Periodic Deposit Account definition
Periodic Deposit Account means the account established and maintained by the Company to which shall be credited pursuant to Section 3(c) amounts received from Participants for the purchase of Stock under the Plan.
Examples of Periodic Deposit Account in a sentence
The Company shall take all actions necessary to cause the Company's Amended and Restated Employee Stock Purchase Plan (the "Stock Purchase Plan") to terminate prior to the Effective Time and to cause each participant's Periodic Deposit Account, as defined in the Stock Purchase Plan, to be returned and paid in cash at the time of termination without the purchase of any shares.
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