Common use of EXECUTIVE'S STATUS AS UNSECURED GENERAL CREDITOR Clause in Contracts

EXECUTIVE'S STATUS AS UNSECURED GENERAL CREDITOR. The payment of any benefits hereunder to the Executive or his Beneficiary shall be made from assets which shall continue, for all purposes, to be a part of the general assets of the Corporation; no person shall have or acquire any interest in such assets by virtue of the provisions of this Agreement. To the extent that the Executive or his Beneficiary acquires a right to receive payments from the Corporation under the provisions hereof, such right shall be no greater than the right of any unsecured general creditor of the Corporation.

EXECUTIVE'S STATUS AS UNSECURED GENERAL CREDITOR. The payment of any benefits hereunder to the Executive or his or her Beneficiary shall be made from assets which shall continue, for all purposes, to be a part of the general assets of the Corporation; no person shall have or acquire any interest in such assets by virtue of the provisions of this Agreement. To the extent that the Executive or his or her Beneficiary acquires a right to receive payments from the Corporation under the provisions hereof, such right shall be no greater than the right of any unsecured general creditor of the Corporation.