ESOP Termination Date definition

ESOP Termination Date shall have the meaning given to that term in Section 5.17.
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ESOP Termination Date shall have the meaning set froth in Section 7.6.8.
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ESOP Termination Date has the meaning given to such term in Section 6.07(e) of this Agreement
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Examples of ESOP Termination Date in a sentence

  • The accounts of all participants and beneficiaries in the ESOP as of the ESOP Termination Date shall become fully vested as of the ESOP Termination Date.

  • Any unallocated shares of Cheviot Financial Common Stock held in the Cheviot Financial ESOP’s Suspense Account after repayment of the ESOP Loan shall be converted into Merger Consideration and shall be allocated as earnings to the accounts of Cheviot Financial ESOP participants who are employed as of the ESOP Termination Date based on their account balances under the Cheviot Financial ESOP as of the ESOP Termination Date.

  • On the ESOP Termination Date, the Seller shall direct the Seller ESOP trustee(s) to remit a sufficient number of shares of Seller Common Stock held by the ESOP’s unallocated suspense account to Seller or any other lender (as applicable) to repay the full outstanding balance of the Seller ESOP loan(s), with each remitted share to be valued in an amount equal to the Merger Consideration.

  • From the date of this Agreement until the ESOP Termination Date, contributions by FedFirst or any FedFirst Subsidiary to the FedFirst ESOP shall be made solely in accordance with the FedFirst ESOP loan amortization schedule(s) in effect as of the date of this Agreement.

  • The Trustee and the Company shall take or cause to be taken all such actions as may be necessary to effect the actions set forth below relating to the ESOP prior to or simultaneous with the Closing, as applicable: Effective on the day immediately before the Closing, the ESOP shall be terminated (the “ESOP Termination Date”), no new participants shall be admitted on or after the ESOP Termination Date, and all existing ESOP participants’ accounts shall be fully vested and 100% non-forfeitable.

  • No new participants shall be admitted on or after the ESOP Termination Date and all existing ESOP participants’ accounts shall become fully vested and 100% non-forfeitable.

  • The Company or the Plan administrator within the meaning of Section 3(16)(A) of ERISA, will submit to the IRS an application requesting a favorable letter of determination with respect to the continued tax qualification for the ESOP through the ESOP Termination Date (the “Determination Letter Request”) after the Closing Date.

  • To the extent requested by BFST, PBI shall file or cause to be filed all necessary documents with the IRS for a determination letter for termination of the ESOP in connection with the ESOP Termination Date.

  • On the ESOP Termination Date, FedFirst shall direct the FedFirst ESOP trustee(s) to remit a sufficient number of shares of FedFirst Common Stock held by the ESOP’s Unallocated Company Stock Suspense Account (as defined in Section 1.50 of the FedFirst ESOP) to FedFirst or any other lender (as applicable) to repay the full outstanding balance of the XxxXxxxx XXXX xxxx(x).

  • Notwithstanding the foregoing, Standard Bank will continue to make regularly scheduled payments on the ESOP Loan and related share allocations through the ESOP Termination Date.


More Definitions of ESOP Termination Date

ESOP Termination Date is defined in Section 7.14.
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Related to ESOP Termination Date

  • Outside Termination Date shall have the meaning set forth in Section 8.01(f).

  • Initial Termination Date has the meaning set forth in Section 8.2(a).

  • Extended Termination Date has the meaning specified in Section 2.16(c).

  • Agreement Termination Date is defined in Section 7.4.

  • Escrow Termination Date has the meaning ascribed to such term in Section 9.12.

  • Service Termination Date means the last Day in a month upon which Service shall terminate, as set forth in a Schedule of Service and subject to any renewal thereof.

  • Offering Termination Date means the last day of each March, June, September and December following an Offering Commencement Date, or such other Offering Termination Date established in connection with a Terminating Event.

  • Scheduled Termination Date means the date that is 364 days from (and including) the Effective Date, or any succeeding date to which the term of this Agreement is extended pursuant to Section 2.03.

  • Series Termination Date means, with respect to any Series of Notes, the date specified as such in the applicable Series Supplement.

  • Final Termination Date means the last date of the final year in which the Applicant is required to Maintain Viable Presence and as further identified in Section 2.3.E of this Agreement.

  • Effective Termination Date has the meaning set forth in Section 10(b) hereof.

  • Plan Termination Date means the date that is ten (10) years after the Effective Date, unless the Plan is earlier terminated by the Board pursuant to Section 15 hereof.

  • Optional Termination Date Any Distribution Date on or after which the Stated Principal Balance (after giving effect to distributions to be made on such Distribution Date) of the Mortgage Loans is less than 10.00% of the Cut-off Date Balance.

  • Senior Termination Date For each Senior Certificate Group, the Distribution Date on which the aggregate Class Certificate Balance of the related Classes of Senior Certificates has been reduced to zero.

  • Accrual Termination Date Not applicable.

  • Mandatory Termination Date means the "Termination Date" set forth under "Investment Summary--Essential Information" in the Prospectus for the Trust.

  • Stated Termination Date means, with respect to the Revolving Credit Facility, March 4, 2027 and, with respect to any Extended Revolving Credit Facility, the maturity date set forth in the Extension Agreement related thereto.

  • Standstill Termination Date means the earlier of (i) the first anniversary of the Board Rights Termination Date and (ii) the later of (A) the third anniversary of this Agreement or (B) the first anniversary of the date on which both the Purchaser Designated Director has resigned from the Board and the Purchaser has permanently waived and renounced the Purchaser’s Board observation rights and Board designation rights in Section 1 and Section 2 of this Agreement.

  • Event Termination Date See Section 2(e) hereof.

  • Purchase Termination Date means the date upon which the Transferor shall cease, for any reason whatsoever, to make purchases of Receivables from the Seller under the Receivables Purchase Agreement or the Receivables Purchase Agreement shall terminate for any reason whatsoever.

  • Premium Termination Date With respect to the Series A Certificates, the scheduled maturity date of the Series A Certificates, with respect to the Series B Certificates, the scheduled maturity date of the Series B Certificates and with respect to the Series C Certificates, the scheduled maturity date of the Series C Certificates.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Anticipated Termination Date Any Distribution Date on which it is anticipated that the Trust Fund will be terminated pursuant to Section 9.01(c) of this Agreement.

  • Lease Termination Date means the last day of the Lease Term.

  • Commitment Termination Date means the earlier of (a) the Maturity Date and (b) the earlier termination in whole of the Commitments pursuant to Section 2.04 or Article VII.

  • Facility Termination Date means the date as of which all of the following shall have occurred: (a) the Aggregate Commitments have terminated, (b) all Obligations have been paid in full (other than contingent indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Administrative Agent and the L/C Issuer shall have been made).