Common use of Unsecured General Creditor Clause in Contracts

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 beneficiary shall have no legal right or equitable rights, interests, or claims in or to any property or assets of the BankCorporation. No assets of the Bank Corporation 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 Corporation under this plan. All of the Bank’s Corporation's assets shall be and remain the general, unpledged, unrestricted assets of the BankCorporation. The Bank’s Corporation's obligation under this plan shall be that of an unfunded and unsecured promise by the Bank Corporation 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 beneficiary shall have no legal right or equitable rightsequitable, right, interests, or claims in or to any property or assets of the BankCorporation. No assets of the Bank Corporation 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 Corporation under this plan. All of the Bank’s Corporation's assets shall be and remain the general, unpledged, unrestricted assets of the BankCorporation. The Bank’s Corporation's obligation under this plan shall be that of an unfunded and unsecured promise by the Bank Corporation 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 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 's assets shall be and remain the general, unpledged, unrestricted assets of the Bank. The Bank’s '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 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 Corporation's assets shall be and remain the general, unpledged, unrestricted assets of the Bank. The Bank’s Corporation'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.