ESOP Purchases means tax-deductible contributions by the Borrower or any ERISA Affiliate to the ESOP for the purpose of repaying any ESOP Loan or any annual installment thereof, pursuant to the terms of the ESOP.
Net Purchases means purchases of goods and services charged to the Account, less refunds and adjustments;
ESOP means a Plan that is intended to satisfy the requirements of Section 4975(e)(7) of the IRC.