Unsecured General Creditor. The Company shall neither reserve nor specifically set aside funds for the payment of its obligations under this Agreement, and such obligations shall be paid solely from the general assets of the Company.
Unsecured General Creditor. Neither Executive nor any other person or entity shall have any legal right or equitable rights interests or claims in or to any property or assets of the Employer under the provisions of this Agreement. No assets of the Employer shall be held under any trust for the benefit of Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Employer under this Agreement. All of the Employer’s assets shall be and remain the general, unpledged, unrestricted assets of the Employer. The Employer’s obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.
Unsecured General Creditor. The Participant has no legal or equitable rights, interests or claims in any property or assets of the Company due to the Notice, this Award Agreement and the grant of RSUs hereunder. For purposes of the payment of benefits under the Notice and this Award Agreement, the Participant has no more rights than those of a general creditor of the Company. The Company’s obligation under the Notice and this Award Agreement will be that of a conditional unfunded and unsecured promise to pay money or property in the future.
Unsecured General Creditor. The Executive's rights are limited to the right to receive payments as provided in this Agreement and the Executive's position with respect thereto is that of a general unsecured creditor of the Bank.
Unsecured General Creditor. The Executive and his beneficiary shall have no legal right or equitable rights, interests, or claims in or to any property or assets of the Bank. No assets of the Bank shall be held under any trust for the benefit of the Executive or his beneficiaries or held in any way as security for the fulfilling of the obligations of the Bank under this plan. All of the Bank’s assets shall be and remain the general, unpledged, unrestricted assets of the Bank. The Bank’s obligation under this plan shall be that of an unfunded and unsecured promise by the Bank to pay money in the future. Executives and their beneficiaries shall be unsecured general creditors with respect to any benefits hereunder.
Unsecured General Creditor. The Executive and his or her Beneficiaries, heirs, successors, and assigns shall have no legal or equitable rights, claims, or interest in any specific property or assets of the Company. No assets of the Company shall be held under any trust or held in any way as collateral security for the fulfilling of the obligations of the Company under this Agreement. Any and all of the Company’s assets shall be, and remain, the general unpledged, unrestricted assets of the Company. The Company’s obligation under this Agreement shall be merely that of an unfunded and unsecured promise of the entity to pay money in the future, and the rights of the Executive and his or her Beneficiaries shall be no greater than those of unsecured general creditors. It is the intention of the Company that this Agreement be unfunded for purposes of the Code and for purposes of Title I of the Employee Retirement Income Security Act of 1974, as amended.
Unsecured General Creditor. Neither the Executive nor anyone else claiming on behalf of or through the Executive shall have any right with respect to, or claim against, any insurance policy or other asset the Company may acquire to assist it in financing its obligations under this Agreement. The Executive shall be an unsecured general creditor of the Company with respect to any amount payable under this Agreement.
Unsecured General Creditor. The Executive and the Executive's Designated Beneficiary shall have no legal or equitable rights, interest or claims in or to any property or assets of the Corporation. All the Corporation's assets shall be and remain the general unpledged, unrestricted assets of the Corporation. The Corporation's obligation under this Agreement shall be that of an unfunded and unsecured promise by the Corporation to pay money in the future. The Executive and his Designated Beneficiary shall be unsecured creditors with respect to any benefits hereunder.
Unsecured General Creditor. The Contract Obligors shall neither reserve nor specifically set aside funds for the payment of its obligations under this Agreement, and such obligations shall be paid solely from the general assets of the Contract Obligors. Notwithstanding that Employee may be entitled to receive the value of his benefit under the terms and conditions of this Agreement, the assets from which such amount may be paid shall at all times be subject to the claims of the Contract Obligors’ creditors.
Unsecured General Creditor. The Executive and the Executive's beneficiary shall have no legal or equitable rights, interests or claims in or to any property or assets of the Employer. No assets of the Employer shall be held under any trust for the benefit of the Executive or his beneficiaries or held in any way as security for the fulfillment of the obligations of the Employer under this Agreement. All of the Employer's assets shall be and remain the general unpledged, unrestricted assets of the Employer. The Employer's obligation under this Agreement shall be that of an unfunded and unsecured promise by the Employer to pay money in the future. The Executive and its beneficiaries shall be unsecured creditors with respect to any benefits hereunder.
