Examples of Related Borrower in a sentence
A separate interim final rule on SBA Loan Review Procedures and Related Borrower and Lender Responsibilities describes SBA’s procedures for reviewing PPP loan applications and loan forgiveness applications.c. Deferral Period and Forgiveness Section 3(c) of the Flexibility Act provides that if the borrower does not apply for forgiveness of a loan within 10 months after the last day of the covered period, the PPP loan is no longer deferred and the borrower must begin paying principal and interest.
Each Related Borrower Party is in compliance in all material respects with OFAC, Sanctions, Anti-Terrorism Laws, United States Foreign Corrupt Practices Act of 1977 and Foreign Asset Control Regulations.
Each Borrower shall, and shall cause each Related Borrower Subsidiary to, keep proper books of record and accounts in conformity in all material respects with GAAP.
Each Related Borrower Party has filed all federal, state and local Tax returns and other reports that it is required by law to file, and has paid, or made provision for the payment of, all Taxes upon it, its income and its Properties that are due and payable, except to the extent being Properly Contested or could not reasonably be expected to have a Material Adverse Effect.
Each Related Borrower Subsidiary is classified, for U.S. federal income Tax purposes, either as an entity disregarded as separate from its owner, a partnership, a QRS or a TRS.