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.

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

  • Public Service Activities  Forgivable Loans – Non-construction operating projects shall be fully forgiven at the end of the Program Year if the project has completed its specified purpose.

  • The maximum amount of each loan is determined by the funds available at the time of the loan and the number of full- time or full-time equivalent jobs created.• Grants or Forgivable Loans This type of incentive is offered for industrial development only.

  • 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.

  • Forgivable Loans – Assistance will be provided in the form of a ten year, zero percent interest, deferred forgivable loan, forgivable at a rate of 1/10 per full year of assisted homeowner occupancy.

  • The Start-up and Office Tenant Attraction (SOTA) Program (the Program) is intended to provide low-interest Loans or Forgivable Loans that will facilitate the undertaking of eligible leasehold improvements to office space by property owners or authorized tenants in order to support the creation of new office space and improve the marketability and attractiveness of existing office space.

  • Forgivable Loans – Assistance will be provided in the form of a ten year, zero percent interest, deferred forgivable loan, forgivable at a rate of 1/10 per full year of assisted homeowner occupancy with standard investor restrictions (i.e. Maintenance Agreement and recorded Rent Limitation Agreement for the life of the loan) as outlined below.

  • Terms of forgivable loans; receipt and disbursement of funds; default.26 (a) Forgivable Loans.

Related to Forgivable Loans

  • Forgivable loan means a loan awarded under this section covering

  • 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.

  • Subject Loans has the meaning assigned to such term in Section 2.11(b)(ii).

  • 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.