Common use of General Creditor Status Clause in Contracts

General Creditor Status. The payment to which Employee 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, Employee’s right (or the right of the personal representatives or beneficiaries of Employee’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 payments and benefits to which Employee 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, Employee’s your right (or the right of the personal representatives or beneficiaries of Employee’s your 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.

General Creditor Status. The payment to which Employee 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, Employee’s right (or the right of the personal representatives executors or beneficiaries administrators of Employee’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.