LESOP Trust definition
Examples of LESOP Trust in a sentence
Effective as of a date prior to the date hereof, a member of the Valvoline Group assumed and became the sponsor of the LESOP and the LESOP Trust and thereafter any required contributions with respect to the LESOP (whether relating to Valvoline Employees, Former Valvoline Employees, Ashland Global Employees or Former Ashland Global Employees) and any plan-related expenses that are not payable by the LESOP Trust shall be made by a member of the Valvoline Group.
When immediately preceded by "Agere," LESOP Trust has the meaning set forth in Section 4.2(c)(i).
LESOP Trust, when immediately preceded by "Lucent," means the trust established by Lucent under Article 20 of the Lucent LTSSP.
Effective no later than Immediately after the Distribution Date, Lucent shall use its reasonable best efforts to enter into agreements acceptable to Lucent to accomplish such assumption and transfers, the maintenance of the necessary participant and suspense account records, the appointment of Bankers Trust Company as initial trustee of the Lucent LESOP Trust, and the engagement of the then-current recordkeeper of the AT&T LESOP as initial recordkeeper of the Lucent LESOP.
In furtherance of such dispositions and reinvestments, Lucent and Avaya shall take all actions necessary or appropriate to permit the exchange of shares of Avaya Common Stock held by the Lucent LESOP Trust for shares of Lucent Common Stock held by the Avaya LESOP Trust, including the engagement of a fiduciary not affiliated with either Lucent or Avaya to advise the parties regarding the time and manner (including the exchange ratio) of such exchange.
Lucent and Avaya shall use their reasonable best efforts to cause the terms of the Lucent Acquisition Loan and the Avaya Acquisition Loan to be as favorable to Avaya and Lucent, respectively, as the terms of the Existing Acquisition Loan, and, to the extent permitted by applicable law, the terms of the Avaya Acquisition Loan to be no less favorable to Avaya and the Avaya LESOP Trust than the terms of the Lucent Acquisition Loan are to Lucent and the Lucent LESOP Trust.
AT&T and Lucent shall use their reasonable best efforts to cause the terms of the AT&T Acquisition Loan and the Lucent Acquisition Loan to be as favorable to Lucent and AT&T, respectively, as the terms of the Existing Acquisition Loan, and, to the extent permitted by applicable law, including Code Section 133, the terms of the Lucent Acquisition Loan to be no less favorable to Lucent and the Lucent LESOP Trust than the terms of the AT&T Acquisition Loan are to AT&T and the AT&T LESOP Trust.
In furtherance of such dispositions and reinvestments, AT&T and Lucent shall take all actions necessary or appropriate to permit the exchange of shares of Lucent Common Stock held by the AT&T LESOP Trust for shares of AT&T Common Stock held by the Lucent LESOP Trust, including the engagement of a fiduciary not affiliated with either AT&T or Lucent to advise the parties regarding the time and manner (including the exchange ratio) of such exchange.