Common use of Source Clause in Contracts

Source. All payments provided under this Agreement shall be paid in cash from the general funds of Commerce; no special or separate fund shall be required to be established by Commerce; and Employee shall have no right, title or interest whatsoever in or to any investment that Commerce may make to aid Commerce in meeting any obligations under this Agreement except to the extent that 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 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 Commerce and Employee or any other Person.

Source. All payments provided under this Agreement shall be paid in cash from the general funds of Commerce; no . (a) No special or separate fund shall be required to be established by Commerce; and Employee Executive shall have no right, title or interest whatsoever in or to any investment that which Commerce may make to aid Commerce in meeting any its obligations under this Agreement hereunder except to the extent that 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. . (b) 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 Commerce and Employee Executive or any other Person.

Source. All payments provided under this Agreement shall be paid in cash from the general funds of Commerce; no . (a) No special or separate fund shall be required to be established by Commerce; and Employee Hill shall have no right, title or interest whatsoever in or to any investment that which Commerce may make to aid Commerce in meeting any its obligations under this Agreement here, except to the extent that 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. . (b) Nothing in this Agreement, and no action taken pursuant to its provisionsit, shall create or be construed to create a trust of any kind or fiduciary relationship between Commerce and Employee Hill or any other Person.