ESOP Trustees definition

ESOP Trustees means the party or parties appointed by the Board of Directors as trustee of the ESOP Trust and named as trustee pursuant to the trust agreement governing the ESOP Trust or any successors thereto.
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ESOP Trustees is defined in Section 2.2(d) hereof.
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ESOP Trustees has the meaning set forth in Section 7.2(a).
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Examples of ESOP Trustees in a sentence

  • Any sum the Corporation or the ESOP elects to pay in installments shall be paid to the Shareholder, or his heirs, beneficiaries, personal representative or guardian, as the case may be, over such period as the Board or the ESOP Trustees may determine, provided that such period shall not exceed five (5) years.

  • Gamache sent a letter to the Company, via the Board of Directors, raising his concerns that the ESOP Trustees had acquired an ownership interest in the Company to the detriment of the ESOP and its participants and requesting that action be taken to remedy this issue, including by removing the ESOP Trustees.

  • Notwithstanding the foregoing, nothing in this Section 12.8 shall prohibit delegation of the ESOP Trustee's voting responsibilities or duties to another named fiduciary or investment manager to the extent permitted by, and in accordance with, the Act.

  • Neither the Corporation, any other Employer, the Advisory Committee, the Benefits Department nor the ESOP Trustees guarantee the ESOP Trust Fund against any loss or depreciation or guarantees the payment of any benefits hereunder.

  • Notwithstanding anything set forth in the Plan or the Trust Agreements to which the ESOP Trustees are parties, no borrowing of funds to purchase of Employer Securities shall be made by the ESOP Trustees without their first obtaining a recommendation from the Advisory Committee stating: (1) that the Advisory Committee recommends that the ESOP Trustees borrow funds to acquire shares of Employer Securities, and (2) the terms and conditions which they recommend such borrowing be made.

  • Under the bylaws, the shareholders (i.e., the ESOP and its Trustees after the transaction) can remove any Director and elect his or her successor at a special meeting called for that purpose, but only the Board can, by majority vote, remove and replace officers appointed by the Board (such as ESOP Trustees).

  • In the event such determination is unfavorable, then prior to making any distributions hereunder, the Benefits Department and the ESOP Trustees shall pay any Federal or state income taxes due because of the income of the ESOP Trust Fund and shall then distribute the balance in the manner above provided.

  • Adam and Carole Vinoskey signed the letter as ESOP Trustees, acknowledging Gust’s role and consenting to the representation.

  • Between December 8, 2010 (before the 2010 Transaction) and August 23, 2011, Adam Vinoskey, Carole Vinoskey, and Michael Connor served as ESOP Trustees.

  • The Board shall maintain an ESOP Trust Agreement pursuant to which the ESOP Trustees shall be appointed providing for the administration of the ESOP Fund in such form and containing such provisions as the Board may deem appropriate.


More Definitions of ESOP Trustees

ESOP Trustees means Principal Trust Company and, to the extent applicable, the independent Trustee engaged with respect to the transactions contemplated by this Agreement.
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ESOP Trustees means Xxxxx Xxxxxxxx, Xxxx Xxxx and Xxxxxx Xxxxxx.
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ESOP Trustees or “Trustees” shall mean such persons appointed by the Company and more particularly set out in the trust deed, to manage the Plan.
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ESOP Trustees shall have the meaning set forth in Section 3.28(f).
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ESOP Trustees means the trustees of the ESOP Trust pursuant to Section 2.31 of the
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Related to ESOP Trustees

  • Parent Trustees means the Trustees elected or appointed pursuant to Articles 53 – 56 inclusive;

  • Independent Trustees means the members of the Fund’s Board of Trustees who are not "interested persons" (as defined in the 0000 Xxx) of the Fund and who have no direct or indirect financial interest in the operation of this Plan or in any agreement relating to this Plan.

  • Trustees refers to the persons who have signed this Agreement and Declaration of Trust, so long as they continue in office in accordance with the terms hereof, and all other persons who may from time to time be duly elected or appointed to serve on the Board of Trustees in accordance with the provisions hereof, and reference herein to a Trustee or the Trustees shall refer to such person or persons in their capacity as trustees hereunder;

  • Other Trustees Means the trustees under the Other Agreements, and any successor or other trustee appointed as provided therein.

  • or "Trustees means each Person who has signed this Declaration as a trustee, so long as such Person shall continue in office in accordance with the terms hereof, and all other Persons who may from time to time be duly appointed, qualified and serving as Trustees in accordance with the provisions hereof, and references herein to a Trustee or the Trustees shall refer to such Person or Persons solely in their capacity as trustees hereunder.

  • Issuer Trustees means, collectively, the Property Trustee, the Delaware Trustee, and the Administrative Trustees.

  • Administrative Trustees shall have the meaning set forth in the Trust Agreement.

  • Majority of the Trustees means a majority of the Trustees in office at the time in question. At any time at which there shall be only one (1) Trustee in office, such term shall mean such Trustee.

  • the Trustees means the directors of the Academy Trust (and “Trustee” means any one of those directors), subject to the definition of this term at Article 6.9 (e) in relation to Articles 6.2-6.9;

  • Authenticating Agents As defined in Section 9.10.

  • Board of Trustees means the trustees from time to time serving under the Trust’s declaration of trust, as amended from time to time.

  • Indenture Trustees means the Senior Notes Indenture Trustee and the Subordinated Notes Indenture Trustee.

  • Qualified Trustees means those Trustees of the Trust who are not interested persons of the Trust, and have no direct or indirect financial interest in the operation of this Plan or any agreements related to it, and (b) the term "majority of the outstanding Class C shares of the Trust" means the affirmative vote, at a duly called and held meeting of Class C shareholders of the Trust, (i) of the holders of 67% or more of the Class C shares of the Trust present (in person or by proxy) and entitled to vote at such meeting, if the holders of more than 50% of the outstanding Class C shares of the Trust entitled to vote at such meeting are present in person or by proxy, or (ii) of the holders of more than 50% of the outstanding Class C shares of the Trust entitled to vote at such meeting, whichever is less, and (c) the terms "assignment" and "interested person" shall have the respective meanings specified in the Act and the rules and regulations thereunder, subject to such exemptions as may be granted by the Securities and Exchange Commission.

  • Eligible Lender Trustee shall also mean each successor Eligible Lender Trustee as of the qualification of such successor as Eligible Lender Trustee under the Trust Agreement.

  • Escrow Trustee means the bank or trust company designated by the Fiscal Officer in the Certificate of Award as the initial escrow agent with respect to the Refunded Bonds under the Escrow Agreement and until a successor Escrow Trustee shall have become such pursuant to the provisions of the Escrow Agreement and, thereafter, "Escrow Trustee" shall mean the successor Escrow Trustee.

  • Initial Holders has the meaning set forth in the preamble.

  • Independent Trustee means a Trustee who is not an interested person within the meaning of Section 2(a)(19) of the Investment Company Act.

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

  • Transfer Agents means the Transfer Agents referred to above and such further or other Transfer Agent or Agents as may be appointed from time to time hereunder either generally or in relation to a specific Series of Notes.

  • Company Securityholders means the Company Stockholders, Company Optionholders and Company Warrantholders, collectively.

  • Outside Trustee With respect to an Outside Serviced Mortgage Loan, the trustee under the applicable Outside Servicing Agreement.

  • NIM Trustee The trustee for the NIM Securities.

  • Managers means a Person who is named or designated as a manager or managing member or otherwise acts in the capacity of a manager or managing member of a limited liability company in a limited liability company agreement or similar instrument under which the limited liability company is formed or operated.

  • Securityholders Agreement means the Securityholders Agreement of even date herewith among the Company and certain of its securityholders, as amended from time to time pursuant to its terms.

  • Continuing Trustee means any member of the Board of Trustees who either (a) has been a member of the Board of Trustees for a period of at least thirty-six months (or since the commencement of the Trust’s operations, if less than thirty-six months) or (b) was nominated to serve as a member of the Board of Trustees by a majority of the Continuing Trustees then members of the Board of Trustees.

  • Interim Eligible Lender Trustee shall also mean each successor Interim Eligible Lender Trustee as of the qualification of such Interim Eligible Lender Trustee under the Interim Trust Agreement.