Common use of Director’s Rights Unsecured Clause in Contracts

Director’s Rights Unsecured. The right of the Director or his or her beneficiary to receive a distribution hereunder shall be an unsecured claim against the general assets of the Company, and neither the Director nor his or her beneficiary shall have any rights in or against any amounts credited to the Director’s Share Unit Account, Cash Account or any other specific assets of the Company. All amounts credited to the Director’s Share Unit Account or Cash Account shall constitute general assets of the Company and may be disposed of by the Company at such time and for such purposes as it may deem appropriate.

Director’s Rights Unsecured. The right of the Director or his or her beneficiary to receive a distribution hereunder shall be an unsecured claim against the general assets of the Company, and neither the Director nor his or her beneficiary shall have any rights in or against any amounts credited to the Director’s 's Share Unit Account, Cash Account or any other specific assets of the Company. All amounts credited to the Director’s 's Share Unit Account or Cash Account shall constitute general assets of the Company and may be disposed of by the Company at such time and for such purposes as it may deem appropriate.

Director’s Rights Unsecured. The right of the Director or his or her the beneficiary to receive a distribution hereunder shall be an unsecured claim against the general assets of the Company, and neither the Director nor his or her the beneficiary shall have any rights in or against any amounts amount credited to the Director’s Share Unit Account, Cash Account or any other specific assets of the Company. All amounts credited to the Director’s Share Unit Account or Cash Account shall constitute general assets of the Company and may be disposed of by the Company at such time and for such purposes as it may deem appropriate.