Employee Loan. The Seller, as lender, has granted to a certain Seller’s Employee, as borrower, an interest-free loan with a principal amount of EUR 2,500.00 (in words: Euro two thousand five hundred) under a certain employment loan agreement dated 23 February 2017 (the “Employee Loan”). The Seller shall be entitled to transfer the Employee Loan to EMP prior to or on the Closing Date free of any costs, charges and expenses for the Seller. Such transfer shall be subject to the employee’s employment relationship being continued with or validly transferred to an EMP Group Company, respectively, in the course of the transactions contemplated by this Agreement. If and to the extent such Employee Loan cannot validly be transferred until Closing, the Parties shall treat each other as between the Parties (im Innenverhältnis) as if the Employee Loan had been validly transferred and the Parties shall further cooperate to effectuate such transfer free of any costs, charges and expenses for the Seller as soon as possible.
Employee Loan. 3A—187 3A—187 . Employees Loan Clauses ............... 3A—189 2. Specific Assignment of Lease and Non- Disturbance Agreement ......................... 3A—191 . Specific Assignment of Lease and Postponement .............................. 3A—193 . Reassignment of Lease.................. 3A—199 3. Assignment of Multiple Leases and Rent................................................... 3A—203 . Assignment of Rents and leases...... 3A—205 4. Tenant’s Acknowledgment..................... 3A—211 ANNOTATED BUSINESS AGREEMENTS
Employee Loan. On or before three months from the date of this Agreement, and contemporaneous with the sale by the Company of the Restricted Stock, the Company shall loan the Employee the sum of $200,000 (the "Employee Loan"). The Employee Loan will not bear any interest. The Employee Loan shall be due upon the expiration of three years from the date of the making of the Employee Loan and shall be secured solely by the Restricted Stock and shall otherwise be non-recourse to the Employee. The Employee shall execute any documents requested by the Company in order for the Company to perfect a security interest in the Restricted Stock, including, but not limited to, granting the Company physical possession of the certificate evidencing the Restricted Stock and full power of attorney to dispose, transfer, sell or assign the Restricted Stock after the expiration of the Three Year Restriction Period. The Employee shall execute any documents requested by the Company in connection with the Employee Loan and the Company, acting in its sole discretion, shall be authorized to determine the date and manner to effect the sale of the Restricted Stock to repay the Employee Loan after the expiration of the Three Year Restriction Period.
Employee Loan. Prior to the Closing, the Selling Shareholder shall purchase or cause an affiliate to purchase from the Company the employee loan in an initial amount of FRF 200,000 referred to in List 7 (Tekelec Europe) for cash in an amount equal to the outstanding principal amount thereof.
Employee Loan. The Company shall provide a full recourse loan to McGlashan for the purchase of a principal residence in an amount not xx xxxxxd $4 Million (the "Loan"). The Loan will be funded upon, or just prior to, the close of escrow on the purchase of such principal residence so long as McGlashan has not voluntarily resigned or been terminated by the Comxxxx xxx cause as defined in Section 12.3
Employee Loan. Your W-2s for 2004 and 2005 will continue to reflect Other Compensation for the interest expense and related tax gross up, calculated in accordance with past practice, as more fully disclosed in Xx. Xxxxxx’x memorandum to you dated December 19, 2003, a copy of which is attached. In accordance with Xx. Xxxxxx’x memorandum, the loan balance will be forgiven as of the termination of your employment on of March 31, 2005 and will be reflected as income on your W-2 for 2005.
Employee Loan. The Employer shall loan the Employee the principal amount of $25,000, bearing interest at the most favorable commercial borrowing rate of the Employer from financial institutions and payable within one year from the date of the loan, evidenced by the promissory note of Employee payable to the order of the Employer providing for payment of attorneys' fees and other costs of collection and such other terms as the Employer shall reasonably require.
Employee Loan. Upon the execution of this Agreement by Employee, TCPI shall make a loan to Employee ("Employee Loan"), pursuant to a Negotiable Promissory Note in form and substance acceptable to the parties hereto, under the following terms and conditions:
Employee Loan. You agree that you owe Sangamo the outstanding balance of your loan with the Company, currently standing at $16,878. This amount will be deducted from the Initial Severance Payment, in satisfaction of your obligation under the loan.
