Forgiven Amount definition

Forgiven Amount. Any amount of principal or delinquent interest that the related Mortgagor is no longer required to pay as a result of any modification by the related Servicer of the terms of the related Mortgage Note.
View Source
Forgiven Amount. Any amount of principal or delinquent interest that the related Mortgagor is no longer required to pay as a result of any modification by the Servicer of the terms of the related Mortgage Note.
View Source
Forgiven Amount means, as of any date of determination, an amount equal to the portion of the PPP Loan and any interest thereon that is forgiven, in each case to the extent specified in the applicable PPP Loan Forgiveness Confirmation; provided, that if no portion of the PPP Loan and any interest thereon is forgiven as of such date, then the “Forgiven Amount” shall be equal to zero.
View Source

Examples of Forgiven Amount in a sentence

  • In addition, on each applicable anniversary date as the Stock Acquisition Loan and interest accrued thereon is forgiven, in order to enable Executive to meet his tax liability with respect to the forgiveness of the Stock Acquisition Loan, the Company shall make a cash payment to Executive on that anniversary date in an amount equal to forty percent (40%) of the respective Forgiven Amount (the "Acquisition Loan Tax Gross-Up Payment").

  • The Stock Acquisition Loan shall be forgiven over a period of five (5) years from the date hereof, with twenty percent (20%) of the principal and interest on the then outstanding balance of the principal to be forgiven on each applicable anniversary date (the "Forgiven Amount").

  • For purposes of this Section 8.7 the Forgiven Amount shall be deemed forgiven only after: (i) the PPP Lender has completed its review of the PPP Loan Forgiveness Application, determined that the applicable Group Company is entitled to forgiveness of the PPP Loan under all applicable PPP Laws and reported such decision to the SBA in writing and (ii) the SBA has remitted the applicable Forgiven Amount to the PPP Lender.

  • Promptly following receipt of any such notification and prior to any such distribution of any portion of the Forgiven Amount to the Participating Securityholders, the Securityholders’ Representative shall deliver to Parent and the Payment Agent an updated Closing Payment Schedule (which need not be certified) setting forth the portion of the Forgiven Amount payable to each Participating Securityholder.

  • Any payment made to the Sellers’ Representative pursuant to this Section ‎2.5(c)(iii) shall be distributed by the Sellers’ Representative to the Sellers and, in the case of the Optionholder, the Company, for payment to the Optionholder in accordance with Section 2.2, with each Seller and the Optionholder to receive an amount equal to such Seller’s or Optionholder’s, as applicable, Consideration Percentage Interest of the Forgiven Amount.

  • The amount of additional Taxes described in clause (ii) above shall be determined on a “with and without” basis, and shall equal the excess (if any) of (A) the aggregate amount of any Taxes payable by DFHT or its Affiliates (including the applicable Company(ies)) over (B) the aggregate amount of any Taxes payable by DFHT or its Affiliates (including the applicable Company(ies)) assuming that the Applicable Forgiven Amount were not forgiven.

  • If all or any portion of the PPP Loan is forgiven after Closing (any such forgiven amounts, a “Forgiven Amount”), Buyer shall provide Seller with written notice of such Forgiven Amount and, to the extent permitted under the PPP Escrow Agreement, instruct the PPP Escrow Agent to disburse all such Forgiven Amount (or such amount that would be considered forgiven under the PPP Escrow Agreement) from the PPP Escrow Amount to Seller in accordance with the terms of the PPP Escrow Agreement.

  • Notwithstanding anything herein to the contrary, Indemnified Losses include, without limitation, any future determination by the SBA that the PPP Loan Forgiveness Acceptance was incorrect or improper which requires Lender to return the PPP Forgiven Amount to the SBA after such amount has been disbursed in accordance with Section 1.2 hereof.

  • The Company Forgiven Receivables less the Seller Forgiven Receivables shall hereinafter be referred to as the "Intercompany Forgiven Amount".

  • For the avoidance of doubt, no Applicable Net Governmental PPP Program Proceeds Release Amount shall exist in respect of any portion of the PPP Loan unless there is an Applicable Forgiven Amount that has been actually received by the applicable Company(ies) from the PPP Escrow Account.


More Definitions of Forgiven Amount

Forgiven Amount. Any amount of principal or delinquent interest that the related Mortgagor is no longer required to pay as a result of any modification by the related Servicer of the terms of the related Mortgage Note. (In connection with the calculation of the Two Times Test, the Trustee will be required to include the Forgiven Amount in its calculations with respect thereto only to the extent the Forgiven Amount is provided to the Trustee by the Master Servicer pursuant to Section 4.03 hereof).
View Source
Forgiven Amount. Any amount of principal or delinquent interest that the related Mortgagor is no longer required to pay as a result of any modification by the related Servicer of the terms of the related Mortgage Note. Form 8-K Disclosure Information: As defined in Section 6.20(e)(i). ▇▇▇▇▇▇▇ Mac: ▇▇▇▇▇▇▇ Mac, f/k/a the Federal Home Loan Mortgage Corporation, a corporate instrumentality of the United States created and existing under Title III of the Emergency Home Finance Act of 1970, as amended, or any successor thereto. ▇▇▇▇▇▇ Mae: ▇▇▇▇▇▇ ▇▇▇, f/k/a the Government National Mortgage Association, a wholly owned corporate instrumentality of the United States within HUD.
View Source
Forgiven Amount has the meaning specified in Section 3.2(c).
View Source
Forgiven Amount has the meaning set forth in Section 6.13(c).
View Source
Forgiven Amount. Any amount of principal or delinquent interest that the related Mortgagor is no longer required to pay as a result of any modification by the related Servicer of the terms of the related Mortgage Note. Form 8-K Disclosure Information: As defined in Section 6.20(f)(i).
View Source

Related to Forgiven Amount

  • Broken Amount means, in respect of any Interest Payment Date, the amount specified in the relevant Final Terms.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Cash Contribution Amount means the aggregate amount of cash contributions made to the capital of the Issuer or any Guarantor described in the definition of “Contribution Indebtedness.”

  • Scheduled Funded Debt Payments means, as of any date of determination for the Borrower and its Subsidiaries, the sum of all scheduled payments of principal on Funded Debt for the applicable period ending on the date of determination (including the principal component of payments due on Capital Leases during the applicable period ending on the date of determination).

  • Reduction Amount has the meaning set forth in Section 2.05(b)(viii).