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.

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.

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.

Examples of ESOP Loans in a sentence

• With the seller’s consent, the installment period may be extended to the earlier of 10 years from the exercise of the put option or the date on which the ESOP Loans related to the ESOP Stock have been satisfied, if that is longer than five years, provided the purchaser furnishes adequate security in addition to the purchaser’s promissory note.

• 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.

• To effectuate this purpose, the Trustee is authorized to enter into ESOP Loans and to apply the proceeds thereof to the acquisition of shares of Stock or to the repayment of such ESOP Loans or a prior ESOP Loan.

• Form 5500 for the ESOP in issue in this case was filed around October 15, 2013.The supplemental attachments to that Form 5500 explained the transaction:Closing on December 14, 2012, the Plan purchased all of the issued and outstanding shares (Shares) of common stock of the Company and financed the purchase with two loans (ESOP Loans) from the Sellers that are evidenced by two executed Promissory Notes, and pledged the Shares to the Sellers to secure payment of the Notes.

• 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.

More Definitions of ESOP Loans

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

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

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 LifePoint common stock by the ESOP.

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 the loans provided by the Group to Xxxxxxx Xxxxxxxx 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 the "ESOP Loans" as such term is defined in ---------- the Second Restated Agreement.

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