Common use of General Assets Clause in Contracts

General Assets. All payments to Executive provided for under this Agreement shall be paid in cash from the Company and no special or separate funds shall be established and no segregation of assets shall be made to assure payment. To the extent that any Person acquires a right to receive payments from the Company hereunder, such right shall be no greater than the right of an unsecured creditor of the Company.

Appears in 10 contracts

Sources: Employment Agreement (Seitel Inc), Employment Agreement (Seitel Inc), Employment Agreement (Seitel Inc)

General Assets. All payments to Executive provided for under this Agreement shall be paid in cash from the Company and no special or separate funds shall be established and no segregation of assets shall be made to assure payment. To the extent that any Person person acquires a right to receive payments from the Company hereunder, such right shall be no greater than the right of an unsecured creditor of the Company.

Appears in 7 contracts

Sources: Employment Agreement (Seitel Inc), Employment Agreement (Seitel Inc), Employment Agreement (Seitel Inc)