Examples of ESOP Pledge Agreement in a sentence
This Note is collateralized by a pledge of stock under an ESOP Pledge Agreement of even date herewith.
The Company expressly acknowledges and agrees that this ESOP Loan Agreement, the ESOP Note and the ESOP Pledge Agreement are being executed by the Trustee not in its individual capacity but solely as trustee of and on behalf of the Borrower.
As used herein, “Trust” means the ESCO Corporation Employee Stock Ownership Trust, as amended, which has been established pursuant to the ESCO Corporation Employee Stock Ownership Plan, as amended (the “Plan”); “ESOP Loan” means the transaction evidenced by the ESOP Credit Agreement, ESOP Note and ESOP Pledge Agreement between the corporation and the ESOP used to finance the acquisition of the C Shares by the ESOP; and “ESOP” is the Plan together with the Trust.
The Company shall not amend or repeal its articles of incorporation or bylaws, or violate or breach any of the provisions thereof.
This Agreement, the ESOP Note and the ---------------- ESOP Pledge Agreement set forth the entire agreement of the parties with respect to the subject matter hereof and thereof and supersede all previous understandings, written or oral, in respect thereof.