Common use of No Trust Clause in Contracts

No Trust. No obligation of the Company under this Agreement shall be construed as creating a trust, escrow or other secured or segregated fund, in favor of Executive or his beneficiary. The status of Executive and Executive’s beneficiary with respect to any liabilities assumed by the Company hereunder shall be solely those of unsecured creditors of the Company. Any asset acquired or held by the Company in connection with liabilities assumed by it hereunder shall not be deemed to be held under any trust, escrow or other secured or segregated fund for the benefit of Executive or Executive’s beneficiary or to be security for the performance of the obligations of the Company, but shall be, and remain a general, unhypothecated, unrestricted asset of the Company at all times subject to the claims of general creditors of the Company.

No Trust. No obligation of the Company action under this Agreement by the Company or its Board of Directors shall be construed as creating a trust, escrow or other secured or segregated fund, in favor of the Executive or his beneficiary. The status of the Executive and Executive’s his beneficiary with respect to any liabilities assumed by the Company hereunder shall be solely those of unsecured creditors of the Company. Any asset acquired or held by the Company in connection with liabilities assumed by it hereunder hereunder, shall not be deemed to be held under any trust, escrow or other secured or segregated fund for the benefit of the Executive or Executive’s his beneficiary or to be security for the performance of the obligations of the Company, but shall be, and remain a general, unhypothecatedunpledged, unrestricted asset of the Company at all times subject to the claims of general creditors of the Company.

No Trust. No obligation of the Company under this Agreement shall be construed as creating a trust, escrow or other secured or segregated fund, in favor of the Executive or his beneficiary. The status of the Executive and Executive’s his beneficiary with respect to any liabilities assumed by the Company hereunder shall be solely those of unsecured creditors of the Company. Any asset acquired or held by the Company in connection with liabilities assumed by it hereunder hereunder, shall not be deemed to be held under any trust, escrow or other secured or segregated fund for the benefit of the Executive or Executive’s his beneficiary or to be security for the performance of the obligations of the Company, but shall be, and remain a general, unhypothecatedunpledged, unrestricted asset of the Company at all times subject to the claims of general creditors of the Company.

No Trust. No obligation of the Company action under this Agreement by the Company or its Board of Directors shall be construed as creating a trust, escrow or other secured or segregated fund, in favor of Executive or his beneficiary. The status of Executive and Executive’s his beneficiary with respect to any liabilities assumed by the Company hereunder shall be solely those of unsecured creditors of the Company. Any asset acquired or held by the Company in connection with liabilities assumed by it hereunder hereunder, shall not be deemed to be held under any trust, escrow or other secured or segregated fund for the benefit of Executive or Executive’s his beneficiary or to be security for the performance of the obligations of the Company, but shall be, and remain a general, unhypothecatedunpledged, unrestricted asset of the Company at all times subject to the claims of general creditors of the Company.