Common use of Source of Payment and Timing Clause in Contracts

Source of Payment and Timing. All payments provided under this Agreement shall be paid in cash from the general funds of the Company, no special or separate fund shall be required to be established and Employee shall have no right, title or interest whatsoever in or to any investment which the Company may make to aid the Company in meeting its obligations hereunder except to the extent that the Company shall, in its sole and absolute discretion, choose to designate any of its rights it may have under one or more life insurance policies it may obtain to cover any of its obligations under this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or fiduciary relationship between the Company and Employee or any other Person.

Source of Payment and Timing. 12.1 All payments provided under this Agreement shall be paid in cash from the general funds of the CompanyCommerce, no special or separate fund shall be required to be established and Employee Executive shall have no right, title or interest whatsoever in or to any investment which the Company Commerce may make to aid the Company Commerce in meeting its obligations hereunder except to the extent that the Company Commerce shall, in its sole and absolute discretion, choose to designate any of its rights it may have under one or more life insurance policies it may obtain to cover any of its obligations under this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or fiduciary relationship between the Company Commerce and Employee Executive or any other Person.

Source of Payment and Timing. 12.1 All payments provided under this Agreement shall be paid in cash from the general funds of the CompanyCommerce, no special or separate fund shall be required to be established and Employee shall have no right, title or interest whatsoever in or to any investment which the Company Commerce may make to aid the Company Commerce in meeting its obligations hereunder except to the extent that the Company Commerce shall, in its sole and absolute discretion, choose to designate any of its rights it may have under one or more life insurance policies it may obtain to cover any of its obligations under this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or fiduciary relationship between the Company Commerce and Employee or any other Person.

Source of Payment and Timing. 12.1 All payments provided under this Agreement shall be be. paid in cash from the general funds of the CompanyCommerce, no special or separate fund shall be required to be established and Employee shall have no right, title or interest whatsoever in or to any investment which the Company Commerce may make to aid the Company Commerce in meeting its obligations hereunder except to the extent that the Company Commerce shall, in its sole and absolute discretion, choose to designate any of its rights it may have under one or more life insurance policies it may obtain to cover any of its obligations under this Agreement. Nothing contained in this Agreement, and no action taken pursuant to its provisions, shall create or be construed to create a trust of any kind or fiduciary relationship between the Company Commerce and Employee or any other Person.