Common use of Deliveries to Creditors of the Company Clause in Contracts

Deliveries to Creditors of the Company. It is the intent of the parties hereto that the Trust Corpus is and shall remain at all times subject to the claims of the general creditors of the Company. Accordingly, the Company shall not create a security interest in the Trust Corpus in favor of the Executives or any creditor. If the Trustee receives the notice provided for in Section 3.03 hereof, or otherwise receives actual notice that the Company is insolvent or bankrupt as defined in Section 3.03 hereof, the Trustee shall make no further distributions of the Trust Corpus to any of the Executives but shall deliver the entire amount of the Trust Corpus only as a court of competent jurisdiction, or duly appointed receiver or other person authorized to act by such a court, may direct to make the Trust Corpus available to satisfy the claims of the Company's general creditors. The Trustee shall resume distribution of the Trust Corpus to the Executives under the terms hereof, upon no less than thirty (30) days advance notice to the Company, if it determines that the Company was not, or is no longer, bankrupt or insolvent. The Trustee may rely on such evidence concerning the status or solvency of the Company as may be furnished to the Trustee as will give the Trustee a reasonable basis for making such determination.

Deliveries to Creditors of the Company. It is the intent of the parties hereto that the Trust Corpus is and shall remain at all times subject to the claims of the general creditors of the Company. Accordingly, the Company shall not create a security interest in the Trust Corpus in favor of the Executives or any creditor. If the Trustee receives the notice provided for in Section 3.03 5.04 hereof, or otherwise receives actual notice that the Company is insolvent or bankrupt as defined in Section 3.03 5.04 hereof, the Trustee shall will make no further distributions of the Trust Corpus to any of the Executives but shall will deliver the entire amount of the Trust Corpus only as a court of competent jurisdiction, or duly appointed receiver or other person authorized to act by such a court, may direct direct, to make the Trust Corpus available to satisfy the claims of the Company's general creditors. The Trustee shall resume distribution of the Trust Corpus to the Executives under the terms hereof, upon no less than thirty (30) days advance notice to the Company, if it determines that the Company was not, or is no longer, bankrupt or insolvent. The Trustee may rely on such evidence concerning the status or solvency of the Company as may be furnished to the Trustee as will give the Trustee a reasonable basis for making such determination.

Deliveries to Creditors of the Company. It is the intent of the parties hereto that the Trust Corpus is and shall remain at all times subject to the claims of the general creditors of the Company. Accordingly, the Company shall not create a security interest in the Trust Corpus in favor of the Executives or any creditor. If the Trustee receives the notice provided for in Section 3.03 5.04 hereof, or otherwise receives actual notice that the Company is insolvent or bankrupt as defined in Section 3.03 5.04 hereof, the Trustee shall will make no further distributions of the Trust Corpus to any of the Executives but shall will deliver the entire amount of the Trust Corpus only as a court of competent jurisdiction, or duly appointed receiver or other person authorized to act by such a court, may direct direct, to make the Trust Corpus available to -12- satisfy the claims of the Company's general creditors. The Trustee shall resume distribution of the Trust Corpus to the Executives under the terms hereof, upon no less than thirty (30) days advance notice to the Company, if it determines that the Company was not, or is no longer, bankrupt or insolvent. The Trustee may rely on such evidence concerning the status or solvency of the Company as may be furnished to the Trustee as will give the Trustee a reasonable basis for making such determination.