Common use of No Funding Clause in Contracts

No Funding. The Employer shall be under no obligation whatsoever to purchase or maintain any contract, policy, arrangement or other asset to provide the benefits under this Agreement. Further, any contract, policy, arrangement, or other asset which the Employer may utilize to assure itself of the funds to provide the benefits

No Funding. The Employer shall be under no obligation whatsoever to purchase or maintain any contract, policy, arrangement or other asset to provide the benefits under this Agreement. Further, any contract, policy, arrangement, or other asset which the Employer may utilize to assure itself of the funds to provide the benefitsbenefits required hereunder shall not serve in any way as security to the Employee for the Employer's performance under this Agreement. The rights accruing to the Employee hereunder shall be solely those of an unsecured creditor of the Employer.