ESOP Loans definition

ESOP Loans means loans or other extensions of credit to the ESOP by Borrower or any of its Subsidiaries or guarantees by such Persons of loans or other extensions of credit to the ESOP by a third party lender, in either case in connection with the purchase of the Equity Interests of Borrower.

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ESOP Loans means a loan or loans to be made from time to time by the Borrower to the ESOP in an aggregate amount not to exceed $25,000,000, solely to enable the ESOP to effect the ESOP Investment.

ESOP Loans means loans to the ESOP by the Company or guarantees by the Company of loans to the ESOP by a third party lender, in either case in connection with the purchase as promptly as practicable of shares of the Company's common stock by the ESOP.

Examples of ESOP Loans in a sentence

• There are no liabilities of the ESOP other than the ESOP Loans and the obligation to pay the benefits to the ESOP participants under the ESOP in the ordinary course of business.

• The shares of Company Common Stock held by the ESOP are owned of record and beneficially by the ESOP, free and clear of all encumbrances other than the pledge in favor of the Company in connection with ESOP Loans evidenced by the ESOP Loan Agreement by and between the Company and the ESOP trustee.

• All remaining shares of Company Common Stock held by the ESOP as of immediately prior to the Effective Time, including any unallocated shares held in the ESOP Loan suspense account (which shall not include any shares of Company Common Stock used for purposes of repaying or forgiving the ESOP Loans) shall be converted into the right to receive the Merger Consideration.

• Each ESOP Lender hereby authorizes the Agent to ---------- enter into the ESOP Agreements on its behalf and accepts an interest in the ESOP Loans in an amount equal to the amount set forth opposite such ESOP Lender's name under the heading "ESOP Lenders" on Schedule I hereof.

• Employee Stock Ownership Plan not to exceed the monthly contributions being made to amortize any outstanding ESOP Loans in accordance with the payment schedule in effect as of December 31, 2012.

More Definitions of ESOP Loans

ESOP Loans means those outstanding loans to the ESOP Trust from the ESOP Lender pursuant to the ESOP Loan Agreements;

ESOP Loans means those loans made pursuant to loan agreements amended pursuant to the ESOP Agreements.

ESOP Loans the loans provided by the Group to ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ pursuant to loan agreements entered into in 2022 for repurchasing interests in the Share Incentive Platforms from exiting participants of the Subsidiary Share Incentive Scheme in accordance with the relevant terms of the Subsidiary Share Incentive Scheme

ESOP Loans means loans to the ESOP by Holdings or guarantees by Holdings of loans to the ESOP by a third party lender, in either case in connection with the purchase as promptly as practicable of shares of Triad common stock by the ESOP.

ESOP Loans means the "ESOP Loans" as such term is defined in ---------- the Second Restated Agreement.

ESOP Loans means the $116.9 million loan and the $14.6 million loan made by the Issuer to Susquehanna Pfaltzgraff Co. on or about May 12, 1999 and July 18, 2001, respectively.

ESOP Loans means, collectively, the ATI ESOP Loan and the EDO ESOP Loan.