Criminal and Civil Matters. To the best of Lender’s knowledge, neither Lender nor any of its affiliates, subsidiaries, officers, directors and any person who, directly or indirectly, holds a pecuniary interest in the Lender of 20% or more: (i) have any criminal convictions incident to the application for or performance of a state contract or subcontract, and (ii) have any criminal convictions or have been held liable in any civil proceeding that negatively reflects on the person’s business integrity, including without limitation, based on a finding of embezzlement, theft, forgery, bribery, falsification or destruction of records, receiving stolen property or violation of state or federal antitrust statutes.
Criminal and Civil Matters. Neither the Borrower nor or any of its affiliates, subsidiaries, officers, directors and any person who, directly or indirectly, holds a pecuniary interest in the Borrower of 20% or more: (i) have any criminal convictions incident to the application for or performance of a state contract or subcontract, and
Criminal and Civil Matters. Neither the Borrower nor or any of its affiliates, subsidiaries, officers, directors and any person who, directly or indirectly, holds a pecuniary interest in the Borrower of 20% or more: (i) have any criminal convictions incident to the application for or performance of a state contract or subcontract, and (ii) have any criminal convictions or have been held liable in any civil proceeding that negatively reflects on the person’s business integrity, including without limitation, based on a finding of embezzlement, theft, forgery, bribery, falsification or destruction of records, receiving stolen property or violation of state or federal antitrust statutes. PROGRAM REQUIREMENTS Borrower Size. Borrower does not have more than 750 employees. Business Purpose. The Loan proceeds must be used for a “business purpose.” A business purpose includes, but is not limited to, start up costs, working capital, business procurement, franchise fees, equipment, inventory, as well as the purchase, construction renovation or tenant improvements of an eligible place of business that is not for passive real estate investment purposes. The definition of business purpose excludes activities that relate to acquiring or holding passive investments such as commercial real estate ownership, the purchase of securities; and lobbying activities as defined in Section 3(7) of the Lobbying Disclosure Act of 1995, P.L. 104-65, as amended. Prohibited Use of Loan. The loan proceeds will not be used: for any impermissible purpose under the SSBCI or the SSBCI-MCSP, including any impermissible purposes set forth in Appendix A, Section B(4); to repay delinquent Federal or State income taxes unless the borrower has a payment plan in place with the relevant taxing authority; to repay taxes held in trust or escrow, e.g. payroll or sales taxes; to reimburse funds owed to any owner, including any equity injection or injection of capital for the business’ continuance; or to purchase any portion of the ownership interest of any owner of the business.
Criminal and Civil Matters. Neither the Borrower nor or any of its affiliates, subsidiaries, officers, directors and any person who, directly or indirectly, holds a pecuniary interest in the Borrower of 20% or more: (i) have any criminal convictions incident to the application for or performance of a state contract or subcontract, and (ii) have any criminal convictions or have been held liable in any civil proceeding that negatively reflects on the person’s business integrity, including without limitation, based on a finding of embezzlement, theft, forgery, bribery, falsification or destruction of records, receiving stolen property or violation of state or federal antitrust statutes. Prohibited Use of Loan. The loan proceeds will not be used: for any impermissible purpose set forth in Appendix A, Section A(5); to repay delinquent Federal or State income taxes unless the borrower has a payment plan in place with the relevant taxing authority; to repay taxes held in trust or escrow, e.g. payroll or sales taxes; to reimburse funds owed to any owner, including any equity injection or injection of capital for the business’ continuance; or to purchase any portion of the ownership interest of any owner of the business.
Criminal and Civil Matters
