Unsecured Obligation. This Award is unfunded, and even as to any RSUs which vest, Participant shall be considered an unsecured creditor of the Company with respect to the Company’s obligations, if any, to issue Shares pursuant to this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between Participant and the Company or any other person.
Appears in 21 contracts
Samples: Restricted Stock Unit Award Agreement (NMI Holdings, Inc.), Restricted Stock Unit Award Agreement (NMI Holdings, Inc.), Restricted Stock Unit Award Agreement (NMI Holdings, Inc.)
Unsecured Obligation. This Award is unfunded, and even as to any RSUs which that vest, the Participant shall be considered an unsecured creditor of the Company with respect to the Company’s obligations, if any, to issue Shares pursuant to this Award Agreement. Nothing contained in this Award Agreement, and no action taken pursuant to its provisionsterms or conditions, shall create or be construed to create a trust of any kind or a fiduciary relationship between the Participant and the Company or any other person.
Appears in 2 contracts
Samples: Restricted Stock Unit Award Agreement (Santander Consumer USA Holdings Inc.), Restricted Stock Unit Award Agreement (Santander Consumer USA Holdings Inc.)
Unsecured Obligation. This Award is unfunded, and even as to any RSUs which vestVested Options, Participant shall be considered an unsecured creditor of the Company with respect to the Company’s obligations, if any, to issue Shares pursuant to this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between Participant and the Company or any other person.
Appears in 2 contracts
Samples: Nonqualified Stock Option Agreement (NMI Holdings, Inc.), Nonqualified Stock Option Agreement (NMI Holdings, Inc.)
Unsecured Obligation. This Award is unfunded, and even as to any RSUs which vest, Participant shall be considered an unsecured creditor of the Company with respect to the Company’s EXHIBIT 10.21 obligations, if any, to issue Shares pursuant to this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between Participant and the Company or any other person.
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (NMI Holdings, Inc.)
Unsecured Obligation. This Award is unfunded, and even as to any RSUs which vesta holder of vested RSUs, Participant shall the Recipient will be considered an unsecured creditor of the Company with respect to the Company’s obligationsobligation, if any, to issue Shares shares of Common Stock or other property pursuant to this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or a fiduciary relationship between Participant and the Company or any other person.
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Netscout Systems Inc)
Unsecured Obligation. This Award is unfunded, and even as to any RSUs which vestthat become earned and payable, the Participant shall be considered an unsecured creditor of the Company with respect to the Company’s obligations, if any, to issue Shares pursuant to this Award Agreement. Nothing contained in this Award Agreement, and no action taken pursuant to its provisionsterms or conditions, shall create or be construed to create a trust of any kind or a fiduciary relationship between the Participant and the Company or any other person.
Appears in 1 contract
Samples: Restricted Stock Unit Award Agreement (Santander Consumer USA Holdings Inc.)
