Trust Assets. The principal of the Trust, and any earnings thereon, shall be held separate and apart from other funds of the Company and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan(s) and this Trust Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against The Company. Any assets held by the Trust will be subject to the claims of the Company's general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein.
Appears in 2 contracts
Samples: Deferred Compensation Plan (Fremont General Corp), Fremont General Corp
Trust Assets. The principal of the Trust, and any earnings thereon, shall be held separate and apart from other funds of the Company and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, on or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan(s) Plan and this Trust Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against The the Company. Any assets held by the Trust will be subject to the claims of the Company's general creditors under federal and state law in the event of the Company's Insolvency, as defined in Section 3(a6(a) hereinhereof.
Appears in 1 contract
Samples: Contingent Share Award Agreement (Flextronics International LTD)
Trust Assets. The principal of the Trust, and any earnings thereon, shall be held separate and apart from other funds of the Company and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan(s) and this Trust Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against The Company. Any assets held by the Trust will be subject to the claims of the Company's general creditors under federal and state law in the event of Insolvency, as, as defined in Section 3(a) herein.
Appears in 1 contract
Samples: Per Se Technologies Inc
Trust Assets. The principal of the Trust, and any earnings thereon, thereon shall be held separate and apart from other funds of the Company and shall be used exclusively for the uses and purposes of Plan participants Participants and general creditors as herein set forth. Plan participants Participants and their beneficiaries Beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan(s) Plan and this Trust Agreement shall be mere unsecured contractual rights of Plan participants Participants and their beneficiaries Beneficiaries against The the Company. Any assets held by the Trust will be subject to the claims of the Company's general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein.
Appears in 1 contract
Samples: Onyx Acceptance Corp
Trust Assets. The principal of the Trust, and any earnings thereon, shall be held separate and apart from other funds of the Company Employer and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan(s) Plan and this Trust Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against The Companythe Employer. Any assets held by the Trust will be subject to the claims of the CompanyEmployer's general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein.
Appears in 1 contract
Samples: Qualified Plan Trust Agreement (Weingarten Realty Investors /Tx/)
Trust Assets. The principal of the Trust, and any earnings thereon, shall be held separate and apart from other funds of the Company Employer and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan(s) Plan and this Trust Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against The Companythe Employer. Any assets held by the Trust will be subject to the claims of the Company's Employer’s general creditors under federal and state law in the event of Insolvency, as defined in Section 3(a) herein.
Appears in 1 contract
Trust Assets. The principal of the Trust, and any earnings thereon, shall be held separate and apart from other funds of the Company and shall be used exclusively for the uses and purposes of Plan participants and general creditors as herein set forth. Plan participants and their beneficiaries shall have no preferred claim on, or any beneficial ownership interest in, any assets of the Trust. Any rights created under the Plan(s) Plan and this Trust Agreement shall be mere unsecured contractual rights of Plan participants and their beneficiaries against The the Company. Any assets held by the Trust will be subject to the claims of the Company's general creditors under federal and state law in the event of Insolvency, as, as defined in Section 3(a) herein.
Appears in 1 contract
Samples: Deferred Stock Unit Plan Trust Agreement (Per Se Technologies Inc)