Common use of Unfunded, Unsecured Obligations Clause in Contracts

Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of Holder or any other person. Holder shall have only the rights of a general, unsecured creditor of the Company with respect to the Restricted Stock Units, unless and until shares of Common Stock shall be distributed to Holder under the terms and conditions of this Agreement.

Appears in 5 contracts

Samples: Restricted Stock Unit Award Agreement (Tegal Corp /De/), Restricted Stock Unit Award Agreement (Tegal Corp /De/), Restricted Stock Unit Award Agreement (Tegal Corp /De/)

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Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement the Terms shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of Holder Participant or any other person. Holder Participant shall have only the rights of a general, unsecured creditor of the Company with respect to the Restricted Stock UnitsUnits and Dividend Equivalent Rights, unless and until shares of Common Stock shall be distributed to Holder Participant under the terms and conditions of this Agreementset forth herein.

Appears in 3 contracts

Samples: Restricted Stock Unit Award Grant Agreement (Allergan Inc), Restricted Stock Unit Grant Agreement (Allergan Inc), Restricted Stock Unit Grant Agreement (Allergan Inc)

Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of Holder Participant or any other person. Holder Participant shall have only the rights of a general, unsecured creditor of the Company with respect to the Restricted Stock Units, unless and until shares of Common Stock shall be distributed to Holder Participant under the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Chung Restricted Stock Unit Award Agreement (Conceptus Inc), Restricted Stock Unit Award Agreement (Conceptus Inc)

Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of Holder Participant or any other person. Holder Participant shall have only the rights of a general, unsecured creditor of the Company with respect to the Restricted Stock Units, unless and until shares of Common Stock shall be distributed to Holder Participant under the terms and conditions of this Agreement.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Agreement (Conceptus Inc), Restricted Stock Unit Award Agreement (Conceptus Inc)

Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement the Terms shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of Holder Participant or any other person. Holder Participant shall have only the rights of a general, unsecured creditor of the Company with respect to the Restricted Stock Units, Units and Dividend Equivalent Rights unless and until shares of Common Stock shall be distributed to Holder Participant under the terms and conditions of this Agreementset forth herein.

Appears in 2 contracts

Samples: Restricted Stock Unit Award Grant Agreement (Allergan Inc), Restricted Stock Unit Grant Agreement (Allergan Inc)

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Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of Holder or any other person. Holder shall have only the rights of a general, unsecured creditor of the Company with respect to the Restricted Stock Units, unless and until shares of Common Stock shall be distributed to Holder under the terms and conditions of this Agreement.

Appears in 1 contract

Samples: Performance Restricted Stock Unit Agreement (Filenet Corp)

Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement the Terms shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of Holder Participant or any other person. Holder Participant shall have only the rights of a general, unsecured creditor of the Company with respect to the Restricted Stock Units, unless and until shares of Common Stock shall be distributed to Holder Participant under the terms and conditions of this Agreementset forth herein.

Appears in 1 contract

Samples: Restricted Stock Unit Award Grant Agreement (Allergan Inc)

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