PPP Indebtedness means, collectively, certain Indebtedness pursuant to the Paycheck Protection Program of the Small Business Administration (a) between Bank of America, as lender, and AgileThought, LLC, as borrower, in the original aggregate principal amount of $310,000, (b) between Bank of America, as lender, and AN USA LLC, as borrower, in the original aggregate principal amount of $42,000 and (c) between Bank of America, as lender, and AGS Alpama Global Services LLC, as borrower, in the original aggregate principal amount of $8,000.
PPP Indebtedness means any Indebtedness (including principal and accrued and unpaid interest) of the Company, including any penalties or premiums that would be associated with the full repayment and retirement of such Indebtedness, arising from any loan obtained by the Company pursuant to the PPP.
PPP Indebtedness means any Indebtedness of the Company or any of its Subsidiaries, whether outstanding, repaid or Forgiven, obtained by the Company or its Subsidiaries pursuant to the Paycheck Protection Program.
Examples of PPP Indebtedness in a sentence
The Company at all applicable times met the eligibility requirements for application and receipt of any PPP Indebtedness and at all applicable times has been in compliance with the CARES Act with respect to any PPP Indebtedness.
The Company’s prior PPP Indebtedness constituted one or more “covered loans” as defined in Section 1102(a)(2)(A) of the CARES Act.
The Company has made available complete and correct copies of the Company’s application for PPP Indebtedness, application for forgiveness of any PPP Indebtedness, all information submitted to the lender of any PPP Indebtedness in support thereof and a copy of the final approval of the forgiveness of all PPP Indebtedness.
Section 2.9(f) of the Disclosure Schedule sets forth all PPP Indebtedness that the Company and its Subsidiaries has ever had.
Company must take all actions necessary to preserve its eligibility for 100% loan forgiveness with respect to the PPP Indebtedness under the CARES Act (as may be amended, supplemented, or otherwise modified after the date hereof), including without limitation using, and properly documenting and reporting its use of, the proceeds of the PPP Indebtedness for payroll and other costs eligible for loan forgiveness under the CARES Act.
More Definitions of PPP Indebtedness
PPP Indebtedness means Indebtedness of the Credit Parties incurred under, or pursuant to, the Paycheck Protection Program contemplated by Section 1102 of the CARES Act.
PPP Indebtedness means $533,652 in principal amount of Indebtedness to Silicon Valley Bank in the form of a Small Business Administration Paycheck Protection Program (PPP) loan under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
PPP Indebtedness means Borrower’ Indebtedness pursuant to the Paycheck Protection Program implemented under the Coronavirus Aid, Relief and Economic Security Act of 2020.
PPP Indebtedness means Indebtedness of the Credit Parties incurred under, or pursuant to, the Paycheck Protection Program contemplated by Section 1102 of the CARES Act. “Prepayment Date” shall have the meaning set forth in the definition of “Applicable Make-Whole Amount.” “Prime Rate” shall have the meaning set forth in the definition of “Alternate Base Rate.” “Pro Forma Basis” shall mean, (i) for purposes of calculating Consolidated EBITDA for any period during which one or more Specified Transactions occurs, such Specified Transaction (and all other Specified Transactions that have been consummated during the applicable period) shall be deemed to have occurred as of the first day of the applicable period of measurement and income statement items (whether positive or negative) attributable to the property or Person subject to such Specified Transaction, (1) in the case of a Specified Disposition or other sale, transfer, or other disposition of all or substantially all Equity Interests in any Subsidiary of the Borrower or any division, product line, or facility used for operations of the Borrower or any of its Subsidiaries, shall be excluded, and (2) in the case of a Permitted Acquisition or Investment (including any Permitted Construction Transaction) described in the definition of “Specified Transaction,” shall be included (provided that such income statement items to be included are directly attributable to such transaction, reflected in financial statements or other financial data reasonably acceptable to the Administrative Agent and based upon reasonable assumptions and calculations which are factually supportable and expected to have a continuous impact and subject to clause (b)(vii) of the definition of “Consolidated EBITDA”); and (ii) in the event that the Borrower or any Restricted Subsidiary incurs (including by assumption or guarantees) or repays (including by redemption, repayment, retirement, discharge, defeasance or extinguishment) any Indebtedness included in the calculations of any financial ratio or test (in each case, other than Indebtedness incurred or repaid under any revolving credit facility in the ordinary course of business for working capital purposes), (i) during the applicable measurement period or (ii) subsequent to the end of the applicable measurement period and prior to or simultaneously with the event for which the calculation of any such ratio is made, then such financial ratio or test shall be calculated giving pro forma effect to such inc...
PPP Indebtedness means Indebtedness to Centennial Bank under the Promissory Note dated May 5, 2020 in the principal amount of $94,833.32 under the Paycheck Protection Program of the CARES Act.
PPP Indebtedness means that certain indebtedness in the original principal amount of $870,800 in favor of Gulf Coast Bank incurred in connection with a Section 7(a) loan under the Paycheck 9
PPP Indebtedness means the principal amount of $2,000,000 plus the accrued interest thereon borrowed by the Company from the PPP Lender pursuant to the terms and conditions of the SBA’s Paycheck Protection Program Term Note, dated January 29, 2021, issued pursuant to the terms and conditions promulgated by the SBA and/or the U.S. Department of Treasury concerning the PPP.