Common use of Unfunded Arrangement Clause in Contracts

Unfunded Arrangement. The Participant and the Beneficiary are general unsecured creditors of the Bank for the distribution of benefits under this Agreement. The benefits represent the mere promise by the Bank to distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors. Any insurance on the Participant’s life or other informal funding asset is a general asset of the Bank to which the Participant and Beneficiary have no preferred or secured claim.

Unfunded Arrangement. The Participant and the Beneficiary are general unsecured creditors of the Bank Corporation for the distribution of benefits under this AgreementPlan. The benefits represent the mere promise by the Bank Corporation to distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment attachment, or garnishment by creditors. Any insurance on the Participant’s 's life or other informal funding asset is a general asset of the Bank Corporation to which the Participant and the Beneficiary have no preferred or secured claim.

Unfunded Arrangement. The Participant Employee and the Beneficiary are general unsecured creditors of the Bank for the distribution of benefits under this Agreement. The benefits represent the mere promise by the Bank to distribute such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors. Any insurance on the ParticipantEmployee’s life or other informal funding asset is a general asset of the Bank to which the Participant Employee and Beneficiary have no preferred or secured claim.

Unfunded Arrangement. The Participant and the Beneficiary beneficiary thereof are general unsecured creditors of the Bank for the distribution payment of benefits under this AgreementPlan. The benefits represent the mere promise by the Bank to distribute pay such benefits. The rights to benefits are not subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors. Any insurance on the Participant’s life or other informal funding asset is a general asset of the Bank to which the Participant and Beneficiary beneficiary have no preferred or secured claim.