Common Contracts
1 similar null contracts
Giddens, 574 B.R. at 55. Each agreement defines “Shearson” or “Employer” as “Shearson Lehman Brothers Inc., for itself and as agent for certain of its subsidiaries.” Id.; see also Agreement at 1.January 4th, 2021
Each agreement contains two provisions stating that Shearson’s obligations to pay benefits are unsecured, subordinated obligations. Giddens, 574 B.R. at 55. Section 5(d) states that “payments to be made by Shearson to Employee hereunder are unsecured subordinated obligations of Employer only, and Employee is only a general subordinated creditor of Shearson in that respect.” Id.
