Common use of Stock Loan Clause in Contracts

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, at any time after the IPO has been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee a loan (the "Loan") in an amount equal to such income taxes, to be interest only for a period of five (5) years, to require yearly payments of simple interest at the same interest rate as the Holding Company incurs to borrow funds from its institutional lenders, to be collateralized only by the stock granted and the Employee otherwise will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the loan shall be fully paid off within three (3) months of the Termination Date and upon the termination of this Agreement to Sections 2 (iii), (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination Date.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, at any time after the IPO Employer has been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide provided to the Employee a loan (the "Loan") in an amount equal to such income taxes, to be ). The Loan provides for payment of interest only for a period of five (5) yearsuntil June 30, to require 2005, requires yearly payments of simple interest at the same interest rate as the Holding Company Employer incurs to borrow funds from its institutional lenders, to be is collateralized only by the stock granted and the Employee otherwise will is not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the loan Loan shall be fully paid off within three (3) months of the Termination Date and Date; upon the termination of this Agreement pursuant to Sections 2 (iii), Section (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination DateDate and upon a Change of Control, the Loan shall be forgiven as hereinabove provided.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, at any time after the IPO has been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee a loan (the "Loan") in an amount equal to such income taxes, to be interest only for a period of five (5) years, to require yearly payments of simple interest at the same interest rate as the Holding Company incurs to borrow funds from its institutional lenders, to be collateralized only by the stock granted and the Employee otherwise will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the loan shall be fully paid off within three (3) months of the Termination Date and upon the termination of this Agreement pursuant to Sections Section 2 (iii), ) or (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination Date.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, at any time after the IPO Employer has been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide provided to the Employee a loan (the "Loan") in an amount equal to such income taxes, to be ). The Loan provides for payment of interest only for a period of five (5) yearsuntil June 30, to require 2005, requires yearly payments of simple interest interest, at the same interest rate as the Holding Company Employer incurs to borrow funds from its institutional lenders, to be is collateralized only by the stock granted and the Employee otherwise will is not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the loan Loan shall be fully paid off within three (3) months of the Termination Date and Date; upon the termination of this Agreement pursuant to Sections Section 2 (iii), (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination DateDate and upon a Change in Control, the Loan shall be forgiven as hereinabove provided.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, at any time after the IPO has been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee a loan (the "Loan") in an amount equal to such income taxes, to be interest only for a period of five (5) years, to require yearly payments of simple interest interest, at the same interest rate as the Holding Company incurs to borrow funds from its institutional lenders, to be collateralized only by the stock granted and the Employee otherwise will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the loan shall be fully paid off within three (3) months of the Termination Date and upon the termination of this Agreement to Sections 2 (iii), (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination Date.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, at any time after the IPO has been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee a loan (the "Loan") in an amount equal to such income taxes, to be interest only for a period of five (5) years, to require yearly payments of simple interest interest, at the same interest rate as the Holding Company incurs to borrow funds from its institutional lenders, to be collateralized only by the stock granted and the Employee otherwise will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the loan shall be fully paid off within three (3) months of the Termination Date and upon the termination of this Agreement pursuant to Sections 2 (iii), Section 2(iii) or (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination Date.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, at any time after the IPO hereof Employer has been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide provided to the Employee a loan (the "Loan") in an amount equal to such income taxes, to be ). The Loan provides for payment of interest only for a period of five (5) yearsuntil June 30, to require 2005, requires yearly payments of simple interest at the same interest rate as the Holding Company Employer incurs to borrow funds from its institutional lenders, to be is collateralized only by the stock granted and the Employee otherwise will is not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the loan Loan shall be fully paid off within three (3) months of the Termination Date and Date; upon the termination of this Agreement pursuant to Sections 2 (iii), Section (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination DateDate and upon a Change of Control, the Loan shall be forgiven as hereinabove provided.

Stock Loan. (i) In order to help the Employee Employer pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, at any time after the IPO Employer has been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee provided a loan (the "Loan") in an amount equal to such income taxes, to be interest only for a period of five (5) yearsuntil June 30, 2005, to require yearly payments of simple interest at the same interest rate as the Holding Company Employer incurs to borrow funds from its institutional lenders, to be collateralized only by the stock granted and the Employee otherwise will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the loan Loan shall be fully paid off within three (3) months of the Termination Date and upon the termination of this Agreement pursuant to Sections Section 2 (iii), ) or (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination DateDate and upon a Change in Control, the Loan shall be forgiven as hereinabove provided.