PPP Rules definition

PPP Rules means: (i) if the Loan is a First Draw PPP Loan all laws, regulations, guidelines and releases applicable to the PPP for First Draw PPP Loans, as the same may be amended from time to time and (ii) if the Loan is a Second Draw PPP Loan, all laws, regulations, guidelines and releases applicable to the PPP for Second Draw PPP Loans, as the same may be amended from time to time.
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PPP Rules has the meaning set forth in Section 3.23(i). “Pre-Closing Income Tax Returns” means any Income Tax Return of the Company for a Pre- Closing Tax Period that is due after the Closing Date. “Pre-Closing Period” has the meaning set forth in Section 6.1(a). “Pre-Closing Tax Period” has the meaning set forth in Section 10.7. “Prepaid Deposit Amount” means $223,811.38. “Processing” means any operation or set of operations which is performed on Personal Data or on sets of Personal Data, whether or not by automated means, such as collection, recording, organization, structuring, storage, adaptation or alteration, retrieval, consultation, use, disclosure by transmission, dissemination or otherwise making available, alignment or combination, restriction, erasure, or destruction. “Pro Rata Portion” means with respect to each Shareholder, an amount expressed as a percentage equal to the quotient obtained by dividing (A) amount of Transaction Consideration payable to such Shareholder pursuant to Section 2.4, by (B) the aggregate amount of Transaction Consideration payable to all Shareholders pursuant to Section 2.4, which Pro Rata Portion for each Shareholder shall be set forth on the Payment Schedule. For clarity, the sum of all Pro Rata Portions shall equal 100%. “Public Software” means any software, libraries or other code that is licensed under or is otherwise subject to free or open source licensing or distribution terms, including without limitation any versions of the following agreements, licenses or distribution models: (i) the GNU General Public License (GPL); (ii) Lesser/Library GPL (LGPL); (iii) the Common Development and Distribution License (CDDL); (iv) the Artistic License (including PERL); (v) the Netscape Public License; (vi) the Sun Community Source License (SCSL) or the Sun Industry Standards License (SISL); (vii) the Apache License; (viii) the Common Public License; (ix) the Affero GPL (AGPL); (x) the Berkeley Software Distribution (BSD); (xi) the Mozilla Public License (MPL), (xii) the Microsoft Limited Public License or (xiii) any licenses that are defined as OSI (Open Source Initiative) licenses as listed on the site xxx.xxxxxxxxxx.xxx. Software distributed under less restrictive free or open source licensing and distribution models such as those obtained under the MIT, Boost Software License, and the Beer-Xxxx Public Software licenses or any similar licenses, and any software that is a public domain dedication are also “Public Software.”
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PPP Rules shall refer to the PPP Rules which apply to the program (either PPP or PPP-SD) under which this Note has been issued.
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Examples of PPP Rules in a sentence

  • The PPP Rules further clarify that affiliation rules are waived even if the borrower received investment from other non-SBIC investors.

  • The CARES Act waives the affiliation rules if the borrower receives financial assistance from an SBA-licensed Small Business Investment Company (SBIC) in any amount (including, per the PPP Rules, any type of financing listed in 13 CFR 107.50, such as loans, debt with equity features, equity, and guarantees).

  • On January 6, 2021, the SBA announced the Second Draw Rules, which confirm that the majority of the terms of the PPP Rules, as well as the FAQs and other guidance about PPP loans under section 7(a)(36) of the Small Business Act, also apply to the Second Draw Program.

  • Under the PPP Rules, the date a PPP loan is made (at least, for purposes of determining the maturity date) is deemed to be the date on which the SBA assigned a loan number to that loan.

  • Previously, the PPP Rules required 75% of the PPP loan proceeds be used for payroll costs.

  • Note further that some of the items listed above are not forgiveness-eligible, and any additional allowable uses not specifically listed in the CARES Act or the PPP Rules are not forgiveness-eligible.

  • However, the PPP Rules list as permitted only those uses detailed above, and it remains unclear whether the SBA is restricting permitted uses to only those that are expressly listed above.

  • Further, the PPP Rules indicate that an applicant that did not claim (or was not entitled to claim) such mortgage interest, rent, or utility payments on its 2019 or 2020 Form 1040 Schedule C (whichever period is used) cannot use the loan proceeds for such expenses during the initial 24-week period (or 8-week period) following the first disbursement of the loan.

  • Per the EAA Updated Rules (updating prior PPP Rules), borrowers are permitted to use any of (i) the 12 month period prior to the date on which the loan is made, (ii) calendar year 2019, or(iii) calendar year 2020 as the base period (though in our experience, most borrowers have and will utilize calendar year 2019 or 2020).

  • Borrower shall remain responsible to Lender under this Note for any and all amounts of principal, accrued interest, fees, costs, and any other amounts which are not forgiven pursuant to the PPP Rules.


More Definitions of PPP Rules

PPP Rules or “Rules” means the Public Private Partnership (Preparation, Procurement and Management) Rules 2011;
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PPP Rules means all rules and requirements as stated in the Small Business Act (including Section 7(a) of the Small Business Act), the CARES Act, the Paycheck Protection Program Flexibility Act of 2020 and any other applicable Laws, including all current and future guidance and interim final rules, in each case regarding or relating to the PPP and PPP loan forgiveness program published by the SBA, the Department of Treasury, and other Governmental Entities.
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PPP Rules means all statutes applicable to the Paycheck Protection Program. “Pandemic” means the outbreak of COVID-19.
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PPP Rules means the Paycheck Protection Program rules, directives, and regulations made by the SBA or United States Treasury. “SBA” means the Small Business Administration, an Agency of the United States of America. PAYMENT TERMS: Borrower must make all payments at the place Lender designates. The payment terms for this Note are: 1 Zions Bancorporation, N.A. Member FDIC Version 2.15 DocuSign Envelope ID: A2D5535F-6368-4532-BB4E-EB976A6FB6C6 586332.00 California Bank & Trust THIS IS A COPY The Authoritative Copy of this record is held at XX0.xxxxxxxx.xxx COPY VIEW
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Related to PPP Rules

  • PPB Rules means the rules of the Procurement Policy Board as set forth in Title 9 of the Rules of the City of New York (“RCNY”), § 1-01 et seq.

  • FCA Rules means the Rules included within the FCA Handbook issued by the FCA.

  • M&A Rules means the Provisions on Merging and Acquiring Domestic Enterprises by Foreign Investors, which was promulgated by six Governmental Agencies, namely, the Ministry of Commerce, the State-owned Assets Supervision and Administration Commission, the State Administration for Taxation, the State Administration for Industry and Commerce, the China Securities Regulatory Commission (the “CSRC”), and the State Administration of Foreign Exchange, on August 8, 2006 and became effective on September 8, 2006, as amended by the Ministry of Commerce on June 22, 2009.

  • SIFT Rules means the provisions of the Tax Act, including those contained in sections 104, 122 and 122.1 of the Tax Act, which apply to the taxation of a “specified investment flow through trust” and its unitholders.

  • PRA Rules means the Rules included within the PRA handbook issued by the PRA.

  • DOE Rules means DOE’s energy conservation regulations found in Title 10, Parts 429, 430, and 431 of the Code of Federal Regulations.

  • Applicable Laws/ Rules means the laws/ Rules of Islamic Republic of Pakistan/Punjab, as they may be issued and enforced from time to time.

  • CCASS Rules means the General Rules of CCASS and the CCASS Operational Procedures in effect from time to time;

  • ISO-NE Rules means all rules and procedures adopted by NEPOOL, ISO-NE, or the RTO, and governing wholesale power markets and transmission in New England, as such rules may be amended from time to time, including but not limited to, the ISO-NE Tariff, the ISO-NE Operating Procedures (as defined in the ISO-NE Tariff), the ISO-NE Planning Procedures (as defined in the ISO-NE Tariff), the Transmission Operating Agreement (as defined in the ISO-NE Tariff), the ISO-NE Participants Agreement, the manuals, procedures and business process documents published by ISO-NE via its web site and/or by its e-mail distribution to appropriate NEPOOL participants and/or NEPOOL committees, as amended, superseded or restated from time to time.

  • FSA Rules meanss the rules, guidance, principles and codes comprised in the Handbook of Rules and Guidance issued by the FSA. The parties understand and agree that such categorisation is not intended to, and does not, affect the relationship between and among the parties under the 1940 Act or the Advisers Act.

  • JAMS Rules has the meaning assigned thereto in Section 13 hereof.

  • Model Rules means the State of Oregon’s Attorney General’s model rules of procedure for Public Contracting, which are set forth in OAR Chapter 137, divisions 46, 47, 48, and 49, and required under ORS 279A.065.

  • HIPAA Rules means the Privacy, Security, Breach Notification, and Enforcement Rules at 45 CFR Part 160 and Part 164.

  • AIM Rules means the rules published by the London Stock Exchange governing admission to AIM and the regulation of AIM companies as amended or re-issued from time to time;

  • HKIAC Rules shall have the meaning ascribed to it in Section 10.13(a).

  • Scheme Rules means the applicable SEPA direct debit or credit transfer scheme rules of the European Payments Council as amended from time to time.

  • School Rules means the body of rules of the School as may be amended from time to time for legal, safety or other substantive reasons, or in order to assist the proper administration of the School. A copy of the then current version of the rules is provided to each child on entry and is sent to parents with the Acceptance Form. Parents will be notified of subsequent changes to the rules;

  • House Rules means written and posted rules governing house activities in the AFH-DD. These rules may not conflict with the AFH Bill of Rights.

  • Relevant Rules means, at any time, the laws, regulations, requirements, guidelines and policies relating to capital adequacy (including, without limitation, as to leverage) then in effect in the United Kingdom including, without limitation to the generality of the foregoing, as may be required by CRD IV or BRRD or any applicable successor legislation or any delegated or implementing acts (such as regulatory technical standards) adopted by the European Commission and applicable to the Issuer from time to time and any regulations, requirements, guidelines and policies relating to capital adequacy adopted by the Relevant Regulator from time to time (whether or not such requirements, guidelines or policies are applied generally or specifically to the Issuer or to the Issuer and any of its holding or subsidiary companies or any subsidiary of any such holding company).

  • ACH Rules means the NACHA Operating Rules and NACHA Operating Guidelines, as in effect from time to time.

  • Hague Rules means the International Convention for the Unification of certain Rules of Law relating to Bills of Lading signed at Brussels on 25 August 1924.

  • Hague-Visby Rules means the provisions of the International Convention for the Unification of certain rules Relating to Bills of Lading signed at Brussels on 25th August 1924 as amended by the Visby Protocol of 23rd February 1968 and the SDR Protocol of 21st December 1979;

  • Exchange Rules means the listing rules of The OTC Marketplace.

  • QFC Stay Rules means the regulations codified at 12 C.F.R. 252.2, 252.81–8, 12 C.F.R. 382.1-7 and 12 C.F.R. 47.1-8, which, subject to limited exceptions, require an express recognition of the stay-and-transfer powers of the FDIC under the Federal Deposit Insurance Act and the Orderly Liquidation Authority under Title II of the Xxxx Xxxxx Wall Street Reform and Consumer Protection Act and the override of default rights related directly or indirectly to the entry of an affiliate into certain insolvency proceedings and any restrictions on the transfer of any covered affiliate credit enhancements.

  • Regulatory Rules means all corporate and securities laws, regulations, rules, policies, notices, instruments and other orders of any kind whatsoever which may, from time to time, apply to the implementation, operation or amendment of this Plan or the Options granted from time to time hereunder including, without limitation, those of the applicable Regulatory Authorities.

  • Market Rules means the rules made under section 32 of the Electricity Act;