; or (ii) a waiver of interest and principal charges on such covered. (c) Treatment of amounts forgiven and waived (1) In general Amounts which have been forgiven under this section shall be considered canceled indebtedness by the lender. (2) Purchase of guarantees For purposes of the purchase of the guarantee for a covered loan by the Administrator, amounts which are forgiven under this section shall be treated in accordance with the procedures that are otherwise applicable to a loan guaranteed under section 7(a) of the Small Business Act ( 15 U.S.C. 636(a) ). (3) Remittances (A) Forgiven amounts Not later than 90 days after the date on which the amount of forgiveness under this section is determined with respect to a covered loan described in subsection (a)(3)(B), and not later the two weeks after the date on which the amount of forgiveness under this section is determined with respect to a covered loan described in subsection (a)(3)(A), the Administrator shall remit to the lender an amount equal to the amount of forgiveness, plus any interest accrued through the date of payment. (B) Interest waived During the period interest charges are waived under subparagraphs (A)(ii) or (B)(ii) of subsection (b)(2) on a covered loan in which any individual or entity other than the Administrator is participating, the Administrator shall pay to each individual and entity participating in the covered loan the interest that, but for such subsection, would be owed to such individual or entity at the time such interest would be due. (4) Advance purchase of covered loans (A) Report A lender authorized under subsections (a) or (b) of section 7 of the Small Business Act ( 15 U.S.C. 636 ), or, at the discretion of the Administrator, a third party participant in the secondary market, may, report to the Administrator an expected forgiveness amount on a covered loan or on a pool of covered loans of up to 100 percent of the principal on the covered loan or pool of covered loans, respectively. (B) Purchase The Administrator shall