Forgivable Loans definition

Forgivable Loans means any (i) loans given to employees (that are not officers and directors) or consultants of the Company or to any Parent Entity of the Company that are made in the ordinary course of business and (ii) loans given in connection with hiring and expansion activities of the Company or a Restricted Subsidiary in the ordinary course of business.
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Forgivable Loans. So long as no uncured Events of Default have occurred under any of the Loan Documents securing these Notes, the aggregate loan principal amount of up to Two Hundred Fifty Thousand and no/100 Dollars ($250,000) for a minimum of eight (8) acquisitions, shall be forgiven in the amount borrowed for each individual property at the time that each property is sold to a qualified low-moderate income buyer.
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Examples of Forgivable Loans in a sentence

  • Eligible Projects will receive City Fee Waivers, SAWS Impact Fee Waivers, Real Property Tax Reimbursement Grants, Inner City Incentive Fund Loans, and Mixed Use Development Forgivable Loans based on the terms outlined in the CCHIP.

  • Combined Loan to Value (CLTV)--The aggregate principal balance of all the Mortgage Loans, including Forgivable Loans, divided by the appraised value.

  • Deferred Forgivable Loans will require a security instrument which is acceptable to the City.

  • All Deferred Forgivable Loans will be underwritten by staff or contractors of the Planning and Development Department.

  • Loans issued using local housing distribution funds deposited to the local housing assistance trust fund may not have terms exceeding 30 years, except for Deferred Payment Loans or Forgivable Loans that extend beyond 30 years which continue to serve eligible persons.

  • Approval of Deferred Forgivable Loans will be contingent upon the applicant meeting the ongoing requirements of the program.

  • State Forgivable Loans are reported to the credit bureaus monthly.

  • Forgivable Loans are loans that can be forgiven or deferred for a period of time if the borrower is in compliance with the terms and conditions of the loan.

  • The lien amounts of Forgivable Loans shall be included when determining the Combined Loan to Value ratio.

  • The CDA may also file a Revenue Recapture Claim for Forgivable Loans based on the balance of the amount due within the graduated forgiveness time period.

Related to Forgivable Loans

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

  • Student Loans means education loans to students and parents of students under the Federal Family Education Loan Program.

  • Eligible Loans has the meaning specified in any of the Purchase Agreements or the Sale Agreement, as applicable.

  • Subordinated Loans means any loan incurred by the Issuer or any of its Subsidiaries, if such loan (i) according to its terms (or pursuant to a subordination agreement on terms and conditions satisfactory to the Trustee) is subordinated to the obligations of the Issuer under the Terms and Conditions; (ii) according to its terms have a final redemption date or, when applicable, early redemption dates or instalment dates which occur after the Final Redemption Date; and (iii) according to its terms yield only payment-in-kind interest.

  • Loans means the loans made by the Lenders to the Borrower pursuant to this Agreement.

  • Whole Loan As defined in the Introductory Statement.

  • Related Loans has the meaning set forth in Section 3.1. “Restructuring Loss” means the loss on a modified or restructured loan measured by the difference between (a) the principal, Accrued Interest, tax and insurance advances, third party or other fees due on a loan prior to the modification or restructuring, and

  • Refinanced Loans has the meaning specified in Section 10.01.

  • Cash Advances These are from cash advances and cash equivalent transactions you make with your account. “Special Offers” These are from your use of the account to take advantage of special, introductory, or promotional offers we make available to you at times. Each such transaction may be kept track of separately on your statement and may be treated as its own Balance Category.

  • Intercompany Loans shall have the meaning provided in Section 10.05(h).

  • or "Loans means and includes without limitation any and all commercial loans and financial accommodations from Lender to Borrower, whether now or hereafter existing, and however evidenced, including without limitation those loans and financial accommodations described herein or described on any exhibit or schedule attached to this Agreement from time to time.

  • Purchased Loans means, with respect to each Purchase Agreement, the Loans offered for sale and purchased or substituted pursuant to such Purchase Agreement.

  • Loan Assets means, collectively and as applicable, the Initial Loan Assets, the Substitute Loan Assets and the Additional Loan Assets, as applicable.

  • Delinquent Loans means loans where the borrowers have failed to make scheduled mortgage payments under the terms of the mortgage and where the cumulative amount of mortgage payments missed exceeds the scheduled payments due in a three-month period.

  • Consumer Loans means Loans to individuals for household, family and other personal expenditures (including United States and/or State-guaranteed student loans and extensions of credit pursuant to a credit card plan or debit card plan).

  • Outstanding Advances means, with respect to a Receivable and the last day of a Collection Period, the sum of all Advances made as of or prior to such date, minus (1) all payments or collections as of or prior to such date which are specified in Section 4.04(b) and (c) as applied to reimburse all unpaid Advances with respect to such Receivable and (2) all amounts for which the Servicer has deemed to have released all claims for reimbursement of Outstanding Advances pursuant to Section 3.08.

  • Lender PMI Loans Mortgage Loans with respect to which the lender rather than the borrower acquired the primary mortgage guaranty insurance and charged the related borrower an interest premium.

  • Total Loans at any time, the aggregate principal amount of the Loans of the Lenders outstanding at such time.

  • Loan Payments means the amounts required to be paid by the Company in repayment of the Loan pursuant to Section 4.1 hereof.

  • Permitted Loans means:

  • Revolving Advances means Advances made other than Letters of Credit.

  • Servicing Advances All customary, reasonable and necessary "out of pocket" costs and expenses incurred in the performance by the Master Servicer of its servicing obligations, including, but not limited to, the cost of (i) the preservation, restoration and protection of a Mortgaged Property, (ii) any expenses reimbursable to the Master Servicer pursuant to Section 3.11 and any enforcement or judicial proceedings, including foreclosures, (iii) the management and liquidation of any REO Property and (iv) compliance with the obligations under Section 3.09.

  • Subordinated Loan has the meaning set forth in Section 1.2(a) of the Agreement.

  • First Lien Loans means the loans made under the First Lien Credit Agreement.

  • Original Loans means the loans and other extensions of credit outstanding under the Original Credit Agreement as of the Effective Date.

  • Note A-1 Securitization means the first sale by the Note A-1 Holder of all or a portion of Note A-1 to a depositor who will in turn include such portion of Note A-1 as part of the securitization of one or more mortgage loans.