Common use of Limitation on Participant’s Rights Clause in Contracts

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Share Units, and rights no greater than the right to receive the Ordinary Shares as a general unsecured creditor with respect to Share Units, as and when payable hereunder.

Appears in 20 contracts

Samples: Restricted Share Unit Award Agreement (Norwegian Cruise Line Holdings Ltd.), Restricted Share Unit Award Agreement (Norwegian Cruise Line Holdings Ltd.), Restricted Share Unit Award Agreement (NCL CORP Ltd.)

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Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Share Deferred Units, and rights no greater than the right to receive the Ordinary Shares Common Units as a general unsecured creditor with respect to Share Deferred Units, as and when payable hereunder.

Appears in 5 contracts

Samples: Restricted Deferred Unit Award Agreement, Restricted Deferred Unit Award Agreement (Momentive Performance Materials Inc.), Restricted Deferred Unit Award Agreement (Momentive Specialty Chemicals Inc.)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall may not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall will have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Share UnitsRSUs and Dividend Equivalents, and rights no greater than the right to receive cash or the Ordinary Shares as a general unsecured creditor with respect to Share Unitsthe RSUs and Dividend Equivalents, as and when payable hereundersettled pursuant to the terms of this Agreement.

Appears in 4 contracts

Samples: Global Restricted Stock Unit Agreement (Kla Corp), Restricted Stock Unit Grant (Switch, Inc.), Restricted Stock Unit Agreement (Novan, Inc.)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company Corporation as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company Corporation with respect to amounts credited and benefits payable, if any, with respect to the Share Units, and rights no greater than the right to receive the Ordinary Class B Common Shares (or equivalent value) as a general unsecured creditor with respect to Share Units, as and when payable hereunder.

Appears in 3 contracts

Samples: Restricted Share Unit Award Agreement (Lions Gate Entertainment Corp /Cn/), Restricted Share Unit Award Agreement (Lions Gate Entertainment Corp /Cn/), Restricted Share Unit Award Agreement (Lions Gate Entertainment Corp /Cn/)

Limitation on Participant’s Rights. Participation in the this Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company Corporation as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company Corporation (or applicable Subsidiary Corporation) with respect to amounts credited and benefits payablepayable in cash, if any, with respect to the Share Performance Units, and rights no greater than the right to receive the Ordinary Shares Common Stock (or equivalent value) as a general unsecured creditor with respect to Share Performance Units, as and when payable hereunderthereunder.

Appears in 3 contracts

Samples: Employment Agreement (Molina Healthcare Inc), Performance Stock Unit Award Agreement (Molina Healthcare Inc), Performance Stock Unit Award Agreement (Molina Healthcare Inc)

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Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. ​ ​ Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Share Units, and rights no greater than the right to receive the Ordinary Shares as a general unsecured creditor with respect to Share Units, as and when payable hereunder.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Norwegian Cruise Line Holdings Ltd.)

Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. The Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the Restricted Share Units, and rights no greater than the right to receive the Ordinary Common Shares as a general unsecured creditor with respect to Restricted Share Units, as and when payable hereunder.

Appears in 1 contract

Samples: Restricted Share Unit Award Agreement (Establishment Labs Holdings Inc.)

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