Unfunded Program. The Program shall be unfunded, and OCA shall not be required to segregate any assets that may at any time be represented by grants under the Program. Any liability of OCA to any person with respect to any grant under the Program shall be based solely upon contractual obligations that may be created hereunder. No such obligation of OCA shall be deemed to be secured by any pledge of, or other encumbrance on, any property of OCA.
Appears in 6 contracts
Samples: Conversion Incentive Program (Orthodontic Centers of America Inc /De/), Target Stock Program (Orthodontic Centers of America Inc /De/), Stockholder Value Program (Orthodontic Centers of America Inc /De/)
Unfunded Program. The Program Program, insofar as it provides for grants, shall be unfunded, and OCA shall not be required to segregate any assets that may at any time be represented by grants under the Program. Any liability of OCA to any person with respect to any grant under the Program shall be based solely upon contractual obligations that may be created hereunder. No such obligation of OCA shall be deemed to be secured by any pledge of, or other encumbrance on, any property of OCA.
Appears in 1 contract
Samples: Doctors Trust Program Agreement (Orthodontic Centers of America Inc /De/)
