General Unsecured Creditor. Holder shall have only the rights of a general unsecured creditor of the Company until shares of Stock are issued in respect of the Restricted Stock Units.
General Unsecured Creditor. Holder shall have only the rights of a general unsecured creditor of the Company until Units are issued in respect of the RSUs or cash is paid in respect of Redeemed RSU Value. No Rights as a Member or Unit holder: Neither the RSUs nor this Award Agreement shall entitle Holder to any voting rights or other rights as a member or Unit holder of the Company unless and until the Units in respect of the RSUs have been issued in settlement thereof. Notwithstanding the foregoing, the RSUs granted hereunder (unvested and vested) will accrue any dividends (whether in cash or Units) or dividend equivalents declared with respect to the Units to which the RSUs relate, which dividends or dividend equivalents shall be withheld by the Company for Holder’s account (without any interest) and be paid only with respect to any vested RSUs upon the settlement of such RSUs; provided, that dividends or dividend equivalents accrued on the RSUs granted hereunder will reflect any such dividends or dividend equivalents declared with respect to the Units to which the RSUs relate as if the RSUs were granted on the Vesting Commencement Date.
General Unsecured Creditor. An individual's right to receive benefits pursuant to this Agreement shall be that of a general unsecured creditor of Employer. Employer shall not be obligated to set aside or acquire any asset to satisfy its obligation under this Agreement. Any assets Employer may set aside or acquire to satisfy its obligations under this Agreement shall remain at all times subject to the claims of Employer's general creditors. The reference to the Annuity Contract in Paragraph 1 is a reference only to a basis to measure Employee's future benefit; neither Employee nor any beneficiary shall have any rights in the Annuity Contract or in any other asset or investment that may be acquired by Employer. This Agreement and the right to receive payments under this Agreement shall at all times be unfunded.
General Unsecured Creditor. Holder shall have only the rights of a general unsecured creditor of the Company until shares of Common Stock are issued in respect of the Restricted Stock Units. Transfer Restrictions: Holder shall not be permitted to sell, transfer, pledge, or otherwise encumber the Restricted Stock Units before they vest and are settled, and any attempt to sell, transfer, pledge, or otherwise encumber the Restricted Stock Units in violation of the foregoing shall be null and void.
General Unsecured Creditor. The Company’s obligations under this Agreement shall be merely that of an unfunded and unsecured promise to pay money in the future. As such, the Executive’s and his beneficiary(ies), heirs and successors shall have no legal or equitable rights, interests or claims in any property or assets of the Company (or its affiliates) as a result of this Agreement, and their status, individually or collectively, with respect to the Payment shall be that of a general, unsecured creditor of the Company.
General Unsecured Creditor. The Executive shall have only the rights of a general unsecured creditor of the Company until such time, if any, shares of Common Stock are issued in respect of the Performance Units.
