Common use of Unsecured General Creditor Clause in Contracts

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 Executive and the Executive's Designated Beneficiary shall have no legal or equitable rights, interest interests, or claims in or to any property or assets of the Corporation. No assets of the 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 fulfillment of the obligations of the Corporation under this Plan. All of the Corporation's assets shall be be, and remain remain, the general general, unpledged, unrestricted assets of the Corporation. The Corporation's obligation under this Agreement Plan shall be that of an unfunded and unsecured promise by the Corporation to pay money in the future. The Executive Executives and his Designated Beneficiary their Beneficiaries shall be unsecured general creditors with respect to any benefits hereunder.

Unsecured General Creditor. The Executive and the Executive's Designated Beneficiary Beneficiaries, successors and assigns shall have no legal or equitable rights, interest interests or claims in or to any property or assets of the CorporationCompany. All Any and all of the CorporationCompany's assets shall be be, and remain remain, the general unpledgedgeneral, unpledged unrestricted assets of the CorporationCompany. The CorporationCompany's obligation under this the Agreement shall be merely 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.8.2

Unsecured General Creditor. The Executive and the Executive's ’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 ’s assets shall be and remain the general unpledged, unrestricted assets of the Corporation. The Corporation's ’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 Executive and the Executive's Designated Beneficiary his Beneficiary, heirs, successors, and assigns shall have no legal or equitable rights, interest interest, or claims in or to any property or assets of Corporation, nor shall they be Beneficiaries of, or have any rights, claims, or interests in the Corporation’s interest in the Policy as determined pursuant to the terms of the Contract. All Any and all of the Corporation's assets ’s assets, including its interest in the Policy, shall be be, and remain remain, the general general, unpledged, unrestricted assets of the Corporation. The Corporation's obligation ’s obligations under this Agreement shall be merely that of an unfunded and unsecured promise by the of Corporation to pay money in the future. The Executive and his Designated Beneficiary shall be unsecured creditors with respect to any benefits hereunder.