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
This Loan is issued as a 100% Principal Forgiveness Loan pursuant to the current Capitalization Grant, and the principal amount of the Loan shall be forgiven, as set forth in Paragraph (6) of Exhibit B attached hereto and made a part hereof.
More Definitions of Principal Forgiveness
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, or a portion of a loan, from the State Water Board that is anticipated to be forgiven with no principal and interest due at completion of the project.
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 forgiveness upon Loan Closing of the Governmental Agency’s obligation to repay 100% of the principal amount of the Loan, to be effectuated as provided in paragraph (6) of Exhibit B, attached hereto and made a part hereof.