Forgivable Principal definition

Forgivable Principal means the portion of a loan that is not required to be paid back by the borrower.
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Forgivable Principal means the portion of a loan made by the department that is not required to be paid back by the borrower if al- lowable by the act or Congress through federal appropriation.
Sample 1Sample 2Sample 3
Forgivable Principal means the portion of a loan made by the department that is not required to be paid back by the borrower if allowable by Congress through federal appropriation.
Sample 1Sample 2Sample 3

Examples of Forgivable Principal in a sentence

  • RECIPIENTS funded with State Revolving Fund Loan or Forgivable Principal shall include the following verification statement in the “General Comments” text box of each progress report.

Related to Forgivable Principal

  • Available Principal Collections means, with respect to any Monthly Period, an amount equal to the sum of (a) (i) an amount equal to the Principal Allocation Percentage of Series2023-3 Allocable Principal Collections received during such Monthly Period minus (ii) the amount of Reallocated Principal Collections with respect to such Monthly Period which pursuant to Section 4.08 are required to fund the Required Amount for the related Distribution Date, (b) any Shared Principal Collections with respect to other Series that are allocated to Series 2023-3 in accordance with Section 4.04 of the Agreement and Section 4.11 of this Supplement, and (c) any other amounts which pursuant to Section 4.05 or 4.07 of this Supplement are to be treated as Available Principal Collections with respect to the related Distribution Date.