Common use of General Creditor Status Clause in Contracts

General Creditor Status. The payment to which Executive may become entitled hereunder will be paid, when due, from the general assets of the Company, and no trust fund, escrow arrangement or other segregated account will be established as a funding vehicle for such payment. Accordingly, Executive’s right (or the right of the personal representatives or beneficiaries of Executive’s estate) to receive any payment hereunder will at all times be that of a general creditor of the Company and will have no priority over the claims of other general creditors.

General Creditor Status. The payment All cash payments to which Executive may become entitled hereunder will be paid, when due, from the general assets of the Company, and no trust fund, escrow arrangement or other segregated account will be established as a funding vehicle for such payment. Accordingly, Executive’s right (or the right of the personal representatives or beneficiaries of Executive’s estate) to receive any payment such cash payments hereunder will at all times be that of a general creditor of the Company and will have no priority over the claims of other general creditors.

General Creditor Status. The payment All cash payments to which Executive may become entitled hereunder will be paid, when due, from the general assets of the Company, and no trust fund, escrow arrangement arrangement, or other segregated account will be established as a funding vehicle for such payment. Accordingly, Executive’s right (or the right of the personal representatives or beneficiaries of Executive’s estate) to receive any payment such cash payments hereunder will at all times be that of a general creditor of the Company and will have no priority over the claims of other general creditors.

General Creditor Status. The payment payments and benefits to which Executive may become becomes entitled hereunder will be paid, when due, from the general assets of the Company, and no trust fund, escrow arrangement or other segregated account will be established as a funding vehicle for such payment. Accordingly, Executive’s 's right (or the right of the personal representatives or beneficiaries of Executive’s 's estate) to receive any payment payments or benefits hereunder will at all times be that of a general creditor of the Company and will have no priority over the claims of other general creditors.