Principal Forgiveness means additional subsidization that allows a borrower to repay only a specified portion of the loan principal.

Principal Forgiveness means the portion of a loan that does not have to be repaid.

Principal Forgiveness means a loan wherein a portion of the loan amount is "forgiven" upon closing the loan. The terms for principal forgiveness will be as directed by section 4 of this rule and by the Drinking Water Board.

Examples of Principal Forgiveness in a sentence

The amount of Up-Front Principal Forgiveness set forth in Exhibit B, Part (4)(a), will not need to be repaid.
The Authority has determined to apply Up-Front Principal Forgiveness to the principal amount of the Loan in an amount identified in Exhibit B, Part (4)(a).
Exhibit C to the Loan Agreement sets forth the repayment schedule after allowing for the reduction of total Loan principal by the amount of Up-Front Principal Forgiveness applied.
The Project Sponsor agrees to the following estimates of the Project costs: CATEGORY PROJECT COSTS ($) Planning and Design Activities 1,265,602 Less Principal Forgiveness (615,301) SUBTOTAL (Loan Amount) 650,301 Capitalized Interest 3,400 TOTAL (Loan Principal Amount) 653,701 10.07.
Of that, the estimated amount of Principal Forgiveness is $615,301.

More Definitions of Principal Forgiveness

Principal Forgiveness means that a reduction of a percent- age of the total loan amount is not required to be paid back by the borrower. Principal forgiveness is applied when the project is com- plete.

Principal Forgiveness means the amount of money awarded pursuant to this Agreement and subsequent amendments that is not to be repaid.

Principal Forgiveness means that a reduction of a percentage of the total loan amount is not required to be paid back by the borrower. Principal forgiveness is applied when the project is complete.

Principal Forgiveness means that a reduction of up to fifty percent of the total loan amount is not required to be paid back by the borrower. For a DWSRF emergency loan, principal forgiveness is a reduction of up to seventy-five percent of the total loan amount. Principal for- giveness is applied when the project is complete.

Principal Forgiveness means a portion of the loan’s principal is forgiven and need not be repaid.

Principal Forgiveness means Financial Assistance received in the form of forgiveness of Loan principal amounts pursuant to the Act or this FAA.

Principal Forgiveness means a loan wherein a portion of the loan amount is forgiven (not required to be repaid) upon closing the loan.