Common use of Accounting Device Only Clause in Contracts

Accounting Device Only. The Phantom SAR’s Account is solely a device for measuring amounts to be paid under this Agreement. The Phantom SAR’s Account is not a trust fund of any kind. The Director is a general unsecured creditor of the Company for the payment of benefits. The benefits represent the mere Company promise to pay such benefits. The Director’s rights are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by the Director’s creditors.

Accounting Device Only. The Phantom SAR’s Account is solely a device for measuring amounts to be paid under this Agreement. The Phantom SAR’s Account is not a trust fund of any kind. The Director is a general unsecured creditor of the Company for the payment of benefits. The benefits represent the mere Company promise to pay such benefits. The Director’s 's rights are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by the Director’s 's creditors.

Accounting Device Only. The Phantom SAR’s Account is solely a device for measuring amounts to be paid under this Agreement. The Phantom SAR’s Account is not a trust fund of any kind. The Director Officer is a general unsecured creditor of the Company for the payment of benefits. The benefits represent the mere Company promise to pay such benefits. The DirectorOfficer’s rights are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by the DirectorOfficer’s creditors.

Accounting Device Only. The Phantom SAR’s Account is solely a device for measuring amounts to be paid under this Agreement. The Phantom SAR’s Account is not a trust fund of any kind. The Director Officer is a general unsecured creditor of the Company for the payment of benefits. The benefits represent the mere Company promise to pay such benefits. The Director’s Officer's rights are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by the Director’s Officer's creditors.

Accounting Device Only. The Phantom SAR’s 's Account is solely a device for measuring amounts to be paid under this Agreement. The Phantom SAR’s 's Account is not a trust fund of any kind. The Director Executive is a general unsecured creditor of the Company Bank for the payment of benefits. The benefits represent the mere Company Bank promise to pay such benefits. The Director’s Executive's rights are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment, or garnishment by the Director’s Executive's creditors.