Common use of RESTRICTIONS UPON FUNDING Clause in Contracts

RESTRICTIONS UPON FUNDING. Association shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The Director, his Beneficiaries or any successor in interest to him shall be and remain simply a general creditor of the Association in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Association reserves the absolute right at its sole discretion to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, and method of such informal funding. Should the Association elect to fund this Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Association reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall Director be deemed to have any lien, nor right, title or interest in or to any specific funding investment or to any assets of the Association. If the Association elects to invest in a life insurance, disability or annuity policy upon the life of the Director, then Director shall assist the Association by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. Association Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The DirectorExecutive, his Beneficiaries or any successor in interest to him shall be and remain simply a general creditor of the Association Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Association Bank reserves the absolute right right, at its sole discretion discretion, to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, and method of such informal funding. Should the Association Bank elect to fund this Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Association Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall Director Executive be deemed to have any lien, lien nor right, title or interest in or to any specific funding investment or to any assets of the AssociationBank. If the Association Bank elects to invest in a life insurance, disability or annuity policy upon the life of the DirectorExecutive, then Director Executive shall assist the Association Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. Association The Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The DirectorDirectors, his Beneficiaries their beneficiaries, or any successor in interest to him shall be and remain simply a general creditor of the Association Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Association Bank reserves the absolute right right, at its sole discretion discretion, to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, nature and method of such informal funding. Should the Association Bank elect to fund this Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Association Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall any Director be deemed to have any lien, lien nor right, title or interest in or to any specific funding investment or to any assets of the AssociationBank. If the Association Bank elects to invest in a life insurance, disability or annuity policy upon the life of the Director, then the Director shall assist the Association Bank by freely submitting to a physical examination exam and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. Association shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The Director, his Beneficiaries or any successor in interest to him shall be and remain simply a general creditor of the Association in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Association reserves the absolute right at its sole discretion to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, and method of such informal funding. Should the Association elect to fund this Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Association reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall Director be deemed to have any lien, nor right, title or interest in or to any specific funding investment or to any assets of the Association. If the Association elects to invest in a life insurance, disability or annuity policy upon the life of the Director, then Director shall assist the Association by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.. SECTION X

RESTRICTIONS UPON FUNDING. Association The Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The DirectorDirectors, his Beneficiaries their beneficiaries or any successor in interest to him shall be and remain simply a general creditor of the Association Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Association Bank reserves the absolute right right, at its sole discretion discretion, to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, nature and method of such informal funding. Should the Association Bank elect to fund this Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Association Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall any Director be deemed to have any lien, lien nor right, title or interest in or to any specific funding investment or to any assets of the AssociationBank. If the Association Bank elects to invest in a life insurance, disability or annuity policy upon the life of the Director, then the Director shall assist the Association Bank by freely submitting to a physical examination exam and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. Association Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The Director, his Beneficiaries or any successor in interest to him shall be and remain simply a general creditor of the Association Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Association Bank reserves the absolute right at its sole discretion to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, and method of such informal funding. Should the Association Bank elect to fund this Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Association Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall Director be deemed to have any lien, nor right, title or interest in or to any specific funding investment or to any assets of the AssociationBank. If the Association Bank elects to invest in a life insurance, disability or annuity policy upon the life of the Director, then Director shall assist the Association Bank by freely submitting to a physical examination and supplying such additional information necessary to obtain such insurance or annuities.

RESTRICTIONS UPON FUNDING. Association The Bank shall have no obligation to set aside, earmark or entrust any fund or money with which to pay its obligations under this Agreement. The DirectorOfficer, his Beneficiaries beneficiary(ies) or any successor in interest to him shall be and remain simply a general creditor of the Association Bank in the same manner as any other creditor having a general claim for matured and unpaid compensation. The Association Bank reserves the absolute right at its sole discretion to either fund the obligations undertaken by this Agreement or to refrain from funding the same and to determine the extent, nature, exact nature and method of such informal funding. Should the Association Bank elect to fund this Agreement, in whole or in part, through the purchase of life insurance, mutual funds, disability policies or annuities, the Association Bank reserves the absolute right, in its sole discretion, to terminate such funding at any time, in whole or in part. At no time shall Director the Officer be deemed to have any lien, nor lien or right, title or interest in or to any specific funding investment or to any assets of the AssociationBank. If the Association Bank elects to invest in a life insurance, disability or annuity policy upon the life of the DirectorOfficer, then Director the Officer shall assist the Association Bank by freely submitting to a physical examination exam and supplying such additional information necessary to obtain such insurance or annuities.