ESOP Note Sample Clauses
An ESOP Note clause outlines the terms under which an employee stock ownership plan (ESOP) is documented as a convertible note or similar financial instrument. This clause typically specifies how and when employees can convert their rights under the ESOP into equity, the valuation method used, and any conditions or restrictions on conversion. By clearly defining these mechanisms, the clause ensures transparency for both the company and employees, facilitating the smooth allocation of equity and aligning incentives.
ESOP Note. 62 9.33 Facilities.........................................62 9.34 FERC...............................................62 9.35
ESOP Note. To evidence its obligation in connection with the Loan Proceeds, the Trustee will duly execute and deliver the ESOP Note.
ESOP Note. The Loan shall be evidenced by a ESOP Note of the Borrower in substantially the form of Exhibit A attached hereto, dated the date hereof, payable to the order of the Lender in the Principal Amount and otherwise duly completed.
ESOP Note. The Loan shall be evidenced by an ESOP Note in the form attached hereto as Exhibit A (the “Note”).
ESOP Note. Bank shall have received the ESOP Note, duly executed and delivered by Trustees and payable to the order of Bank.