PPP Note definition

PPP Note means the Unsecured note dated as of May 8, 2020 between SAE Inc. and Texas Champions Bank.
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PPP Note means the Note, dated as of April 14, 2020, issued by VWE to Bank of the West, in the original principal amount of $6,524,977, issued pursuant to the loan program known as the Paycheck Protection Program under the CARES Act;
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PPP Note means that certain Paycheck Protection Program Term Note, dated as of April 17, 2020, made by the Company in favor of the PPP Lender in the original principal amount of $3,255,925.00.
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Examples of PPP Note in a sentence

  • In accordance with the requirements of the CARES Act, the Affiliates used the proceeds from the PPP Note primarily for payroll and other eligible costs.

  • On April 5, 2022, the Borrower was granted forgiveness of the entire PPP Note and any accrued interest.

  • In March 2021, the Borrower applied to Customers Bank for forgiveness of the amount due on the PPP Note in an amount equal to the sum of payroll and other eligible costs incurred during the Covered Period, as defined therein, following disbursement under the PPP Note.

  • The PPP Note contains customary events of default relating to, among other things, payment defaults, providing materially false and misleading representations to the SBA or Lender, or breaching the terms of the PPP Loan documents.

  • The Borrower received total proceeds of $486,602 from the PPP Note of which $87,048 was attributable to the Company under the SBA’s loan determination formula.

  • The PPP Note contained customary events of default relating to, among other things, payment defaults, providing materially false and misleading representations to the SBA or Lender, or breaching the terms of the PPP Loan documents.

  • The Borrower received total proceeds of $486,602 from the PPP Note of which $17,992 was attributable to the Company under the SBA’s loan determination formula.

  • The Company believes it has used the entire PPP Note amount for qualifying expenses and applied for forgiveness in March 2021, however, until forgiveness is approved by the SBA there is no assurance that the Company will obtain forgiveness of the PPP Loan in whole or in part.

  • The proceeds from the PPP Note may only be used for payroll costs (including benefits), interest on mortgage obligations, rent, utilities and interest on certain other debt obligations.

  • On May 7, 2021, the principal and accrued interest amounts outstanding of approximately $2.9 million under the PPP Note had been forgiven.


More Definitions of PPP Note

PPP Note means that certain Note, dated as of April 14, 2020 issued by the Company to Bank of West, in the original principal amount of $6,524,977, issued pursuant to the loan program known as the Paycheck Protection Program under the CARES Act.
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PPP Note means that certain U.S. Small Business Administration Note dated May 6, 2020 between the Company and Town Center Bank. “Preferred Stock Conversion” has the meaning specified in Section 8.02(f).
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PPP Note means the Unsecured note dated as of May 8, 2020 between SAE Inc.
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PPP Note means that certain Note, dated as of April 28, 2020, made by the Company in favor of the PPP Loan Lender in the original principal amount of $6,925,600.
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PPP Note means that certain U.S. Small Business Administration Note dated May 6, 2020 between the Company and Town Center Bank.
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Related to PPP Note

  • New Note shall have the meaning assigned to such term in Section 38.

  • Note means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form of Exhibit C.

  • Subordinated Note means the Subordinated Note (or collectively, the “Subordinated Notes”) in the form attached as Exhibit A hereto, as amended, restated, supplemented or modified from time to time, and each Subordinated Note delivered in substitution or exchange for such Subordinated Note.

  • RMB Note means a Note denominated in Renminbi.

  • SPECIAL NOTE State agencies may make purchases under this Requirements Contract up to $2500.00 using the state of Ohio payment card. Any purchase that exceeds $2500.00 will be made using the official state of Ohio purchase order (ADM- 0523). Any non-state agency, institution of higher education or Cooperative Purchasing member will use forms applicable to their respective agency.

  • Bridge Note means any promissory note issued by Borrower pursuant to the terms of the Bridge Note Agreement.

  • B Note means a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a B Advance made by such Lender.

  • Contract Note means a promissory note of the Borrower payable to the order of a Lender, in substantially the form of Exhibit 1.01A hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Contract Advances made by such Lender to the Borrower.

  • debit note means a document issued by a registered person under sub-section (3) of section 34;

  • Borrower Note means the “Borrower Note” as defined in the Borrower Loan Agreement.

  • Supplemental Note means, for each Supplemental Loan (whether one or more), if any, the Multifamily Note secured by the Supplemental Instrument for that Supplemental Loan.

  • Original Note shall have the meaning assigned to such term in the recitals.

  • Restricted Certificated Note means a Certificated Note bearing the Private Placement Legend.

  • Existing Note means a Note (as defined in the Existing Credit Agreement) that is issued and outstanding immediately prior to the effectiveness of this Agreement.

  • Revolving Note means a promissory note of the Borrower payable to a Lender in substantially the form of Exhibit 11.1(d) hereto, evidencing Indebtedness of the Borrower under the Revolving Loan Commitment of such Lender.

  • Surplus Note means a promissory note executed by an Insurance Subsidiary of the type generally described in the insurance industry as a “surplus note”, the principal amount of which an insurance regulator permits the issuer to record as an addition to capital and surplus rather than as a liability in accordance with SAP.

  • Revolver Note means any one of such Revolver Notes.

  • Note A shall have the meaning assigned to such term in the recitals.

  • Defeased Note shall have the meaning set forth in Section 2.4.1(a)(v) hereof.

  • Term Note means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.

  • of a Note means the principal of the Note plus the premium, if any, payable on the Note which is due or overdue or is to become due at the relevant time.

  • Fixed Rate Note means a Note on which interest is calculated at a fixed rate payable in arrear on a fixed date or fixed dates in each year and on redemption or on such other dates as may be agreed between the Issuer and the relevant Dealer(s) (as indicated in the applicable Final Terms);

  • Certificated Note means a Note in registered individual form without interest coupons.

  • Retained Note means any Notes held by the Issuer (or any other person treated as the same person as the Issuer for U.S. federal income tax purposes), but only so long as such Notes are held by such entity, until such time as such Notes are transferred in accordance with the terms and conditions of Section 2.04 of the Indenture.

  • Seller Note means the promissory note evidencing Xxxxxxxx’s repayment obligations in respect of the Seller Loan.

  • Underlying Note means the one or more promissory notes executed by an obligor evidencing a Loan.

Most Referenced Clauses

Most Referenced Definitions