PPP Loan Escrow Amount definition

PPP Loan Escrow Amount has the meaning set forth in Section 2.04(a)(v).

PPP Loan Escrow Amount means an amount equal to the outstanding principal balance and accrued interest in respect of the PPP Loan to the extent not forgiven as of the Effective Time.

PPP Loan Escrow Amount means the amount outstanding under the PPP Loan as of the Closing Date.

Examples of PPP Loan Escrow Amount in a sentence

• At the Closing, the PPP Loan Escrow Amount shall be withheld from the Aggregate Merger Consideration and deposited into the escrow account designated by the PPP Lender pursuant to the PPP Escrow Agreement to pay for all or any portion of the PPP Loan that is not forgiven by the U.S. Small Business Administration following the Closing.

• The Purchaser shall fund into the PPP Loan Escrow Account, in cash by direct wire transfer, the PPP Loan Escrow Amount pursuant to Section 2.1.1(ii)(d).

• For the avoidance of doubt, if the PPP Loans are not forgiven, neither Buyer nor any Group Company shall have any obligation to Seller for any portion of the PPP Loan Escrow Amount.

• Notwithstanding the foregoing, for the avoidance of doubt, under no circumstances will the Buyer or any Company Entity be required to make any payments in respect of any PPP Loan other than through a disbursement of the PPP Loan Escrow Amount.

More Definitions of PPP Loan Escrow Amount

PPP Loan Escrow Amount means an amount in cash equal to all accrued principal and interest under the PPP Loan.

PPP Loan Escrow Amount is defined in Section 6.11(a).

PPP Loan Escrow Amount means an amount equal to $810,961.49. Certain information has been excluded from this agreement (indicated by “[***]”) because such information (i) is not material and (ii) would be competitively harmful if publicly disclosed.

PPP Loan Escrow Amount is defined in Section 2.2(c) of this Agreement.

PPP Loan Escrow Amount means $2,025,695.90.

PPP Loan Escrow Amount. $3,422,200, less any principal amount of the PPP Loan that has been forgiven by the SBA or repaid by London, together with accrued interest through the maturity date for the PPP Loan.

PPP Loan Escrow Amount means (i) if there is any Indebtedness owed by the Acquired Companies on the PPP Loan as of the Closing, then the aggregate amount of such Indebtedness as of the Closing plus an amount equal to the amount of interest that would be accrued on such Indebtedness as of the maturity date of the PPP Loan plus an amount equal to the fees payable to the PPP Loan Escrow Agent; and (ii) in all other cases, $0.