Leveraged Shares definition

Leveraged Shares means shares of Company Stock acquired by the Trustee with the proceeds of an Acquisition Loan pursuant to Section 5.01. Except as required by Section 409(h) of the Code and by Treasury Regulation Sections 54.4975-7(b)(9) and (10), or as otherwise required by applicable law, no Leveraged Shares may be subject to a put, call or other option, or buy-sell or similar arrangement while held by, or when distributed from, the Plan, whether or not the Plan is an employee stock ownership plan, within the meaning of Code Section 4975(e)(7), at that time.
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Leveraged Shares means shares of Company Stock acquired by the Trustee with the proceeds of an Exempt Loan pursuant to Article 5.
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Leveraged Shares means shares of Employer Stock purchased with an Acquisition Loan.
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Examples of Leveraged Shares in a sentence

  • Leveraged Shares means shares of Company Stock acquired by the Trustee with the proceeds of the Acquisition Loan.

  • Leveraged Shares are allo- cated to participants' accounts as principal is repaid on the loan to the ESOP, which matures in 1999.

  • For any Plan Year during which there are Leveraged Shares in the Suspense Account, to the extent that (i) dividends on Company Stock, and/or (ii) the proceeds of any Acquisition Loan made for the purpose of repaying a prior Acquisition Loan, are not sufficient to pay currently maturing obligations under Acquisition Loans, the Company shall make a Company Acquisition Loan Contribution in an amount equal to the shortfall.

  • In 1989, the ESOP trust purchased from Xxxxxxx Xxxxx 47,851,236 shares of ML & Co. common stock with residual funds from a terminated defined benefit pension plan ("Reversion Shares") and loan proceeds from a subsidiary of Xxxxxxx Xxxxx ("Leveraged Shares").

  • CFS Cayman and Citco Bank are also wholly owned subsidiaries of Citco Group.Citco raised all of the money to purchase the Leveraged Shares that allowed Leveraged to invest with Fletcher in Fletcher Income Arbitrage, Ltd.

  • Additional information on ESOP activity follows: - -------------------------------------------------------------------------------- 1997 ---- 1996 ---- 1995 ---- Dividends used for debt service/(1)/ $ 7 $ 8 $ 9 Compensation costs funded with ESOP shares 193 190 143 - -------------------------------------------------------------------------------- /(1)/ Dividends on all Leveraged Shares are used for debt service on the ESOP loan.

  • The sole remaining countervailing force is the appreciation of the real exchange rate.

  • Share information at December 26, 1997 is as follows: - <TABLE> <CAPTION> REVERSION LEVERAGED SHARES SHARES <S> <C> <C> Allocated 38,962,348 6,104,498 Committed - 173,188 Unallocated - 2,611,202 - </TABLE> The remaining cost of the unallocated Leveraged Shares of $16 at December 26, 1997 is recorded as a reduction of stockholders' equity and represents the remaining ESOP loan balance.

Related to Leveraged Shares

  • Fully Diluted Shares means an amount equal to the sum of (a) the total number of shares of Common Stock outstanding immediately prior to the Effective Time, plus (b) the total number of shares of Common Stock that all In-the-Money Options outstanding immediately prior to the Effective Time are exercisable into at such time and without any withholding of shares to pay the exercise price or Taxes.

  • sweat equity shares means equity shares issued by a company to its employees or directors at a discount or for consideration other than cash for providing know-how or making available rights in the nature of intellectual property rights or value additions, by whatever name called;

  • voting equity securities means equity securities having voting power for the election of directors, whether at all times or only so long as no senior class of security has such voting power by reason of any contingency.

  • Fully Diluted Company Shares means the total number of issued and outstanding shares of Company Common Stock, (a) after giving effect to the Company Preferred Stock or otherwise treating shares of Company Preferred Stock on an as-converted to Company Common Stock basis, and (b) treating all outstanding in-the-money Specified Company Warrants as fully vested and as if the Specified Company Warrants had been exercised for cash as of the Effective Time, but for the avoidance of doubt excluding any Company Securities described in Section 1.11(b).

  • Company Capital Stock means the Company Common Stock and the Company Preferred Stock.

  • Specified Shares means all or, as the case may be, some of the shares specified in a disclosure notice;

  • Qualifying Equity Interests means Equity Interests of the Company other than Disqualified Stock.

  • Acquisition Shares means the shares of an Acquiring Fund to be issued to the corresponding Target Fund in a reorganization under this Agreement.

  • Voting Equity Interests means Equity Interests in a corporation or other Person with voting power under ordinary circumstances entitling the holders thereof to elect the Board of Directors or other governing body of such corporation or Person.

  • A Shares means a participating share of no par value in the capital of the Fund, denominated in US Dollars;

  • Common Shares means the common shares in the capital of the Company;

  • Coop Shares Shares issued by a Cooperative Corporation.

  • New Ordinary Shares means the new Ordinary Shares arising on Conversion of the C Shares;

  • Management Shares means a management share in the capital of the ICAV which shall have the right to receive an amount not to exceed the consideration period for such Management Share.

  • Class B Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Founder Shares shall have the meaning given in the Recitals hereto and shall be deemed to include the shares of Common Stock issuable upon conversion thereof.

  • Equity Shares means the Common Shares and any shares of any other class or series of the Corporation which may from time to time be authorized for issue if by their terms such shares confer on the holders thereof the right to participate in the distribution of assets upon the voluntary or involuntary liquidation, dissolution or winding up of the Corporation beyond a fixed sum or a fixed sum plus accrued dividends;

  • Number of Option Shares means shares of Stock, as adjusted from time to time pursuant to Section 9.

  • Parent Capital Stock means the Parent Common Stock and Parent Preferred Stock.

  • New Equity Interests means the limited liability company

  • Qualified Capital Stock means any Capital Stock that is not Disqualified Capital Stock.

  • Consideration Shares shall have the meaning set forth in Section 2.7(c).

  • Qualifying Preferred Stock means non-cumulative perpetual preferred stock of the Corporation that (a) ranks pari passu with or junior to all other preferred stock of the Corporation, and (b) either (x) is subject to a Qualifying Replacement Capital Covenant or (y) is subject to Intent-Based Replacement Disclosure and has a provision that prohibits the Corporation from paying any dividends thereon upon its failure to satisfy one or more financial tests set forth therein, and (c) as to which the transaction documents provide for no remedies as a consequence of non-payment of dividends other than Permitted Remedies.

  • Fully Diluted Share Number means the aggregate sum of: (i) the number of shares of Company Common Stock issued and outstanding immediately prior to the Effective Time; (ii) the number of shares of Company Common Stock issuable upon the voluntary conversion of all of the shares of Company Preferred Stock issued and outstanding immediately prior to the Effective Time into Company Common Stock and (iii) the number of shares of Company Common Stock issuable upon exercise of all Stock Options.

  • Company Capitalization means the sum, as of immediately prior to the Equity Financing, of: (1) all shares of Capital Stock (on an as-converted basis) issued and outstanding, assuming exercise or conversion of all outstanding vested and unvested options, warrants and other convertible securities, but excluding (A) this instrument, (B) all other Safes, and (C) convertible promissory notes; and (2) all shares of Common Stock reserved and available for future grant under any equity incentive or similar plan of the Company, and/or any equity incentive or similar plan to be created or increased in connection with the Equity Financing.

  • Qualified shares means all shares entitled to be voted with respect to the transaction except for shares that the secretary or other officer or agent of the corporation authorized to count votes either knows, or under subsection 4 is notified, are held by: