Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of the Grantee or any other person or persons to whom benefits are to be paid pursuant to the terms of the Plan or this Agreement. The interest of the Grantee or any other person hereunder shall be limited to the right to receive the benefits as set forth herein. To the extent that the Grantee or any other person acquires a right to receive benefits under the Plan or this Agreement, such rights shall be no greater than the right of an unsecured general creditor of the Company.
Appears in 6 contracts
Samples: Award Agreement of Time Based Restricted Stock Units (Questar Corp), Award Agreement of Time Based Restricted Stock Units (Questar Gas Co), Award Agreement of Time Based Restricted Stock Units (Questar Corp)
Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of the Grantee Executive or any other person or persons to whom benefits are to be paid pursuant to the terms of the Plan or this Agreement. The interest of the Grantee Executive or any other person hereunder shall be limited to the right to receive the benefits as set forth herein. To the extent that the Grantee Executive or any other person acquires a right to receive benefits under the Plan or this Agreement, such rights shall be no greater than the right of an unsecured general creditor of the Company.
Appears in 5 contracts
Samples: Time Based Restricted Stock Units Agreement (Maguire Properties Inc), Time Based Restricted Stock Units Agreement (Maguire Properties Inc), Time Based Restricted Stock Units Agreement (Maguire Properties Inc)
Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of the Grantee Employee or any other person or persons to whom benefits are to be paid pursuant to the terms of the Plan or this Agreement. The interest of the Grantee Employee or any other person hereunder shall be limited to the right to receive the benefits as set forth herein. To the extent that the Grantee Employee or any other person acquires a right to receive benefits under the Plan or this Agreement, such rights shall be no greater than the right of an unsecured general creditor of the Company.. [SIGNATURE PAGE FOLLOWS]
Appears in 1 contract
Samples: Restricted Stock Units Agreement (MPG Office Trust, Inc.)
Unfunded, Unsecured Obligations. The obligations of the Company under the Plan and this Agreement shall be unfunded and unsecured, and nothing contained herein shall be construed as providing for assets to be held in trust or escrow or any other form of segregation of the assets of the Company for the benefit of the Grantee Director or any other person or persons to whom benefits are to be paid pursuant to the terms of the Plan or this Agreement. The interest of the Grantee Director or any other person hereunder shall be limited to the right to receive the benefits as set forth herein. To the extent that the Grantee Director or any other person acquires a right to receive benefits under the Plan or this Agreement, such rights shall be no greater than the right of an unsecured general creditor of the Company.
Appears in 1 contract
Samples: Deferred Stock and Dividend Equivalent Agreement (Scpie Holdings Inc)
