Common use of Principal Forgiveness Clause in Contracts

Principal Forgiveness. The amount of principal forgiveness shall be determined on each disbursement made to the Borrower pursuant to Section 4.1 hereof. The District will forgive the repayment of up to 64.9% of the amounts disbursed, not to exceed $3,000,000 in total, to the Borrower.

Principal Forgiveness. The amount of principal forgiveness shall be determined on each disbursement made to the Borrower pursuant to Section 4.1 hereof. The District will forgive the repayment of up to 64.9[ ]% of the amounts disbursed, not to exceed $3,000,000 [$ ] in total, to the Borrower.