Forgiveness Date Sample Clauses

Forgiveness Date. Following receipt of the Employment Report due on January 31, 2019 under Section 6.05(a), the Department will calculate the average number of Permanent, Full-time Employees employed by the Borrower as of December 31, 2014, December 31, 2015, December 31, 2016, December 31, 2017, and December 31, 2018 based upon the corresponding Employment Reports submitted under Section 6.05(a) (the “Average Employment”). If the Average Employment is less than 500 Permanent, Full-time Employees, but at least 200 Permanent, Full-time Employees, the Borrower shall repay to the Department a portion of the Loan equal to $3,000 for each Permanent, Full-time Employees less than 500, less an amount equal to the amount of the Loan previously repaid to the Department under subsection (a), plus accrued interest on the amount of the Loan to be repaid, as provided in the Note. If the amount resulting from the calculation in the immediately preceding sentence is zero or negative, the Borrower shall not be required to make any payment to the Department for the Forgiveness Date; it being expressly understood that nothing in this Section shall be construed to require the Department to repay any amounts to the Borrower.
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Forgiveness Date. The first sentence of Section 7(c) of the Previous Amendment shall be revised to refer to "June 30, 1997," rather than "March 31, 1997," so that such sentence shall read as follows:
Sample 1

Related to Forgiveness Date

  • Payment Date Other Than a Business Day If any payment with respect to a payment of any principal of, premium, if any, or interest on any Note (including any payment to be made on any date fixed for redemption or purchase of any Note) is due on a day which is not a Business Day, then the payment need not be made on such date, but may be made on the next Business Day with the same force and effect as if made on such date, and no interest will accrue for the intervening period.

  • Non-Business Day Payments Whenever any payment shall be stated to be due on a day other than a Business Day, such payment shall be made on the next succeeding Business Day, and such extension of time shall in such case be included in the computation of payment of interest or fees, as the case may be; provided, however, that if such extension would cause payment of interest on or principal of Eurodollar Rate Advances to be made in the next following calendar month, such payment shall be made on the next preceding Business Day.

  • Non-Business Day If any payment of principal or interest on any Loan or of any other Obligation shall fall due on a day which is not a Business Day, interest or fees (as applicable) at the rate, if any, such Loan or other Obligation bears for the period prior to maturity shall continue to accrue on such Obligation from the stated due date thereof to and including the next succeeding Business Day, on which the same shall be payable.

  • Payment on non-Business Day If any payment by the Borrower under a Finance Document would otherwise fall due on a day which is not a Business Day:

  • Payments Due on Non-Business Day If the date fixed for any payment on any Trust Security shall be a day that is not a Business Day, then such payment need not be made on such date but may be made on the next succeeding day that is a Business Day (except as otherwise provided in Sections 4.1(a) and 4.2(d)), with the same force and effect as though made on the date fixed for such payment, and no interest shall accrue thereon for the period after such date.

  • Payments on Non-Business Days Whenever any payment to be made by Borrower hereunder shall be stated to be due on a day which is not a Business Day, payments shall be made on the next succeeding Business Day and such extension of time shall be included in the computation of the payment of interest hereunder and of any fees due under this Agreement, as the case may be.

  • Payment on Non-Business Days Whenever any payment to be made shall be due on a day which is not a Business Day, such payment may be due on the next succeeding Business Day.

  • Business Day For purposes of these By-Laws, “Business Day” shall mean any day other than a Saturday, a Sunday or a day on which banking institutions in the State of New York are authorized or obligated by law or executive order to close.

  • Sunday Premium All hours worked by an Employee on Sunday, shall be paid for on the basis of one and one-half (1½) times the Employee’s Regular Rate of Pay. For the purpose of this Section, Sunday shall be deemed to be the twenty-four (24) hours beginning with the shift change hour nearest to 12:01 a.m.

  • Payments on Business Days Except as provided pursuant to Section 2.01 pursuant to a Board Resolution, and set forth in an Officer’s Certificate, or established in one or more indentures supplemental to this Indenture, in any case where the date of maturity of interest or principal of any Security or the date of redemption of any Security shall not be a Business Day, then payment of interest or principal (and premium, if any) may be made on the next succeeding Business Day with the same force and effect as if made on the nominal date of maturity or redemption, and no interest shall accrue for the period after such nominal date.

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