Common use of Rights Unsecured Clause in Contracts

Rights Unsecured. The Recipient shall have only II-VI’s unfunded, unsecured promise to pay pursuant to the terms of this Agreement. The rights of the Recipient hereunder shall be that of a general unsecured creditor of the Company, and the Recipient shall not have any security interest in any assets of the Company.

Rights Unsecured. The Recipient shall have only II-VIthe Company’s unfunded, unsecured promise to pay pursuant to the terms of this Agreementpay. The rights of the Recipient hereunder shall be that of a an unsecured general unsecured creditor of the Company, and the Recipient shall not have any security interest in any assets of the Company.