JESTA definition
Examples of JESTA in a sentence
The parties hereto also agree that the provisions of Article 2 (particularly Paragraphs (C)(2) and (D) thereof) of the Articles of Incorporation include a viable Class B Common Stock employee ownership program designed to encourage the continuation of the employee ownership culture of JCI at New Journal and that no "new generation Journal employees stock trust" will be established to replace JESTA.
For their part, subject to the terms and conditions hereof, the Family Shareholders are agreeing contribute to New Journal (i) their shares of JCI and (ii) their rights under JESTA, including, in particular, their option rights under Sections 21 and 24 thereof, all simultaneously with JESTA's contribution of its shares of JCI, as set forth in Section 3.1(b) and Section 3.1(c) below.
The Loans hereunder may be used for working capital and other general corporate purposes not prohibited by this Credit Agreement, but expressly including (subject to the restrictions contained in Sections 8.4, 8.5 and 8.10) the purchase of some or all of the equity or assets of other business, the issuance of Dividends and the purchase or redemption of JESTA Units or the advancement of funds therefore to JESTA.
Such agreement will become the Share Exchange on the effective date and at the effective time set forth in the articles of share exchange to be filed with the agreement and plan of share exchange with the Corporation Division of the Wisconsin Department of Financial Institutions, which effective date and time will be immediately preceding the declaration of the Special Dividend, the Family Exchange, the Termination of JESTA and the consummation of the IPO.
By this Agreement, the Family Shareholders are agreeing to join with JESTA in the creation of New Journal.
The parties hereto understand and agree that, unless the IPO is consummated, neither the Share Exchange nor the Termination of JESTA shall be effective.