Common use of Unsecured General Creditor Clause in Contracts

Unsecured General Creditor. Neither Employee nor any other person or entity shall have any legal right or equitable rights, interests or claims in or to any property or assets of the Bank under the provisions of this Agreement. No assets of the Bank shall be held under any trust for the benefit of Employee or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank under this Agreement. All of the Bank’s assets shall be and remain the general, unpledged, unrestricted assets of the Bank. The Bank’s obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.

Appears in 4 contracts

Samples: Employment Agreement (Southern California Bancorp \ CA), Employment Agreement (California BanCorp), Employment Agreement (California BanCorp)

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Unsecured General Creditor. Neither Employee Executive nor any other person or entity shall have any legal right or equitable rights, rights interests or claims in or to any property or assets of the Bank Employer under the provisions of this Agreement. No assets of the Bank Employer shall be held under any trust for the benefit of Employee Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank Employer under this Agreement. All of the BankEmployer’s assets shall be and remain the general, unpledged, unrestricted assets of the BankEmployer. The BankEmployer’s obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.

Appears in 4 contracts

Samples: Restricted Stock Award Agreement (1st Pacific Bancorp), Non Qualified Stock Option Agreement (1st Pacific Bancorp), Non Qualified Stock Option Agreement (1st Pacific Bancorp)

Unsecured General Creditor. Neither Employee Executive nor any other person or entity shall have any legal right or equitable rights, rights interests or claims in or to any property or assets of the Bank under the provisions of this Agreement. No assets of the Bank shall be held under any trust for the benefit of Employee Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank under this Agreement. All of the Bank’s assets shall be and remain the general, unpledged, unrestricted assets of the Bank. The Bank’s obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.

Appears in 4 contracts

Samples: Employment Agreement (1st Pacific Bancorp), Employment Agreement (1st Pacific Bancorp), Employment Agreement (1st Pacific Bancorp)

Unsecured General Creditor. Neither Employee Executive nor any other person or entity shall have any legal right or equitable rights, rights interests or claims in or to any property or assets of the Bank Employer under the provisions of this Agreement. No assets of the Bank Employer shall be held under any trust for the benefit of Employee Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank Employer under this Agreement. All of the BankEmployer’s assets shall be and remain the general, unpledged, unrestricted assets of the BankEmployer. The BankEmployer’s obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.

Appears in 2 contracts

Samples: Employment Agreement (Pacific Mercantile Bancorp), Employment Agreement (Pacific Mercantile Bancorp)

Unsecured General Creditor. Neither Employee Executive nor any other person or entity shall have any legal right or equitable rights, rights interests or claims in or to any property or assets of the Bank Employer under the provisions of this Agreement. No assets of the Bank Employer shall be held under any trust for the benefit of Employee Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank Employer under this Agreement. All of the Bank’s Employer's assets shall be and remain the general, unpledged, unrestricted assets of the BankEmployer. The Bank’s Employer's obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.

Appears in 2 contracts

Samples: Employment Agreement (Pacific Mercantile Bancorp), Employment Agreement (Pacific Mercantile Bancorp)

Unsecured General Creditor. Neither Employee Executive nor any other person or entity shall have any legal right or equitable rights, interests or claims in or to any property or assets of the Bank under the provisions of this Agreement. No assets of the Bank shall be held under any trust for the benefit of Employee Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank under this Agreement. All of the Bank’s assets shall be and remain the general, unpledged, unrestricted assets of the Bank. The Bank’s obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.

Appears in 2 contracts

Samples: Employment Agreement (1st Century Bancshares, Inc.), Employment Agreement (1st Century Bancshares, Inc.)

Unsecured General Creditor. Neither Employee Executive nor any other person or entity shall have any legal right or equitable rights, rights interests or claims in or to any property or assets of the Bank Employer under the provisions of this Agreement. No assets of the Bank Employer shall be held under any trust for the benefit of Employee Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank Employer under this Agreement. All of the Bank’s Employer's assets shall be and remain the general, unpledged, unrestricted assets of the BankEmployer. The Bank’s Employer's 9 obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.

Appears in 1 contract

Samples: Employment Agreement (Pacific Mercantile Bancorp)

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Unsecured General Creditor. Neither Employee the Executive nor any other person or entity shall have any legal right or equitable rights, rights interests or claims in or to any property or assets of the Bank under the provisions of this Agreement. No assets of the Bank shall be held under any trust for the benefit of Employee the Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank under this Agreement. All of the Bank’s assets shall be and remain the general, unpledged, unrestricted assets of the Bank. The Bank’s obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee The Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder.

Appears in 1 contract

Samples: Employment Agreement (1st Century Bancshares, Inc.)

Unsecured General Creditor. Neither Employee Executive nor any other person or entity shall have any legal right or equitable rights, rights interests or claims in or to any property or assets of the Bank Employer under the provisions of this ofthis Agreement. No assets of the Bank ofEmployer shall be held under any trust for the benefit beneflt of Employee Executive or any other person or entity or held in any way as security for the fulfilling of the fulfllling ofthe obligations of the Bank ofEmployer under this Agreement. All of the Bank’s ofEmployer's assets shall be and remain the general, unpledged, unrestricted assets of the BankEmployer. The Bank’s Employer's obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of moneyofmoney, they are promises to pay money in the future. Employee Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder. 9.

Appears in 1 contract

Samples: Employment Agreement (Pacific Mercantile Bancorp)

Unsecured General Creditor. Neither Employee Executive nor any other person or entity shall have any legal right or equitable rights, rights interests or claims in or to any property or assets of the Bank Employer under the provisions of this Agreement. No assets of the Bank Employer shall be held under any trust for the benefit of Employee Executive or any other person or entity or held in any way as security for the fulfilling of the obligations of the Bank Employer under this Agreement. All of the BankEmployer’s assets shall be and remain the general, unpledged, unrestricted assets of the BankEmployer. The BankEmployer’s obligations under this Agreement are unfunded and unsecured promises, and to the extent such promises involve the payment of money, they are promises to pay money in the future. Employee Executive and any person or entity claiming through him shall be unsecured general creditors with respect to any rights or benefits hereunder. 9.

Appears in 1 contract

Samples: Employment Agreement (Pacific Mercantile Bancorp)

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