ESOP Note definition

ESOP Note has the meaning specified in Section 2.05(c).

ESOP Note means that certain ESOP Note, dated as of April 1, 2007, made by GreatBanc (on behalf of the ESOP Trust) in favor of Tribune in the original principal amount of$250 million, to be repaid by the ESOP Trust over the 30 year life of the loan through its use of annual contributions, either in cash or in the form of forgiveness, from Tribune to the ESOP Trust and/or distributions paid on the shares of Tribune Common Stock held by the ESOP Trust.

ESOP Note means the Promissory Note dated June 13, 2000, made by the ESOP in favor of the Marriott Asset Fund.

Examples of ESOP Note in a sentence

• Upon the Effective Date, the ESOP shall be deemed terminated in accordance with its terms, and the amount of unpaid principal and interest remaining on the ESOP Note dated April 1, 2007 shall be forgiven pursuant to section 6.3 of the ESOP Loan Agreement by and between Tribune and GreatBanc Trust Company, not in its individual or corporate capacity, but solely as trustee of the Tribune Employee Stock Ownership Trust dated April 1, 2007.

• Any contributions limited or not made in a timely fashion pursuant to the preceding sentence shall be (i) carried over and paid to the Plan as soon as is practicable in connection with contributions to the Plan and (ii) increased by an amount sufficient for the Trustee to pay any increased interest or other costs arising under the ESOP Note from the failure to make any payment thereunder when due.

• As part of the 2011 Refinancing, the ESOP simultaneously entered into an ESOP Note in favor of the Company in the amount of $7,528,380.

• In addition to the salaries and short-term benefits and director fees paid to the executive officers and directors, respectively, the Corporation also provides compensation under the Corporation‟s ESOP (Note 17) to its executive officers.

• Since the Islamic Brotherhood was formed as a non-political association, it could survive the ban.

More Definitions of ESOP Note

ESOP Note means the 4.75% promissory note of the ESOP payable to NY Medical in approximate $10,090,000 principal amount at December 31, 2002.

ESOP Note means the ESOP’s 30-year amortizing 5.01% note as in effect on the Closing Date.

ESOP Note means that certain Non-Recourse Promissory Note, dated November 20, 1996, in the amount of $1,398,600,000, issued by the MidCon ESOP Trust to the Seller.

ESOP Note means the promissory note in the original principal --------- amount of Twenty-two Million Five Hundred Thousand and no/100 Dollars ($22,500,000) dated as of the date of this Agreement, made by the ESOP and payable to the Borrower.

ESOP Note is defined in Section 5.25.

ESOP Note means the promissory note of the Trust payable to the order of the Bank in the form of Exhibit A attached to the Loan Agreement

ESOP Note means the Replacement ESOP Term Note, dated of even date herewith, by Trustees to Bank (a copy of which is attached to this Third Amendment as Exhibit A) and all replacements, substitutions, modifications, extensions, renewals, consolidations and refinancings thereof.";