Common use of Unsecured Creditor Clause in Contracts

Unsecured Creditor. This Agreement shall create a contractual obligation on the part of Company to make payment of the RSUs and Deferred Stock Units credited to the account of the Participant at the time provided for in this Agreement. Neither the Participant nor any other party claiming an interest in deferred compensation hereunder shall have any interest whatsoever in any specific assets of the Company. The Executive’s right to receive payments hereunder shall be that of an unsecured general creditor of Company.

Appears in 2 contracts

Samples: Restricted Stock Unit Agreement (Arbitron Inc), Restricted Stock Unit Agreement (Arbitron Inc)

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Unsecured Creditor. This Agreement shall create creates a contractual obligation on the part of the Company to make payment of under the RSUs and Deferred Stock Units credited to the your account of the Participant at the time provided for in this Agreement. Neither the Participant you nor any other party claiming an interest in deferred compensation hereunder shall have any interest whatsoever in any specific assets of the Company. The Executive’s Your right to receive payments hereunder shall be is that of an unsecured general creditor of Company.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Biodel Inc)

Unsecured Creditor. This Agreement shall create a contractual obligation on the part of Company to make payment of the RSUs and Deferred Stock Units credited to the account of the Participant at the time provided for in this Agreement. Neither the Participant nor any other party claiming an interest in deferred compensation hereunder shall have any interest whatsoever in any specific assets of the Company. The Executive’s right to receive payments hereunder shall be that of an unsecured general creditor of Company.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Arbitron Inc)

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Unsecured Creditor. This Agreement shall create a contractual obligation on the part of Company to make payment of the RSUs and Deferred Stock Units credited to the account of the Participant at the time provided for in this Agreement. Neither the Participant nor any other party claiming an interest in deferred compensation hereunder shall have any interest whatsoever in any specific assets of the Company. The ExecutiveParticipant’s right to receive payments hereunder shall be that of an unsecured general creditor of Company.

Appears in 1 contract

Samples: Restricted Stock Unit Agreement (Blackboard Inc)

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