Unsecured General Creditor. Executives and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of the Company. For purposes of the payment of benefits under this Agreement, any and all of the Company's assets shall be, and remain, the general, unpledged unrestricted assets of the Company. The Company's obligation under the Agreement shall be merely that of an unfunded and unsecured promise to pay money in the future.
Appears in 3 contracts
Samples: Directv Group Inc, Control Severance Agreement (Hughes Electronics Corp), Control Severance Agreement (Hughes Electronics Corp)
Unsecured General Creditor. Executives and their Beneficiaries, heirs, Beneficiaries successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of the CompanyBank. For purposes of the payment of benefits under this Agreement, any Any and all of the CompanyBank's assets shall be, and remain, the general, unpledged unrestricted assets of the CompanyBank. The CompanyBank's obligation under the Agreement shall be merely that of an unfunded and unsecured promise to pay money in the future.
Appears in 3 contracts
Samples: Insurance Agreement (MB Bancorp Inc), Insurance Agreement (MB Bancorp Inc), Insurance Agreement (MB Bancorp Inc)
Unsecured General Creditor. Executives and their Beneficiaries, heirs, successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of the Company. For purposes of the payment of benefits under this Agreement, any and all of the Company's ’s assets shall be, and remain, the general, unpledged unrestricted assets of the Company. The Company's ’s obligation under the Agreement shall be merely that of an unfunded and unsecured promise to pay money in the future.
Appears in 2 contracts
Samples: Control Severance Agreement (Directv Group Inc), Control Severance Agreement (Directv Group Inc)
Unsecured General Creditor. Executives and their Beneficiaries, heirs, Beneficiaries successors and assigns shall have no legal or equitable rights, interests or claims in any property or assets of the CompanyBank. For purposes of the payment of benefits under this Agreement, any Any and all of the Company's Bank’s assets shall be, and remain, the general, unpledged unrestricted assets of the CompanyBank. The Company's Bank’s obligation under the Agreement shall be merely that of an unfunded and unsecured promise to pay money in the future.
Appears in 1 contract
Samples: Supplemental Life Insurance Agreement (Bank of Commerce Holdings)
