Paycheck Protection Program definition

Paycheck Protection Program means loan program created by Section 1102 of the CARES Act.

Paycheck Protection Program means the Paycheck Protection Program under the CARES Act.

Paycheck Protection Program means the Paycheck Protection Program under the Coronavirus Aid, Relief, and Economic Security Act.

Examples of Paycheck Protection Program in a sentence

• All Indebtedness of the Company issued pursuant to the Paycheck Protection Program, if any, has been forgiven in full in accordance with applicable Law prior to the date of this Agreement.

• Such criteria may include businesses facing financial insecurity, substantial declines in gross receipts (e.g., comparable to measures used to assess eligibility for the Paycheck Protection Program), or other economic harm due to the pandemic, as well as businesses with less capacity to weather financial hardship, such as the smallest businesses, those with less access to credit, or those serving disadvantaged communities.

• It is hereby understood and agreed by the Loan Parties, Agents and the Lenders that any forgiveness of any loan incurred pursuant to the Paycheck Protection Program shall not result in any increase to Consolidated Net Income or Consolidated EBITDA under the Loan Documents.

More Definitions of Paycheck Protection Program

Paycheck Protection Program means that certain loan program originating from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Pub. L. 116-136, 135 Stat 281.

Paycheck Protection Program means the Paycheck Protection Program established under the CARES Act.

Paycheck Protection Program means the Paycheck Protection Program established under Section 1102 of the CARES Act, as implemented from time to time by the SBA.

Paycheck Protection Program means the Paycheck Protection Program of the CARES Act, as implemented pursuant to any interim final rule (together with any further interim rule and final rule, and all guidance issued by the SBA with respect to Paycheck Protection Program loans) which provides for the forgiveness of a loan under such program for qualified expenses incurred during an eight-week period commencing on the date on which such PPP Loan is advanced.

Paycheck Protection Program means the Paycheck Protection Program available to certain eligible applicants pursuant to Section 1102 and 1106 of the CARES Act, including any rules or regulations promulgated thereunder and, in each case, as amended from time to time.

Paycheck Protection Program means the Paycheck Protection Program established pursuant to Title I (Keeping American Workers Paid and Employed Act) of the Coronavirus Aid, Relief, and Economic Security Act enacted on March 27, 2020, as amended.

Paycheck Protection Program or “PPP” means the Paycheck Protection Program established pursuant to the CARES Act and administered by the U.S. Small Business Administration pursuant to the Small Business Act of 1953, 15 U.S.C. § 631 et seq., as amended.