Common use of Debt Forgiveness Clause in Contracts

Debt Forgiveness. So long as Executive remains employed by the Company, 20% of the original principal amount of Executive's current indebtedness to the Company of $35,000, plus all accrued but unpaid interest thereon will be forgiven by the Company as of April 1 of each year.

Debt Forgiveness. So long as Executive remains employed by the Company, 20% of the original principal amount of Executive's current indebtedness to the Company of $35,000100,000, plus all accrued but unpaid interest thereon will be forgiven by the Company as of April 1 of each year.