EBT Loan definition

EBT Loan means the loan from the Company to the EBT for the purpose of acquiring Common Shares from departing employees, which amounts to US$517,500 and L49,980.87;

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EBT Loan means the non-interest bearing loan extended by the Company to the ▇▇▇▇▇ Towers Holdings Limited Employee Benefit Trust, which is due in the principal amount of about USD 5.34 million on the date hereof;

EBT Loan means the non-interest bearing loan extended by the Company to the Eaton Towers Holdings Limited Employee Benefit Trust, which is due in the principal amount of about USD 5.34 million on the date hereof;

Examples of EBT Loan in a sentence

• For the avoidance of doubt, any amount of the Total Consideration paid to the Sellers’ Solicitors’ Account pursuant to clause 9 and 17 shall be deemed to have been “received” by the relevant Seller, for the avoidance of doubt this does not include the EBT Loan and the Employee Loan Repayment Amount.

• The parties agree that such deduction shall constitute full and valid discharge of the Trustee Seller’s obligations to repay the EBT Loan and the Trustee Seller shall not be concerned with the basis upon which any such deduction shall be paid to the Company by the Buyer or be answerable for the loss or misapplication thereof.

• The Company (on its own behalf and as agent for Accantia Group Holdings Limited) acknowledges and agrees that the directions set out in this clause and the receipt of such amounts from the Buyer shall fully and finally discharge the obligations of the EBT in relation to the EBT Loan.

More Definitions of EBT Loan

EBT Loan means the amount which is outstanding as at the Completion Date under the loan facility provided by the Company (as lender) to the EBT Trustee (as borrower) under the terms of a letter dated 8 February 2023;

EBT Loan means the loan paid by the Company to ▇▇▇▇▇▇▇ Trust (Jersey) Limited (as trustee of the Streetcar Employee Benefit Trust) (“▇▇▇▇▇▇▇”), in respect of the purchase by ▇▇▇▇▇▇▇ of certain shares from ▇▇▇ ▇▇▇▇▇▇▇▇, to the extent such loan has not been repaid by ▇▇▇▇▇▇▇ to the Company;

EBT Loan means the loan of £2,487,255.50 plus accrued interest made to the EBT on various dates beginning on or about 19 December 2006 by Accantia Group Holdings Limited;

EBT Loan means any amount owed to any Target Group Company by the Trustee Seller as at the Completion Date.