ESOP Note definition

ESOP Note means the Promissory Note dated June 13, 2000, made in favor of the Marriott Asset Fund.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

ESOP Note means that certain ESOP Note, dated as of April 1, 2007, made by GreatBanc (on behalf of the ESOP Trust) in favor of Tribune in the original principal amount of

ESOP Note has the meaning specified in Section 2.05(c).

Examples of ESOP Note in a sentence

Any contributions limited or not made in a timely fashion pursuant to the preceding sentence shall be (i) carried over and paid to the Plan as soon as is practicable in connection with contributions to the Plan and (ii) increased by an amount sufficient for the Trustee to pay any increased interest or other costs arising under the ESOP Note from the failure to make any payment thereunder when due.
If Company makes contributions in an amount in excess of Scheduled Contributions (and Permitted Contributions, if applicable) ("Excess Contributions"), Company shall cause the Plan Administrator (as set forth in the Plan) to direct the Trustee to use such Excess Contributions to prepay the ESOP Note.
The Trustee acknowledges that the ESOP Note and pledged "qualifying employer securities" will be endorsed and assigned by Company to Lender as collateral for the Loan.
Company shall pledge and endorse to Bank the ESOP Note and any stock of Company from time to time pledged as security to the ESOP Note.
Notwithstanding anything contained herein to the contrary, Bank shall have no right of setoff or any claims to any shares of the common stock of Company which Bank may be holding as custodian on behalf of the Trust or any funds of the Trust deposited with Bank except such shares as are pledged to secure the ESOP Note, but only to the extent permitted by law.

ESOP Note means the ESOP’s 30-year amortizing 5.01% note as in effect on the Closing Date.

ESOP Note is defined in Section 5.25.

ESOP Note means that certain Non-Recourse Promissory Note, dated November 20, 1996, in the amount of $1,398,600,000, issued by the MidCon ESOP Trust to the Seller.

ESOP Note means the 4.75% promissory note of the ESOP payable to NY Medical in approximate $10,090,000 principal amount at December 31, 2002.

ESOP Note means the promissory note in the original principal --------- amount of Twenty-two Million Five Hundred Thousand and no/100 Dollars ($22,500,000) dated as of the date of this Agreement, made by the ESOP and payable to the Borrower.

ESOP Note means the Promissory Note, dated November 20, 1996, made by the ESOP Trust in favor of the Corporation pursuant to the Loan Agreement.

ESOP Note has the meaning set forth in Section 2.2. ---------