-ppp/trump-says-should-be-possible-to-allow-ppp- borrowers-more-time-to-use-loans-idUSKBN22U2ST.viable.

  • SBA Procedural Notice on PPP Borrower Resubmissions of Loan Forgiveness Applications Using Form 3508S, Lender Notice Responsibilities to PPP Borrowers, and Offset of Remittances to Lenders for Lender Debts (January 15, 2021) 21.

  • PPP Borrowers 35.6 38.9 1.7 50.0 77.6 86.7 2.5 92.9 SBA Standard SBA Standard Less Than 500 Employees Less Than 500 Employees NAICS Code 72 NAICS Code 72 Any Any 0 10 20 30 40 50 Percent of Public Firms 0 20 40 60 80 100 Percent of PPP Borrowers Figure 1.

  • On or around May 5, 2020, the PPP Borrowers incurred the PPP Loans in breach of Section 11.1 of the Credit Agreement and in breach of a substantially similar covenant set forth in certain Second Lien Loan Documents and, as a result, Events of Default have occurred and are continuing under Sections 13.1.3 and 13.1.5 of the Credit Agreement (collectively, the “Specified Defaults”).

  • McCartin, SBA Change of Control Guidance Does Not Work for Insolvent PPP Borrowers, FOLEY & LARDNER LLP: INSIGHTS BLOG (Dec.

  • Unless otherwise expressly agreed by the L/C Issuer and the applicable Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), (i) the rules of the ISP shall apply to each standby Letter of Credit, and (ii) the rules of the Uniform Customs and Practice for Documentary Credits, as most recently published by the International Chamber of Commerce at the time of issuance, shall apply to each commercial Letter of Credit.

  • On or around May 5, 2020, the PPP Borrowers incurred the PPP Loans in breach of Section 11.1 of the Credit Agreement and in breach of a substantially similar covenant set forth in the Senior Credit Facility Documents and, as a result, Events of Default have occurred and are continuing under Sections 13.1.3 and 13.1.5 of the Credit Agreement (collectively, the “Specified Defaults”).

  • Second Draw PPP Borrowers: There are several documentation options to support the 25% revenue reduction comparison.

  • October 29, 2020 Disclaimer • As a Borrower under the Paycheck Protection Program, it is your sole legal responsibility to comply with all laws and regulations applicable to Borrowers under the Small Business Administration Paycheck Protection Program (SBA PPP).• Liberty Bank urges SBA PPP Borrowers to closely review the latest SBA PPP law, regulations and guidelines (Guidelines).

Related to PPP Borrowers

  • Co-Borrowers means Wholly Owned Restricted Subsidiaries organized in any Applicable Jurisdiction from time to time designated by the Borrower to the Administrative Agent as “borrowers” with respect to Borrowings in accordance with Section 11.01, and “Co-Borrower” means any one of them.

  • Canadian Borrowers has the meaning specified in the preamble to this Agreement.

  • UK Borrowers shall have the meaning assigned to such term in the preamble hereto.

  • U.S. Borrowers shall have the meaning provided in the first paragraph of this Agreement.

  • U.S. Borrower means any Borrower that is a U.S. Person.

  • Subsidiary Borrowers as defined in the preamble hereto.

  • Canadian Borrower as defined in the preamble hereto.

  • Borrowers each has the meaning specified in the introductory paragraph hereto.

  • Foreign Borrowers means the Canadian Borrower, the Dutch Borrower, and the U.K. Borrowers.

  • Co-Borrower shall have the meaning assigned to such term in the introductory paragraph of this Agreement.

  • Borrower Group has the meaning provided in Section 10(c) hereof.

  • Borrower/s means and refers to jointly and severally to the Applicants (more particularly described in the Application Form) who has/have been sanctioned/granted/disbursed the Loan by ABFL pursuant to the relevant Application Form submitted by such applicants to ABFL for availing of the Loan and depending upon the nature of the Borrower/s, shall, unless repugnant to the context or meaning thereof, be deemed to include his/her legal heirs, executors and administrators;

  • Domestic Borrower means any Borrower organized under the laws of the United States of America or any state of the United States of America.

  • Canadian Credit Party means the Canadian Borrower and each Canadian Subsidiary Guarantor.

  • UK Borrower means any Borrower (i) that is organized or formed under the laws of the United Kingdom or (ii) payments from which under this Agreement or any other Loan Document are subject to withholding Taxes imposed by the laws of the United Kingdom.

  • Parent Borrower as defined in the preamble hereto.

  • Canadian Borrowing Base means, at any time, an amount in Dollars equal to:

  • Lead Borrower has the meaning assigned to such term in the preamble of this Agreement.

  • German Borrower means (a) any Borrower that is a resident for tax purposes in Germany and (b) any Borrower in respect of which written notice is given to the Administrative Agent (by the Company) prior to that Borrower becoming a Borrower hereunder that such Borrower is resident in Germany for German tax purposes.

  • Canadian Loan Parties means the Canadian Borrower and the Canadian Guarantors.

  • Subsidiary Borrower means, individually and collectively, as the context requires, each Subsidiary that is or becomes a “Borrower” in accordance with Section 2.22; in each case, unless and until it becomes a “Terminated Subsidiary Borrower”.

  • Borrower as defined in the preamble hereto.

  • The Borrower has advised the Banks that the Borrower has entered into an Agreement and Plan of Merger and Reorganization, dated as of February 10, 2000 (the "Merger Agreement"), among the Borrower, Opticare Health Systems, Inc. (the "Parent"), and OC Acquisition Corp., a wholly-owned subsidiary of the Parent ("Merger Sub"), pursuant to which the parties intend to merge Merger Sub with and into the Borrower subject to the terms and conditions thereof which include, among other things, restructuring the Obligations owing to the Banks on terms and conditions mutually agreed upon by the Borrower and the Banks. While the Borrower and the Banks have initiated discussions and due diligence concerning the Merger and any proposed restructuring of the Obligations, the Borrower acknowledges that the Banks have not consented to the Merger nor have the Banks agreed to any terms and conditions relating to any restructuring of the Obligations. In the meantime, however, the Borrower intends to continue to sell the remaining physician practice management groups operated by the Borrower and its Subsidiaries (collectively being referred to herein as the "PPM Businesses") and use a portion of the proceeds from the sale of the PPM Businesses to meet its reasonable and necessary operating expenses. To afford the Borrower an opportunity to proceed with the transactions described above, the Borrower has requested that (i) the Banks extend the temporary waiver period provided for in Sections 2.1 and 2.2 of that certain Seventh Amendment and Waiver to Credit Agreement dated as of December 10, 1999, among the Borrower, the Banks, and the Agent (the "Seventh Amendment") (as further amended, in part, by a December 30, 1999, letter agreement, a February 29, 2000, letter agreement, a March 24, 2000, letter agreement, and an April 14, 2000, letter agreement, and a May 5, 2000, letter agreement, in each case between the Borrower, the Banks and the Agent) and, in addition, that the Banks temporarily waive any non-compliance by the Borrower as of December 31, 1999, and as of March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements, in each case to the earlier of June 2, 2000, or the termination of the Merger Agreement pursuant to its terms (the earlier of such dates being referred to herein as the "Waiver Termination Date"), (ii) Bank of Montreal extend the Bridge Loan Period from May 19, 2000, to the Waiver Termination Date, and (iii) postpone the due date for the payment of principal, interest and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date. By signing below, the Banks (including Bank of Montreal with respect to the Bridge Loan Commitment) hereby agree to extend the waiver period provided in Sections 2.1 and 2.2 of the Seventh Amendment from May 19, 2000, to the Waiver Termination Date, temporarily waive any non-compliance by the Borrower as of December 31, 1999, and March 31, 2000, with Sections 8.8 (Total Funded Debt/Adjusted EBITDA Ratio), 8.10 (Interest Coverage Ratio), and 8.11 (Debt Service Coverage Ratio) of the Credit Agreement and the Borrower's non-compliance with Section 8.5(b) of the Credit Agreement with respect to the timely delivery of the Borrower's March 31, 2000, financial statements through the period ending on the Waiver Termination Date, agree to extend the Bridge Loan Period to the Waiver Termination Date, and agree to postpone the due date for the payment of principal, interest, and unused commitment fees otherwise due on or before May 19, 2000, to the Waiver Termination Date, provided that:

  • Revolving Administrative Agent has the meaning assigned to such term in the preamble of this Agreement.

  • Canadian Loan Party means any Loan Party organized under the laws of Canada or any province or territory thereof.

  • Domestic Credit Party means any Credit Party that is organized under the laws of any State of the United States or the District of Columbia.