ESOP Indebtedness definition

ESOP Indebtedness means the Indebtedness owing by the ESOP to the Company pursuant to the ESOP Loan Documents and all interest, fees, reimbursement obligations, expenses, indemnification and other obligations with respect thereto.
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ESOP Indebtedness means the Indebtedness owing by the ESOP to the Company pursuant to the ESOP Loan Documents and all interest, fees, reimbursement obligations, expenses, indemnification and other obligations with respect thereto. “ESOP Loan Agreements ” means the (a) ESOP Loan Agreement, dated as of March 28, 2000, between the Company, as lender and the ESOT and (b) ESOP Loan Agreement No. 2, dated as of July 21, 2003, between the Company, as lender, and the ESOT, in each case as the same now exists and may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. “ESOP Loan Documents ” means, collectively, the ESOP Loan Agreements, the ESOP Notes and all other agreements, documents and instruments executed and/or delivered in connection with any of the foregoing, as each of the foregoing now exists and may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. “ESOP Notes ” means the (a) Promissory Note, dated March 28, 2000 and (b) Promissory Note, dated July 21, 2003, in each case payable by the ESOT to the Company, as the same now exists and may hereafter be amended, modified, supplemented, executed, renewed, restated or replaced. “ESOT ” means ▇▇▇▇▇▇ Bros. Co. Employee Stock Ownership Benefit Trust, created by the Company pursuant to the ESOT Trust Agreement to implement the ESOP, as the same now exists and may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. “ESOT Trust Agreement ” means the ▇▇▇▇▇▇ Bros. Co. Employee Stock Ownership Trust Agreement, dated September 28, 2005, between the Company and the ESOT Trustee, as the same now exists and may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. “ESOT Trustee ” means Greatbanc Trust Company and any successors in such capacity. “EU Bail-In Legislation Schedule ” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. “Eurodollar ”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the Adjusted LIBO Rate. 21
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Examples of ESOP Indebtedness in a sentence

  • The calculation used to determine the proportionate number of days to be returned will be by dividing the total number of remaining days by the total number of Active Members.

  • Section 3.10(a) ESOP Indebtedness..............................................................

  • Storehouse shall contribute to the -------------------- ESOP on or before October 15, 1998 an amount aggregating $1,900,000 (less any amounts previously contributed by Storehouse to the ESOP with respect to the ESOP's plan year ended January 31, 1998 (the "1998 Plan Year"), plus accrued interest, which amount shall be applied by the ESOP to repay a principal amount of indebtedness from the ESOP to Storehouse (the "Internal ESOP Indebtedness") equal to $1,900,000, plus accrued interest.

  • Assuming that each Borrower makes all required contributions in accordance with the terms of each ESOP, each ESOP has or will have sufficient funds to make all scheduled payments on its ESOP Indebtedness.

  • Each loan, guarantee or other indebtedness ("ESOP Indebtedness") by the Company or any Subsidiary or any Company Plan which is an "employee stock ownership plan" (within the meaning of Section 4975(e)(7) of the Code) incurred or entered into in connection with the purchase or refinance of the prior purchase of "qualifying employer securities" (within the meaning of Section 4975(e)(8) of the Code) has been repaid in full.

  • At Closing, immediately after the cancellation of the Outstanding ESOP Indebtedness pursuant to Section 7.5(b), 288,989 shares of common stock of the Company shall be issued and outstanding.

  • A complete list of all of the issued and outstanding Shares of the Company, all of which are held by the Seller, is set forth on Schedule 4.3. The authorized capital stock of the Company consists of 3,000,000 shares of common stock, par value $0.0001 per share, of which 360,262 shares are issued and outstanding immediately prior to the cancellation of the Outstanding ESOP Indebtedness pursuant to Section 7.5(b).

  • Assuming that each Borrower makes all required contributions in accordance with the terms of each ESOP, each ESOP has or will have sufficient funds to make all scheduled payments on its ESOP Indebtedness, Holding Company has sufficient funds to meet its reasonably anticipated repurchase liability during the Loan Period.