Common use of Status as an Unsecured General Creditor Clause in Contracts

Status as an Unsecured General Creditor. Notwithstanding anything contained herein to the contrary: (i) neither the Director, the Director's spouse or the Director's designated beneficiaries shall have any legal or equitable rights, interests or claims in or to any specific property or assets of the Bank as a result of this Agreement; (ii) none of the Bank's assets shall be held in or under any trust for the benefit of the Director, the Director's spouse or the Director's designated beneficiaries or held in any way as security for the fulfillment of the obligations of the Bank under this Agreement; (iii) all of the Bank's assets shall be and remain the general unpledged and unrestricted assets of the Bank; (iv) the Bank's obligation under this Agreement shall be that of an unfunded and unsecured promise by the Bank to pay money in the future; and

Status as an Unsecured General Creditor. Notwithstanding anything contained herein to the contraryDirector agrees that: (i) neither the Director, the Director's spouse or the Director's designated beneficiaries Director shall have any no legal or equitable rights, interests or claims in or to any specific property or assets of the Bank as a result of this Agreement; (ii) none of the Bank's ’s assets shall be held in or under any trust for the exclusive benefit of the Director, the Director's spouse or the Director's designated beneficiaries Director or held in any way as security for the fulfillment of the obligations of the Bank under this Agreement; (iii) all of the Bank's ’s assets shall be and remain the general unpledged and unrestricted assets of the Bank; (iv) the Bank's ’s obligation under this Agreement shall be that of an unfunded and unsecured promise by the Bank to pay money in the future; andand (v) the Director shall be an unsecured general creditor with respect to any benefits which may be payable under the terms of this Agreement.

Status as an Unsecured General Creditor. Notwithstanding anything contained herein to the contrary: (i) neither the Director, the Director's spouse or the Director's designated beneficiaries shall have any legal or equitable rights, interests or claims in or to any specific property or assets of the Bank as a result of this Agreement; (ii) none of the Bank's assets shall be held in or under any trust for the benefit of the Director, the Director's spouse or the Director's designated beneficiaries or held in any way as security for the fulfillment of the obligations of the Bank under this Agreement; (iii) all of the Bank's assets shall be and remain the general unpledged and unrestricted assets of the Bank; (iv) the Bank's obligation under this Agreement agreement shall be that of an unfunded and unsecured promise by the Bank to pay money in the future; and

Status as an Unsecured General Creditor. Notwithstanding anything contained herein to the contrary: (i) neither the Director, the Director's spouse or the Director's designated beneficiaries shall have any legal or equitable rights, interests or claims in or to any specific property or assets of the Bank as a result of this Agreement; (ii) none of the Bank's assets shall be held in or under any trust for the benefit of the Director, the Director's spouse or the Director's designated beneficiaries or held in any way as security for the fulfillment of the obligations of the Bank under this Agreement; (iii) all iii)all of the Bank's assets shall be and remain the general unpledged and unrestricted assets of the Bank; (iv) the Bank's obligation under this Agreement agreement shall be that of an unfunded and unsecured promise by the Bank to pay money in the future; and

Status as an Unsecured General Creditor. Notwithstanding anything contained herein to the contrary: (i) neither the Director, the Director's spouse or the Director's designated beneficiaries Executive shall have any no legal or equitable rights, interests interests, or claims in or to any specific property or assets of the Bank as a result of this Agreement; (ii) none of the Bank's ’s assets shall be held in or under any trust for the benefit of the Director, the Director's spouse or the Director's designated beneficiaries Executive or held in any way as security for the fulfillment of the obligations of the Bank under this Agreement; (iii) all of the Bank's ’s assets shall be and remain the general unpledged and unrestricted assets of the Bank; (iv) the Bank's ’s obligation under this Agreement shall be that of an unfunded and unsecured promise by the Bank Banks to pay money in the future; andand (v) the Executive shall be an unsecured general creditor with respect to any benefits which may be payable under the terms of this Agreement.