Release of Shares. Notwithstanding any provision of this Agreement or the Share Pledge Agreement to the contrary contained or implied, the Company will release from the pledge and security interest under the Share Pledge Agreement, such Shares as must be allocated to ESOP participants under the ESOP pursuant to Section 8.7(h) of the ESOP and otherwise under the Code, the Exempt Loan Rules or other applicable law, provided that Section 8.7(h) of the ESOP shall not be amended without the Trustee's prior consent.
Appears in 7 contracts
Samples: Exempt Loan and Share Purchase Agreement (Union Community Bancorp), Exempt Loan and Share Purchase Agreement (Citizens Bancorp), Exempt Loan and Share Purchase Agreement (Citizens Bancorp)
