Forgivable Loan Amount definition

Forgivable Loan Amount means $975,101. “Section 2A. Loan Amount” means $3,725,658.
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Forgivable Loan Amount means $180,000. “Section 2A. Loan Amount” means $5,849,100. “Interest Rate” means 2.90% per annum.
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Forgivable Loan Amount means $530,000. “Section 2A. Loan Amount” means $3,500,000. “Interest Rate” means 1% per annum.
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Examples of Forgivable Loan Amount in a sentence

  • A non-revolving loan in an aggregate principal amount not to exceed the Forgivable Loan Amount.

  • Subject to satisfaction by Recipient of any special conditions in Exhibit C, if Recipient completes the Project by the Project Completion Deadline in accordance with the terms of this Contract, and provided that no Event of Default has occurred, OBDD shall, 90 days after the Project Completion Date, forgive repayment of the Forgivable Loan Amount and any interest accrued thereon and cancel the Forgivable Loan.

  • Absent manifest error, such notations will be conclusive evidence for determining accrual of interest on the principal balance of the Loan and the remaining Loan Amount and Forgivable Loan Amount available for disbursement.

  • Recipient authorizes IFA to determine whether disbursements will be drawn from the Loan Amount or the Forgivable Loan Amount, and record the date and amount of each such disbursement.

  • Forgivable Loan Amount: $15,000 – $50,000The loan is forgiven if the recipient meets program guidelines for five (5) years.

  • The Forgivable Loan Amount and any interest forgiven remain subject to the requirements of OAR 123-049-0050, which survive payment of the Loan.Notwithstanding the preceding paragraph, if, at the Project Completion Date, the average monthly residential water rates for the water supplied by the System are not at or above the affordability rate of $50.74 per 7,500 gallons, then $400,000 of the amount due under the Forgivable Loan will not be forgiven.

  • The Forgivable Loan Amount and any interest forgiven remain subject to the requirements of OAR 123-049-0050, which survive payment of the Loan.Notwithstanding the preceding paragraph, if, at the Project Completion Date, the average monthly residential water rates for the water supplied by the System are not at or above the affordability rate of $52.96 per 7,500 gallons, then $400,000 of the amount due under the Forgivable Loan will not be forgiven.

  • On the first day of the 60th month after the Disbursement Date, one sixtieth (1/60) of the Forgivable Loan Amount shall be forgiven and there shall then be no further monies owing.

  • The Forgivable Loan Amount and any interest forgiven remain subject to the requirements of OAR 123-049-0050, which survive payment of the Loan.

  • If the Homeowner sells the Property or changes the use of the Property through renting prior to the end of the Term, the Homeowner will be in default of the Forgivable Loan and must notify PEIHC of the default and arrange to repay the remaining balance of the Forgivable Loan Amount as set out in the Promissory Note.


More Definitions of Forgivable Loan Amount

Forgivable Loan Amount means $640,000. “Loan Amount” means $760,000.
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Forgivable Loan Amount means $515,000. “Section 2A. Loan Amount” means $2,700,000. “Interest Rate” means 1% per annum.
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Forgivable Loan Amount or “Forgivable Loan” means the funding amount approved for the Project under this Agreement, as set out in clause 3.1;
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Related to Forgivable Loan Amount

  • Forgivable loan means a loan made to an eligible resident pursuant to the requirements of this chapter.

  • Loan Amount has the meaning specified in Section 7.06(b) of the Indenture.

  • Total loan amount means the principal of a loan minus those points and fees that are included in the principal amount of the loan. For open-end loans, the total loan amount must be calculated using the total line of credit allowed under the residential mortgage loan at closing. [PL 2011, c. 427, Pt. A, §15 (NEW).]

  • Aggregate Loan Balance At any date of determination, the outstanding principal balance of the Mortgage Loans serviced hereunder.

  • Term Loan Amount means with respect to any Term Loan Lender, the amount equal to its Term Loan Percentage of the aggregate principal amount outstanding under the Term Loan.

  • Whole Loan As defined in the Introductory Statement.

  • Outstanding Loan Balance means the principal amount of your full-time Direct Loans outstanding at any time, including any Canada Student Grant amount(s) converted to a Direct Loan, together with all interest on those amounts.

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Prepayment Penalty Amount With respect to any Remittance Date, all prepayment penalties, penalty or yield maintenance premiums or charges paid by the obligors under the Mortgage Notes due to Principal Prepayments collected by the Servicer during the immediately preceding Prepayment Period.

  • Net Purchased Loan Balance means, as of any date of determination, an amount equal to the sum of (i) the Aggregate Principal Balance of all Collateral Obligations sold and/or contributed to the Buyer by the Seller (directly or indirectly) hereunder prior to such date plus (ii) the Aggregate Principal Balance of all Collateral Obligations acquired by the Buyer other than from the Seller prior to such date, in each case calculated as of the date of the Buyer’s acquisition thereof.

  • Gross advance amount means the sum payable to the payee or for the payee's account as consideration for a transfer of structured settlement payment rights before any reductions for transfer expenses or other deductions to be made from such consideration.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Cut-off Date Loan Balance means the Loan Balance calculated as of the Cut-off Date.

  • Aggregate Loan Group Balance As to any Loan Group and as of any date of determination, will be equal to the aggregate of the Stated Principal Balances of the Mortgage Loans in that Loan Group, except as otherwise provided, as of the last day of the related Collection Period.

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Whole Loan Custodial Account means the “Whole Loan Custodial Account” established for the Mortgage Loan pursuant to the Lead Securitization Servicing Agreement.

  • Maximum Loan Amount has the meaning set forth in Section 2.1(a).

  • Cash Advance Fee means a cash advance fee or similar fee that is charged to an Account under the related Credit Card Agreement.

  • Permanent Loan shall have the meaning assigned to that term in Section 2.16.1.

  • Aggregate Outstanding Loan Balance means on any day, the sum of the Outstanding Loan Balances of all Eligible Loans included as part of the Collateral on such date.

  • Maximum Revolving Advance Amount means $30,000,000.

  • Outstanding Balance of any Receivable at any time means the then outstanding principal balance thereof.

  • Allocated Loan Amount means, for an Individual Property, the amount set forth on Schedule II attached hereto.

  • Overadvance Amount has the meaning specified therefor in Section 2.4(f).

  • Principal amount financed means the unpaid cash price balance after deducting the down payment, adding the cost of any insurance premiums required or obtained as security for or by reason of the sale of a motor vehicle under an installment sale contract, and adding other costs necessary or incidental to the sale of the motor vehicle under the contract that the seller contracts to pay on behalf of the buyer and for the amount of which the seller agrees to extend credit to the buyer and for which the buyer contracts voluntarily.