Common use of Unfunded Obligation Clause in Contracts

Unfunded Obligation. The Participant shall have the status of a general unsecured creditor of the Company. Any amounts payable to the Participant pursuant to the Award shall be an unfunded and unsecured obligation for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974. The Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Board or the Company and the Participant, or otherwise create any vested or beneficial interest in the Participant or the Participant’s creditors in any assets of the Company. The Participant shall have no claim against the Company for any changes in the value of any assets which may be invested or reinvested by the Company with respect to the Award.

Unfunded Obligation. The Participant shall have the status of a general unsecured creditor of the Company. Any amounts payable to the Participant pursuant to the Award shall be an unfunded and unsecured obligation for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974. The Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Board Committee or the Company and the Participant, or otherwise create any vested or beneficial interest in the Participant or the Participant’s creditors in any assets of the Company. The Participant shall have no claim against the Company for any changes in the value of any assets which may be invested or reinvested by the Company with respect to the Award.

Unfunded Obligation. The Participant shall have the status of a general unsecured creditor of the Company. Any amounts payable to the Participant pursuant to the Award shall be an unfunded and unsecured obligation for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974. The Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Board Plan Administrator or the Company and the Participant, or otherwise create any vested or beneficial interest in the Participant or the Participant’s creditors in any assets of the Company. The Participant shall have no claim against the Company for any changes in the value of any assets which may be invested or reinvested by the Company with respect to the Award.

Unfunded Obligation. The Participant shall have the status of a general unsecured creditor of the Company. Any amounts payable to the Participant Participants pursuant to the Award Plan shall be an unfunded and unsecured obligation obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974. The No Participating Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Board or the any Participating Company and the a Participant, or otherwise create any vested or beneficial interest in the any Participant or the Participant’s creditors in any assets of the any Participating Company. The Participant Participants shall have no claim against the any Participating Company for any changes in the value of any assets which may be invested or reinvested by the Company with respect to the AwardPlan.

Unfunded Obligation. The Participant Participants shall have the status of a general unsecured creditor creditors of the Company. Any amounts payable to the Participant Participants pursuant to the Award Plan shall be an unfunded and unsecured obligation obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974. The No Participating Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Board Committee or the any Participating Company and the a Participant, or otherwise create any vested or beneficial interest in the any Participant or the Participant’s creditors in any assets of the any Participating Company. The Participant Participants shall have no claim against the any Participating Company for any changes in the value of any assets which may be invested or reinvested by the Company with respect to the AwardPlan.

Unfunded Obligation. The Participant Participants shall have the status of a general unsecured creditor creditors of the Company. Any amounts payable to the Participant Participants pursuant to the Award this Plan shall be an considered unfunded and unsecured obligation obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974. The Neither the Company nor any of its Affiliates shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Board or Administrator, the Company or any of its Affiliates and the a Participant, or otherwise create any vested or beneficial interest in the any Participant or the Participant’s creditors in any assets of the CompanyCompany or any of its Affiliates. The Participant Participants shall have no claim against the Company or any of its Affiliates for any changes in the value of any assets which may be invested or reinvested by the Company with respect to the Awardthis Plan.

Unfunded Obligation. The Participant Participants shall have the status of a general unsecured creditor creditors of the Company. Any amounts payable to the Participant Participants pursuant to the Award Plan shall be an considered unfunded and unsecured obligation obligations for all purposes, including, without limitation, Title I of the Employee Retirement Income Security Act of 1974. The No Participating Company shall not be required to segregate any monies from its general funds, or to create any trusts, or establish any special accounts with respect to such obligations. The Company shall retain at all times beneficial ownership of any investments, including trust investments, which the Company may make to fulfill its payment obligations hereunder. Any investments or the creation or maintenance of any trust or any Participant account shall not create or constitute a trust or fiduciary relationship between the Board Committee or the any Participating Company and the a Participant, or otherwise create any vested or beneficial interest in the any Participant or the Participant’s creditors in any assets of the any Participating Company. The Participant Participants shall have no claim against the any Participating Company for any changes in the value of any assets which may be invested or reinvested by the Company with respect to the AwardPlan.