Forgiven definition
Examples of Forgiven in a sentence
Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Decimal 12000 9(10).99 Modified Loans Only >= 0 156 Forgiven Interest Amount The sum total of all interest incurred and forgiven (as a result of loan modification) over the life of the loan.
Loan Modifications (Pertains only to loans modified for loss mitigation purposes) Numeric – Integer 36 999 Modified Loans Only >= 0 to <= 120 155 Forgiven Principal Amount The sum total of all principal balance reductions (as a result of loan modification) over the life of the loan.
In addition, on each applicable anniversary date as the Stock Acquisition Loan and interest accrued thereon is forgiven, in order to enable Executive to meet his tax liability with respect to the forgiveness of the Stock Acquisition Loan, the Company shall make a cash payment to Executive on that anniversary date in an amount equal to forty percent (40%) of the respective Forgiven Amount (the "Acquisition Loan Tax Gross-Up Payment").
The Stock Acquisition Loan shall be forgiven over a period of five (5) years from the date hereof, with twenty percent (20%) of the principal and interest on the then outstanding balance of the principal to be forgiven on each applicable anniversary date (the "Forgiven Amount").
The Company shall cancel the Forgiven Fees on its books and records immediately following the effectiveness of this Agreement as set forth herein.