ESOP Stock definition

ESOP Stock means the common stock of Yardville National Bancorp, par value $.01 per share, or such other security that meets the requirements of Section 409(l) of the Code.

ESOP Stock means Employer Stock acquired with the proceeds of an Exempt Loan, as defined in Supplement A.

ESOP Stock means the outstanding shares of non-voting preferred stock of Smitx Xxxhnology.

Examples of ESOP Stock in a sentence

• Each Participant is solely responsible for any decision to defer compensation into his or her EDCP Stock Account, and to retain in his or her ESOP Stock Account any amounts credited thereto, and to transfer amounts to and from his or her Stock Accounts.

• The Plan Administrator shall credit an appropriate number of shares of Company Stock to the ESOP Stock Account of such Participant, and the Participant’s ESOP Cash Account shall then be charged by the amount of cash used to purchase such Company Stock for the Participant’s ESOP Stock Account.

• The Plan Administrator shall credit to the ESOP Cash Account of each Participant any cash dividends paid to the Trustee on shares of Company Stock held in that Participant’s ESOP Stock Account as of a record date.

• Shares of Company Stock received by the Trustee that are attributable to stock dividends, stock splits or to any reorganization or recapitalization of the Company shall be credited to the Participants’ ESOP Stock Accounts so that the interests of Participants immediately after any such stock dividend, split, reorganization or recapitalization are the same as such interests immediately before such event.

• Upon the purchase of Company Stock with cash held in a Participant’s ESOP Cash Account, an appropriate number of shares of Company Stock shall be credited to the Participant’s ESOP Stock Account and the Participant’s ESOP Cash Account shall be charged by the amount of the cash used to purchase the Company Stock for the Participant’s ESOP Stock Account.

More Definitions of ESOP Stock

ESOP Stock means all of the Borrower's stock acquired by the ---------- ESOP with the proceeds of the ESOP Note.

ESOP Stock means the shares of Common Stock issued to the ESOP pursuant to the Merger Agreement and any additional shares of Common Stock or other securities issued in respect of such shares in connection with a stock dividend, stock split, recapitalization, reclassification or other transaction affecting ASI's outstanding Common Stock.

ESOP Stock means the outstanding common stock of Mercury ---------- acquired by Borrower with the proceeds of the Bridge Loan.

ESOP Stock means Common Stock.

ESOP Stock. Fifth Amendment", "Goulx Xxxitration Award", "Goulx Xxxtlement Agreement", "Gravers Settlement Agreement", "Intangible Assets, "Joint Venture Arrangement", "Maturity Date", "Mutual Pharmaceutical Settlement Agreement", "Net Worth", "Note", "PRP Group", "Repayment Conditions", "Stock Repurchase Agreement", "U-Max Litigation", and "Winsxxxx Xxxtlement Agreement", and the definitions thereof, are added to Paragraph 1 in the appropriate alphabetical order:

ESOP Stock. Goulx Xxxitration Award", "Goulx Xxxtlement Agreement", "Intangible Assets, "Joint Venture Arrangement", "Mutual Pharmaceutical Settlement Agreement", "Net Worth", "PRP Group", "Stock Repurchase Agreement", and "U-Max Litigation", and the definitions thereof, are added to Paragraph 1 in the appropriate alphabetical order:

ESOP Stock means any class of common stock or preferred stock convertible into common stock of the Employer or an Affiliated Company that is held in the Chemung Canal Trust Company stock fund. If any employer securities are acquired with the proceeds of an Exempt Loan, unallocated ESOP Stock shall remain in a suspense account described in Section 6.6 until allocated to Participants’ ESOP Accounts pursuant to that Section.