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Common use of No Trust Fund Clause in Contracts

No Trust Fund. Nothing contained in this Agreement and no action taken pursuant to the provisions of this Agreement shall create or be construed to create a trust of any kind. To the extent that the President acquires a right to receive payments from the University hereunder, such rights shall be no greater than the right of any unsecured, general creditor of the University.

Appears in 2 contracts

Samples: Employment Agreement, Employment Agreement

No Trust Fund. 26.1 Nothing contained in this Agreement and no action taken pursuant to the provisions of this Agreement shall create or be construed to create a trust of any kind. To the extent that the President acquires a right to receive payments from the University hereunderUniversity, such rights shall be no greater than the right of any unsecured, general creditor of the University.

Appears in 1 contract

Samples: Employment Agreement

No Trust Fund. 24.1 Nothing contained in this Agreement and no action taken pursuant to the provisions of this Agreement shall create or be construed to create a trust of any kind. To the extent that the President acquires a right to receive payments from the University hereunderUniversity, such rights shall be no greater than the right of any unsecured, general creditor of the University.

Appears in 1 contract

Samples: President's Employment Agreement