ESOP Notes definition

ESOP Notes means the (a) Promissory Note, dated March 28, 2000 and (b) Promissory Note, dated July 21, 2003, in each case payable by the ESOT to the Company, as the same now exists and may hereafter be amended, modified, supplemented, executed, renewed, restated or replaced.
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ESOP Notes means the then outstanding 7.89% (7.82% since January 1, 1993) Guaranteed Series B ESOP Notes due October 1, 2002 and the then outstanding Guaranteed ESOP Restructuring Notes due October 1, 2003.
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ESOP Notes means the promissory notes signed by the Trustee and delivered to the Company to evidence the ESOP Loan. 1.8 "Exempt Loan Rules" shall mean the rules set forth in Section 4975(d)(3) of the Code, Section 54.4975-7(b) of the Treasury Department Regulations, Section 408(b)(3) of ERISA, and Section 2550.408b-3 of the Department of Labor Regulations. 1.9 "Plan" shall mean the CoVest Bancshares, Inc. Employee Stock Ownership Plan. 1.10 "Shares" shall mean the Eighty-One Thousand Four Hundred and Seventy- Seven (81,477) shares of common stock of the Company purchased by the Trustee with the proceeds of the ESOP Loan. 1.11 "Stock Pledge Agreement" shall mean the agreement between the Trustee and the Company, dated February 22, 2002 pursuant to which the Trustee has agreed to pledge the Shares to the Bank to secure the obligations of the Trust under this Agreement. 1.12 "Trust" shall mean the CoVest Bancshares, Inc. Employee Stock Ownership Plan Trust which has been established by the Company to implement the Plan. 1.13 "Trustee" shall mean James L. Roberts, Paul A. Larsxx xxx Xxxxxxx X. Xxxxxxx, xxx xny otxxx xxxxxx xxx xxxll be duly appointed to serve with or to succeed any of them as trustee of the Trust.
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Examples of ESOP Notes in a sentence

  • Despite that knowledge, they issued the ESOP Notes to terminating employees with no other security for payment of the Company’s obligations.

  • The Company Secures the ESOP Notes with Surety Bonds from Condor 17.

  • The Company submitted a claim to Condor Guaranty for payment of the ESOP Notes in accordance with the terms of the surety bonds.

  • Despite that knowledge, the above-named Defendants renewed Condor’s coverage for the ESOP Notes.

  • Defendants [Moran], Hoskins, Lipson-Wilson, Feliz and Bevelhymer knew or reasonably should have known at the time that the Company issued the ESOP Notes that the Condor bond did not provide adequate security for the Company’s obligations.

  • Specifically, Moran maintains that her decision to secure the ESOP Notes with Condor is protected by the business judgment rule.

  • After Hoskins resigned as Chief Financial Officer at the end of 2005, Karen Felix– the Company’s new Chief Financial Officer – and Steve Bevelhymer – the Company’s Treasurer – took over the responsibility of engaging an insurance company to issue surety bonds to secure the ESOP Notes in 2006 and 2007, and renewing the surety bonds issued to secure the ESOP Notes previously issued in 2004 and 2005.

  • The Company continued issuing ESOP Notes to departing ESOP participants in 2005, 2006 and 2007, ultimately issuing a total of four rounds of ESOP Notes from 2004 through 2007.

  • As a result of the default call by its senior lenders, Antioch found itself unable to make certain payments due on August 1, 2008 under some ESOP Notes.

  • There being no further business, the meeting was adjourned at 9:28 P.M. D.


More Definitions of ESOP Notes

ESOP Notes means the $100,000,000 in original aggregate principal amount of 9.48% Guaranteed Notes Due June 19, 2009 of The BetzDearborn Inc. Employee Stock Ownership Trust issued pursuant to the Note Purchase Agreement, dated as of June 19, 1989, as amended (including the Seventh Amendment thereto, entered into as of July 17, 2001), as the same may from time to time be amended.
Sample 1
ESOP Notes means those certain Promissory Note and Loan Agreement Stock Distribution Puts issued by the Company pursuant to Section 12(b) of the ESOP between June 2005 and October 2007 to fund repurchase obligations under the ESOP with respect to certain former employees.
Sample 1
ESOP Notes means the promissory notes issued by New Wave’s Employee Stock Ownership Trust to New Wave dated July 16, 1997, September 30, 1999, September 30, 2000 and September 30, 2002 in the principal amounts of $639,200, $893,447, $609,756 and $650,000, respectively.
Sample 1
ESOP Notes means the (a) Promissory Note, dated March 28, 2000 and (b) Promissory Note, dated July 21, 2003, in each case payable by the ESOT to the Company, as the same now exists and may hereafter be amended, modified, supplemented, executed, renewed, restated or replaced. “ESOT ” means Xxxxxx Bros. Co. Employee Stock Ownership Benefit Trust, created by the Company pursuant to the ESOT Trust Agreement to implement the ESOP, as the same now exists and may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. “ESOT Trust Agreement ” means the Xxxxxx Bros. Co. Employee Stock Ownership Trust Agreement, dated September 28, 2005, between the Company and the ESOT Trustee, as the same now exists and may hereafter be amended, modified, supplemented, extended, renewed, restated or replaced. “ESOT Trustee ” means Greatbanc Trust Company and any successors in such capacity. “EU Bail-In Legislation Schedule ” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. “Eurodollar ”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by reference to the Adjusted LIBO Rate. 21
Sample 1
ESOP Notes means the $290,194,981 original aggregate principal amount of Series C Guaranteed ESOP Notes due 2009 issued pursuant to the several Note Purchase Agreements, each dated February 22, 1990, and each as amended by Amendment No. 1 thereto dated as of July 27, 1999, among Fidelity Management Trust Company, a Massachusetts corporation, in its capacity as trustee of the Delta Family-Care Savings Plan and the trust established thereunder, as issuer, the Company, as Guarantor, and the respective purchasers named therein of which $290,194,981 in aggregate principal amount are outstanding on the Effective Date.
Sample 1

Related to ESOP Notes

  • Class E Notes has the meaning assigned to such term in the Indenture.

  • MAC Notes The Classes of Modifiable And Combinable STACR® Notes shown on

  • 2011 Notes means those certain notes issued pursuant to the Note Purchase Agreement dated as of March 22, 2011 among the Company and the purchasers named in Schedule A thereto.

  • A Notes means each Note that has a designation starting with “A”, either individually or in the aggregate as the context may require.

  • 2028 Notes has the meaning specified in the recitals of this First Supplemental Indenture.

  • 2014 Notes means (i) the 4.850% Senior Secured Notes due 2024 issued by the Issuer on March 18, 2014 and (ii) the 4.45% Senior Secured Notes due 2025 and the 5.45% Senior Secured Notes due 2034 issued by the Issuer on August 21, 2014.

  • 2016 Notes means the aggregate principal amount of US$460,000,000 of 4.25% Convertible Senior Notes Due 2016 issued pursuant to the 2016 Note Indenture.

  • Subsequent Notes means any Notes issued after the First Issue Date on one or more occasions.

  • New Notes shall have the meaning assigned to such term in Section 32.

  • Series 2019 Bonds means, collectively, the Series 2019A Bonds and the Series 2019B Bonds.

  • 2019 Notes has the meaning set forth in the definition of “2018 Exchange Offers”.

  • 2018 Notes means the Company’s 7.75% Senior Subordinated Notes due 2018 issued under the Indenture dated December 14, 2010 among the Company, Holdings and the subsidiary guarantors from time to time party thereto and The Bank of New York Mellon Trust Company, N.A., as Trustee.

  • Subordinated Notes means the Initial Notes and the Exchange Notes and, more particularly, any Subordinated Note authenticated and delivered under this Indenture, including those Subordinated Notes issued or authenticated upon transfer, replacement or exchange.

  • 2022 Notes means the 4.875% Senior Notes due 2022, originally issued by Rowan Companies, Inc., a Delaware corporation.

  • B Notes means each of Note B-1 and Note B-2.

  • Series 2017 Bonds means, collectively, the Series 2017A Bonds and the Series 2017B Bonds.

  • 2021 Notes means the 4.700% Senior Notes due 2021, originally issued by Ensco plc (now Valaris), a public limited company organized under the laws of England and Wales.

  • Trust Notes As defined in the Introductory Statement.

  • Exchange Notes means the Notes issued in the Exchange Offer pursuant to Section 2.06(f) hereof.

  • Public Notes means the Notes that have been registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction. As of the Closing Date, the Public Notes include the Class A Notes, the Class B Notes, the Class C Notes and the Class D Notes, other than any Notes held by the Depositor (or any other entity whose separate existence from the Trust is disregarded for federal income tax purposes).

  • 2024 Notes means the 7.625% unsecured notes due April 15, 2024, issued pursuant to the 2009 Notes Indenture.

  • 2015 Notes means the 8.375% senior notes due 2015 in the principal amounts of $615 million and €500 million issued pursuant to the 2015 Notes Indenture.

  • Refunded Notes means that portion of the Series 298 Notes and Series 300 Notes paid from the proceeds of the Bonds and other available funds of the Issuer.

  • 2020 Notes means the 6.875% Senior Notes due 2020, issued by Pride International LLC, a Delaware limited liability company.

  • Notes shall have the meaning assigned to such term in the recitals.

  • Original Notes means the Initial Notes and any Exchange Notes issued in exchange therefor.