Common use of SUBJECT TO CLAIMS OF CREDITORS Clause in Contracts

SUBJECT TO CLAIMS OF CREDITORS. Payments to be made to the Employee shall be made from assets which, for all purposes, shall continue to be a part of the general assets of the Company, and no person shall have, by virtue of the provisions of this Agreement, any interest in, preferred claim on or beneficial interest in any of the Company's assets. The rights of the Employee to receive payments from the Company under the provisions hereof shall be a mere unsecured contractual right and shall be no greater than the right of any unsecured general creditor of the Company.

SUBJECT TO CLAIMS OF CREDITORS. Payments to be made to the Employee or his Beneficiary shall be made from assets which, for all purposes, shall continue to be a part of the general assets of the Company, and no person shall have, by virtue of the provisions of this Agreement, any interest in, preferred claim on or beneficial interest in any of the Company's assets. The rights of the Employee and his Beneficiary to receive payments from the Company under the provisions hereof shall be a mere unsecured contractual right and shall be no greater than the right of any unsecured general creditor of the Company.

SUBJECT TO CLAIMS OF CREDITORS. Payments to be made to the Employee shall be made from assets which, for all purposes, shall continue to be a part of the general assets of the Company, and no person shall have, by virtue of the provisions of this Agreement, any interest in, preferred claim on or beneficial interest in any of the Company's ’s assets. The rights of the Employee to receive payments from the Company under the provisions hereof shall be a mere unsecured contractual right and shall be no greater than the right of any unsecured general creditor of the Company.