Principal Forgiveness definition

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

Examples of Principal Forgiveness in a sentence

The SDWLP shall then apply the amount it receives as a Loan prepayment or as a recovery of a Loan disbursement with Principal Forgiveness (if there is no outstanding Loan principal balance available to which the recovery may be applied).
As evidence of the portion of the Loan made to the Municipality remaining subsequent to the Principal Forgiveness, the Municipality hereby agrees to sell to the SDWLP Municipal Obligations in the aggregate principal amount of $622,856.
Principal Forgiveness will be applied at the time of Loan disbursement.
The payment amounts shown on Exhibit B are for informational purposes only and assume the full amount of the Municipal Obligations is disbursed and that the full amount of Principal Forgiveness available is applied to the Loan on January 22, 2020.

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 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.

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

Principal Forgiveness means Financial Assistance received in the form of forgiveness of Loan principal pursuant to the Act, Regulations, and this FAA of which no repayment thereof shall be required except as may be required pursuant to the Act, Statute, Regulations, or this FAA. The amount of principal forgiveness available for this Project as of the date of this FAA is $750,000. The applicable percentage of principal forgiveness for this Project, as shown on the Final Funding List, is 55%.

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