General Creditor. The Executive shall be regarded as a general creditor of First Charter with respect to any rights derived by the Executive from the existence of this Supplemental Agreement or the existence or amount of the liability. Title to and beneficial ownership of any assets, whether cash, investments, life insurance policies, or other assets that First Charter may intend to use as a source of payment, shall at all times remain with First Charter. The Executive and his Beneficiary shall not have any property interest whatsoever in any specific assets of First Charter.
General Creditor. Any and all amounts payable hereunder to Executive shall be made from assets which shall continue, for all purposes, to be part of the general, unrestricted assets of the Company; no person shall have nor acquire any interest in any such asset by virtue of the provisions of this Agreement. The Company’s obligation hereunder shall be an unfunded and unsecured promise to pay money in the future. To the extent that Executive or any person acquires a right to receive payments from the Company under the provisions hereof, such right shall be no greater than the right of any unsecured general creditor of the Company; no such person shall have nor acquire any legal or equitable right, interest or claim in or to any property or assets of the Company.
General Creditor. All payments required hereunder shall be made from Bank’s general assets, and Employee shall have no rights greater than the rights of a general creditor of Bank.
General Creditor. Nothing contained in this Agreement and no action taken pursuant to its provisions by the Company or any person, shall create, nor be construed to create, a trust of any kind or a fiduciary relationship between the Company and the Executive or any other person. The payments to the Executive hereunder shall be made from assets which shall continue, for all purposes, to be a part of the general, unrestricted assets of the Company. No person shall have nor acquire any interest in any such assets by virtue of the provisions of this Agreement. The Company's obligation hereunder shall be an unfunded and unsecured promise to pay money in the future. To the extent that the Executive acquires a right to receive payments from the Company under the provisions hereof, such right shall be no greater than the right of any unsecured general creditor of the Company.
General Creditor. Nothing contained in this Agreement and no action taken pursuant to the provisions of this Agreement shall create or be construed to create a trust of any kind or a fiduciary relationship between Employer and Employee or any other Person, nor shall any money or property of Employer be segregated for the benefit of Employee to satisfy the obligations of Employer hereunder. To the extent that Employee acquires a right to receive payments hereunder, such rights shall be no greater than the right of any general unsecured creditor of Employer. Except as expressly provided herein, each payment shall be made in cash from the general assets of Employer.
General Creditor. All payments required hereunder shall be made from the Company's general assets and Employee shall have no rights greater than the rights of a general creditor of the Company.
General Creditor. Nothing contained in this Agreement and no action taken pursuant to the provisions of this Agreement shall create or be construed to create a trust relationship between Avalon and the Consultant or any other person, nor shall any money or property of Avalon or NCCI be segregated for the benefit of the Consultant to satisfy the obligations of Avalon or NCCI hereunder.
General Creditor. Nothing contained herein shall create or require the Trust to create a trust of any kind to fund any benefits which may be payable hereunder, and to the extent that Executive acquires a right to receive benefits from the Trust hereunder, such right shall be no greater than the right of any unsecured general creditor of the Trust.
General Creditor. All payments due under this Agreement shall be paid from the general assets of the Company and no separate fund shall be established to secure payment of these amounts. The amounts payable under this Agreement shall be entries in the Company’s books and records only. All amounts payable under this Agreement shall remain available to and subject to the claims of the Company’s creditors until actually paid to you.
General Creditor. The Employee shall be regarded as a general creditor of the Employer with respect to any rights derived by the Employee from the existence of this Agreement or the existence or amount of the liability. ASSETS. Title to and beneficial ownership of any assets, whether cash, investments, life insurance policies, or other assets that the Employer may intend to use to pay the contingent deferred compensation hereunder, shall at all times remain with the Employer. The Employee and his Beneficiary shall not have any property interest whatsoever in any specific assets of the Employer. Article VII
