Unforgiven PPP Loan Amount definition
Unforgiven PPP Loan Amount as set forth in Appendix A of the Original Agreement shall be deleted in their entirety and replaced with the following (as applicable):
Unforgiven PPP Loan Amount means the amount, if any, by which the PPP Loan Amount as of the Closing Date exceeds the PPP Loan Forgiveness Amount.
Unforgiven PPP Loan Amount has the meaning set forth in Section 5.22.
Examples of Unforgiven PPP Loan Amount in a sentence
In the event that any portion of the PPP Loan is not forgiven (any such amount which is not forgiven, the “Unforgiven PPP Loan Amount”), the PPP Lender will be entitled to recover such Unforgiven PPP Loan Amount from the PPP Escrow Fund and, if such Unforgiven PPP Loan Amount is less than the amounts then in the PPP Escrow Fund (such remainder, the “PPP Escrow Remainder”), the PPP Lender will release the PPP Escrow Remainder to the Company (prior to Closing) or Atlas (after the Closing), as applicable.