5.
to cancel an indebtedness or liability of: to forgive the interest owed on a loan.
I was taught as a child that when you forgive some one of a wrong doing, you let it go.
You don't hang on to it. You don't keep punishing the person who did the wrong doing. You don't make them jump through firey hoops as they try to earn your respect and trust back.
If you forgive them you move on. And you don't hang it over them. You don't raise the bar of expectation in making it up to you, everytime they get close to doing so.
Granted, forgiveness does not negate consequences. On the other hand, that means you give them a fair chance to right the wrong. Why? Because you forgive them. You want to allow them the oppurtunity to show you that were scincere in their apology.
By doing so, you allow them to see you actually do forgive them.