Common use of Source of Payment Clause in Contracts

Source of Payment. All payments provided under this Agreement shall be paid in cash from the general funds of the Company and no special or separate fund shall be required to be established. Executive shall have no right, title or interest whatever in or to any investment which the Company may make to aid the Company in meeting its obligations hereunder. 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 a fiduciary relationship between the Company and Executive or any other person.

Appears in 10 contracts

Samples: Senior Executive Agreement (Hanover Foods Corp /Pa/), Senior Executive Agreement (Hanover Foods Corp /Pa/), Senior Executive Agreement (Hanover Foods Corp /Pa/)

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Source of Payment. All payments provided for under this Agreement shall be paid in cash from the general funds of the Company. The Company and no shall not be required to establish a special or separate fund or other segregation of assets to assure such payments, and, if the Company shall be required make any investments to be established. aid it in meeting its obligations hereunder, the Executive shall have no right, title or interest whatever in or to any investment which the Company such investments except as may make to aid the Company otherwise be expressly provided in meeting its obligations hereunder. 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 a fiduciary relationship between the Company and Executive or any other person.separate written instrument

Appears in 1 contract

Samples: Employment Agreement (Vestcom International Inc)

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