Can anyone help with Forgivable Seller Notes?
Wanted to get some perspective around structuring a 100% forgivable note.
Let's assume that the seller note is a 100% forgivable upon gross revenue dipping below a certain annual revenue number.
The question I have is for how long is the note forgivable? Is it forever or until the revenue gets above the set threshold?
If latter, does the duration of note gets extended by the period for which the note got forgiven/paused?