Common use of Stock Loan Clause in Contracts

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, Employer has provided to the Employee a loan (the "Loan"). The Loan provides for payment of interest only until June 30, 2005, requires yearly payments of simple interest at the same interest rate as Employer incurs to borrow funds from its institutional lenders, is collateralized only by the stock granted and the Employee otherwise is not personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the Loan shall be fully paid off within three (3) months of the Termination Date; upon the termination of this Agreement pursuant to Section (iv), hereof, the Loan shall be fully paid off within one (1) year after the Termination Date and upon a Change of Control, the Loan shall be forgiven as hereinabove provided.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, Employer at any time after the IPO has provided been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee a loan (the "Loan"). The Loan provides for payment of ) in an amount equal to such income taxes, to be interest only until June 30for a period of five (5) years, 2005, requires to require yearly payments of simple interest at the same interest rate as Employer the Holding Company incurs to borrow funds from its institutional lenders, is to be collateralized only by the stock granted and the Employee otherwise is will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the Loan loan shall be fully paid off within three (3) months of the Termination Date; Date and upon the termination of this Agreement pursuant to Section Sections 2 (iii), (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination Date and upon a Change of Control, the Loan shall be forgiven as hereinabove providedDate.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, Employer at any time after the IPO has provided been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee a loan (the "Loan"). The Loan provides for payment of ) in an amount equal to such income taxes, to be interest only until June 30for a period of five (5) years, 2005, requires to require yearly payments of simple interest at the same interest rate as Employer the Holding Company incurs to borrow funds from its institutional lenders, is to be collateralized only by the stock granted and the Employee otherwise is will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the Loan loan shall be fully paid off within three (3) months of the Termination Date; Date and upon the termination of this Agreement pursuant to Section 2 (iii) or (iv), ) hereof, the Loan shall be fully paid off within one (1) year after the Termination Date and upon a Change of Control, the Loan shall be forgiven as hereinabove providedDate.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, Employer at any time after the IPO has provided been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee a loan (the "Loan"). The Loan provides for payment of ) in an amount equal to such income taxes, to be interest only until June 30for a period of five (5) years, 2005, requires to require yearly payments of simple interest interest, at the same interest rate as Employer the Holding Company incurs to borrow funds from its institutional lenders, is to be collateralized only by the stock granted and the Employee otherwise is will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the Loan loan shall be fully paid off within three (3) months of the Termination Date; Date and upon the termination of this Agreement pursuant to Section 2(iii) or (iv), ) hereof, the Loan shall be fully paid off within one (1) year after the Termination Date and upon a Change of Control, the Loan shall be forgiven as hereinabove providedDate.

Stock Loan. (i) In order to help the Employee Employer pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, Employer has provided to the Employee a loan (the "Loan"). The Loan provides for payment of ) in an amount equal to such income taxes, to be interest only until June 30, 2005, requires to require yearly payments of simple interest at the same interest rate as the Employer incurs to borrow funds from its institutional lenders, is to be collateralized only by the stock granted and the Employee otherwise is will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the Loan shall be fully paid off within three (3) months of the Termination Date; Date and upon the termination of this Agreement pursuant to Section 2 (iii) or (iv), ) hereof, the Loan shall be fully paid off within one (1) year after the Termination Date and upon a Change of in Control, the Loan shall be forgiven as hereinabove provided.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, Employer at any time after the IPO has provided been consummated, the Employer, upon thirty (30) days written notice from the Employee, shall provide to the Employee a loan (the "Loan"). The Loan provides for payment of ) in an amount equal to such income taxes, to be interest only until June 30for a period of five (5) years, 2005, requires to require yearly payments of simple interest interest, at the same interest rate as Employer the Holding Company incurs to borrow funds from its institutional lenders, is to be collateralized only by the stock granted and the Employee otherwise is will not be personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the Loan loan shall be fully paid off within three (3) months of the Termination Date; Date and upon the termination of this Agreement pursuant to Section Sections 2 (iii), (iv) or (v), hereof, the Loan shall be fully paid off within one (1) year after the Termination Date and upon a Change of Control, the Loan shall be forgiven as hereinabove providedDate.

Stock Loan. (i) In order to help the Employee pay any required income taxes with respect to the stock granted to the Employee pursuant to the provisions of Section 4.1 hereof, hereof Employer has provided to the Employee a loan (the "Loan"). The Loan provides for payment of interest only until June 30, 2005, requires yearly payments of simple interest at the same interest rate as the Employer incurs to borrow funds from its institutional lenders, is collateralized only by the stock granted and the Employee otherwise is not personally obligated to repay the Loan; provided that upon the termination of this Agreement pursuant to the provisions of Section 2(i) or (ii), the Loan shall be fully paid off within three (3) months of the Termination Date; upon the termination of this Agreement pursuant to Section (iv), hereof, the Loan shall be fully paid off within one (1) year after the Termination Date and upon a Change of Control, the Loan shall be forgiven as hereinabove provided.