General Creditors definition

General Creditors means the unsecured general creditors of the Company, including the Participants.

General Creditors means the persons for the time being and from time to time having claims against the Member to the extent that such claims are not at any such time subordinated, or are not required by the MFDA Rules to be subordinated, in favour of other creditors of the Member;

General Creditors. Meeting” or “AGC” means any General Creditors’ Meeting held under the terms of Chapter II, Section IV of the LFR.

Examples of General Creditors in a sentence

• If the Company shall be wound up, the liquidator shall apply the Segregated Portfolio Assets and the General Assets in accordance with the Act in satisfaction of the claims of the Segregated Portfolio Creditors and the General Creditors.

• In the event that amounts are paid from the Trust Fund to General Creditors of the Company, then as soon as practicable after the Company is no longer Insolvent, the Company shall deposit into the Trust Fund a sum to equal to the Funding Amount, determined as of the date the Company is no longer Insolvent, which date shall be a Valuation Date.

• At all times during the continuance of this Trust, as provided in this Article VII hereof, the principal and income of the Trust Fund shall be subject to the claims of General Creditors under federal and state law.

• The Board of Directors and the Chief Executive Officer of the Company shall have the fiduciary duty and responsibility on behalf of General Creditors to notify the Trustee promptly in writing in the event the Company is Insolvent, and the Trustee shall have the right to rely thereon to the exclusion of all directions or claims for payment made thereafter by Participants.

• At all times during the continuance of this Trust as provided in this Section 7 hereof, the principal and income of the Trust Fund shall be subject to the claims of General Creditors under federal and state law.

• All Annual Fees and/or Equity Awards deferred under this Plan shall continue for all purposes to be a part of the general funds or unissued shares of the Company.5.4. Participants’ Status as General Creditors.

• If at any time the Trustee has received notice as provided below that the Employers are Insolvent, the Trustee shall discontinue payments to Participants and Beneficiaries, and shall hold assets of the Trust Fund for the benefit of the General Creditors of the Employers, pursuant to the provisions of Section 7.3, with no preference whatsoever given claims of employees over claims of other general unsecured creditors of the Employers.

• All assets of the Trust Fund and of each investment fund, and the income thereon, shall be held and invested as a single fund, and the Trustee shall not make any separate investment of the Trust Fund, or make any separate investment fund, for the account of any Participant or other General Creditors prior to receipt of directions to make payments to such Participant or other General Creditors in accordance with Article VI or Article VII.

• If at any time the Trustee has received notice as provided below that Company is Insolvent, Trustee shall discontinue payments to Participants, and shall hold assets of the Trust Fund for the benefit of the Company's General Creditors, pursuant to the provisions of Section 7.3, with no preference whatsoever given claims of employees or Participants over claims of other unsecured creditors of the Company.

• The Trust shall be irrevocable from the Effective Date, and the assets of the Trust Fund shall be held in accordance with the provisions hereof for the purpose of providing assets to assist the Employers in meeting the obligations to Participants under the Plan and to satisfy the claims of General Creditors in the event of Insolvency, and defraying the expenses of the Trust.

More Definitions of General Creditors

General Creditors means the general unsecured creditors of the Employers.

General Creditors means the persons (other than the Principal) now and from time to time having claims against the Firm; and

General Creditors means any person or entity to whom Manhattan Re is or may be indebted for any obligation, other than an obligation arising out of the terms and

General Creditors means the unsecured general creditors of the Company, including without any priority the Participants.

General Creditors means CWK General Creditors, CNC/CNT General Creditors, and PTI General Creditors.

General Creditors means the persons for the time being and from time to time having claims against the Dealer Member to the extent that such claims are not at any such time subordinated, or are not required by the MFD Rules to be subordinated, in favour of other creditors of the Dealer Member;