PPP Note definition

PPP Note means the Note, dated as of April 14, 2020, issued by VWE to Bank of the West, in the original principal amount of $6,524,977, issued pursuant to the loan program known as the Paycheck Protection Program under the CARES Act;
PPP Note means the Unsecured note dated as of May 8, 2020 between SAE Inc. and Texas Champions Bank.
PPP Note means that certain Note, dated as of April 28, 2020, made by the Company in favor of the PPP Loan Lender in the original principal amount of $6,925,600.

Examples of PPP Note in a sentence

  • In accordance with the requirements of the CARES Act, the Affiliates used the proceeds from the PPP Note primarily for payroll and other eligible costs.

  • The PPP Note contains customary events of default relating to, among other things, payment defaults, providing materially false and misleading representations to the SBA or Lender, or breaching the terms of the PPP Loan documents.

  • On April 5, 2022, the Borrower was granted forgiveness of the entire PPP Note and any accrued interest.

  • In March 2021, the Borrower applied to Customers Bank for forgiveness of the amount due on the PPP Note in an amount equal to the sum of payroll and other eligible costs incurred during the Covered Period, as defined therein, following disbursement under the PPP Note.

  • You are not responsible for payment of accrued interest on the portion of your PPP loan that is forgiven, but interest accrues on the unforgiven portion from the date of your PPP Note.

  • For PPP loans approved by SBA prior to June 5, 2020, your PPP Note has a 2-year term, but you and your lender may mutually agree to extend your repayment term for any unforgiven amount if needed.

  • For PPP loans approved by SBA on or after June 5, 2020, your PPP Note has a 5-year term.

  • Your SBA PPP Loan Number (this is located at the top of your signed PPP Note); you can ignore the Lender PPP Loan Number field.

  • Your loan amount (this is located at the top of your signed PPP Note).

  • The PPP borrower has repaid any remaining balance on the PPP loan.2. The PPP Note is not fully satisfied.


More Definitions of PPP Note

PPP Note means that certain U.S. Small Business Administration Note dated May 6, 2020 between the Company and Town Center Bank.
PPP Note means that certain U.S. Small Business Administration Note dated May 6, 2020 between the Company and Town Center Bank. “Preferred Stock Conversion” has the meaning specified in Section 8.02(f).
PPP Note means the Unsecured note dated as of May 8, 2020 between SAE Inc.

Related to PPP Note

  • New Note shall have the meaning assigned to such term in Section 38.

  • Note means a promissory note made by the Borrower in favor of a Lender evidencing Loans made by such Lender, substantially in the form of Exhibit C.

  • Subordinated Note means the Subordinated Note (or collectively, the “Subordinated Notes”) in the form attached as Exhibit A hereto, as amended, restated, supplemented or modified from time to time, and each Subordinated Note delivered in substitution or exchange for such Subordinated Note.

  • RMB Note means a Note denominated in Renminbi.

  • Special Note Items with a "N" in the "Included in MSA?" column require IBM owner to do the following: 1. Submit a Custom Purchase Letter and 2. Attach the EZForm with all the details and pricing / citing the BEID file, version 2.x (or where ever you got the information) to kickoff the AT&T special handling process. AT&T Generally Available Service Schedule of Charges

  • Bridge Note has the meaning assigned to that term in Section 2.2(a)(1).

  • B Note means, with respect to any A/B Mortgage Loan, the related subordinated Mortgage Note not included in the Trust, which is subordinated in right of payment to the related A Note to the extent set forth in the related Intercreditor Agreement.

  • Contract Note means a promissory note of the Borrower payable to the order of a Lender, in substantially the form of Exhibit 1.01A hereto, evidencing the aggregate indebtedness of the Borrower to such Lender resulting from the Contract Advances made by such Lender to the Borrower.

  • debit note means a document issued by a registered person under sub-section (3) of section 34;

  • Borrower Note means the “Borrower Note” as defined in the Borrower Loan Agreement.

  • Supplemental Note means, for each Supplemental Loan (whether one or more), if any, the Multifamily Note secured by the Supplemental Instrument for that Supplemental Loan.

  • Original Note shall have the meaning assigned to such term in the recitals.

  • Restricted Certificated Note means a Certificated Note bearing the Private Placement Legend.

  • Existing Note shall have the meaning given to such term in the preamble hereto.

  • Revolving Note means a promissory note of the Borrower payable to a Lender in substantially the form of Exhibit 11.1(d) hereto, evidencing Indebtedness of the Borrower under the Revolving Loan Commitment of such Lender.

  • Surplus Note means a promissory note executed by an Insurance Subsidiary of the type generally described in the insurance industry as a “surplus note,” the principal amount of which an insurance regulator permits the issuer to record as an addition to capital and surplus rather than as a liability in accordance with SAP.

  • Revolver Note means any one of such Revolver Notes.

  • Note A shall have the meaning assigned to such term in the recitals.

  • Defeased Note shall have the meaning set forth in Section 2.4.1(a)(v) hereof.

  • Term Note means a promissory note of the Borrower payable to any Term Lender or its registered assigns, in substantially the form of Exhibit C-1 hereto, evidencing the aggregate Indebtedness of the Borrower to such Term Lender resulting from the Term Loans made by such Term Lender.

  • of a Note means the principal of the Note plus the premium, if any, payable on the Note which is due or overdue or is to become due at the relevant time.

  • Fixed Rate Note means any Class A-1 Note, Class A-2a Note, Class A-3 Note or Class A-4 Note.

  • Certificated Note means a Note in registered individual form without interest coupons.

  • Retained Note means any Notes held by the Issuer (or any other person treated as the same person as the Issuer for U.S. federal income tax purposes), but only so long as such Notes are held by such entity, until such time as such Notes are transferred in accordance with the terms and conditions of Section 2.04 of the Indenture.

  • Seller Note means the promissory note evidencing Xxxxxxxx’s repayment obligations in respect of the Seller Loan.

  • Underlying Note means the one or more promissory notes executed by an obligor evidencing a Loan.