Employee Loan definition

Employee Loan. Any Mortgage Loan identified as such in the Mortgage Loan Schedule and which was originated by the Seller, which provides for an increase in the Loan Rate thereof in the event of the change of employment of the Mortgagor thereunder.

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Employee Loan means any loan made to a Participant on the Recapitalization Closing Date to assist the Participant in paying certain income tax liability.

Employee Loan means a loan or an advance to any Employee made in the ordinary course of business and consistent with past practices, including pursuant to any Restricted Subsidiary Employee Plan.

Examples of Employee Loan in a sentence

Debtor and Secured Party are parties to an Employee Loan Agreement (the “Loan Agreement”), and Debtor has executed a Secured Promissory Note dated as of the date hereof (the “Note”), in favor of the Secured Party in the principal amount of $250,000.00.
This release includes but is not limited to your obligation to repay those advances made to you conditioned on your acquiring or maintaining an equity position in IHS pursuant to the 1999 Employee Loan Program or any successor program established referred to in Paragraph 4 hereof.
Subject to the provisions of subsection (d) below, each Employee Loan shall bear interest on the outstanding principal balance thereunder at a per annum rate equal to the Applicable Rate.
Regardless of which election is made by Employee, the Company shall also pay the Employee the aggregate of all remaining Employee Loan Repayment, if any, previously paid to Employee.
Additionally, the Company agrees that in the event the Company shall increase its gross sales in any year by at least thirty percent (30%) over the gross sales in the prior year, or if the Company's EBIDTA shall be at least __________ in any year, the Company shall cause Employee to receive a cash bonus necessary to cover all tax liability, at the maximum tax rate applicable, attributable to the Employee Loan Repayment, and the bonus provided hereby (the "Gross-up").

More Definitions of Employee Loan

Employee Loan means the loan made to an Eligible Loan Participant from a Participating Company for the purpose of making an Employee Contribution to the Plan as provided for in Subsection 6.2(b);

Employee Loan means any outstanding loan made by the Company or its Subsidiaries to any Company Shareholder for which the Company or its Subsidiaries retains Company Class B Shares as collateral.

Employee Loan is defined in Section 2.7(l).

Employee Loan means the loan or loans made by the Company to an Eligible Employee to be used by the Eligible Employee to purchase Shares under the Plan.

Employee Loan means a loan, made in the ordinary course of business, from the Company to an Employee consistent with past practice.

Employee Loan means the employee loan as defined in sec. 6.

Employee Loan means the loan or loans made by the Corporation (or an Affiliate of the Corporation) at any time or from time to time to an Employee to be used by the Employee to purchase Shares to be held by and in the name of the Trustee for the benefit of the Employee in accordance with the terms of the Plan.