Unfunded Plan Status. All payments pursuant to the Plan shall be made from the general funds of the Company and no special or separate fund shall be established or other segregation of assets made to assure payment. No Participant or other person shall have under any circumstances any interest in any particular property or assets of the Company as a result of participating in the Plan. Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one (1) or more grantor trusts, the assets of which are subject to the claims of the Company’s creditors, to assist it in accumulating funds to pay its obligations under the Plan.
UnfundedThis Plan Status.is intended to be an unfunded plan. All payments pursuant to the Plan shall be made from the general funds of the Company and no special or separate fund shall be established or other segregation of assets made to assure payment. No Participant or other person shall have under any circumstances any interest in any particular property or assets of the Company as a result of participating in the Plan. Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one (1) or more grantor trusts, the assets of which are subject to the claims of the Company’s creditors, to assist it in accumulating funds to pay its obligations under the Plan.
Unfunded Plan Status. All payments pursuant to the Planbe made hereunder shall be madepaid from the general fundsassets of the CompanyCompany, and no special or separate fund shall be established or otherand no segregation of assets shall be made to assure payment.payment of such amounts. No Participant or other person shall have any right, title, or interest whatsoever in or to any amounts under the Plan prior to receipt. Nothing contained in the Plan, and no actions taken pursuant to its provisions, shall create or be construed to create a trust or fund of any circumstanceskind, or a fiduciary relationship between the Company and any interest inother person. The rights of any particular propertyParticipant or assetsbeneficiary to any amounts hereunder shall be no greater than those of an unsecured general creditor of the Company as a result of participating in the Plan. Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one (1) or more grantor trusts, the assets of which are subject to the claims of the Company’s creditors, to assist it in accumulating funds to pay its obligations under the Plan.Company.
Unfunded Plan Status. All payments pursuant to the Plan shall be made from the general fundsNo Funding of thePlan. The Company and no special or separate fund shall be established or other segregation of assets made to assure payment. No Participant or other person shall have under any circumstances any interest in any particular property or assets of the Company as a result of participating in the Plan. Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one (1)required to fund or more grantor trusts,otherwise segregate any cash or any other assets, which may at any time be paid to Participants under the assets of which are subject to the claimsPlan. The Plan shall constitute an “unfunded” plan of the Company’s creditors,Company. The Company shall not, by any provisions of the Plan, be deemed to assist it in accumulating funds to pay its obligations underbe a trustee of any property, and any rights of any Participant or former Participant shall be no greater than those of a general unsecured creditor or shareholder of the Plan.Company, as the case may be.
UnfundedFUNDING. Benefits payable under this Plan Status. All payments pursuant to a Participant or to a beneficiary will be paid by the Plan shallCompany from its general assets. The Company is not required to segregate on its books or otherwise establish any funding procedure for any amount to be made fromused for the generalpayment of benefits under this Plan. The Company may, however, in its sole discretion, set funds aside in investments to meet its anticipated obligations under this Plan. Any such action or set-aside may not be deemed to create a trust of any kind between the Company and no special or separate fund shall be established or other segregation of assets made to assure payment. Noany Participant or beneficiary or to constitute the funding of any Plan benefits. Consequently, any person entitled to a payment under this Plan will have no rights greater than the rights of any other person shall have under any circumstances any interest in any particular property or assetsunsecured creditor of the Company as a result of participating in the Plan. Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one (1) or more grantor trusts, the assets of which are subject to the claims of the Company’s creditors, to assist it in accumulating funds to pay its obligations under the Plan.Company.
UnfundedFunding Status The Plan Status. All payments pursuant to the Plan shallat all times will be entirely unfunded and no provision will be made from the general funds of the Company and no special or separate fund shall be established or other segregation of assets madewith respect to assure payment. No Participant or other person shall have undersegregating any circumstances any interest in any particular property or assets of the Company asfor payment of any benefits Any Participant or Eligible Spouse will only have the rights of a resultgeneral unsecured creditor of participating in the Plan. Notwithstanding the foregoing, the Company with respect to any rights under the Plan The Company may (but shall notchoose to establish a separate trust (the "Trust"), and to contribute to the Trust from time to time assets that will be obligated to) create one (1) or more grantor trusts, the assets of which areheld therein, subject to the claims of the Company’Company's creditors,creditors in the event of the Company's insolvency, until paid to assist itPlan Participants and Surviving Spouses in accumulating fundssuch manner and at such times as specified in the Plan It is the intention of the Company that such Trust, if established, will constitute an unfunded arrangement, and will not affect the status of the Plan as an unfunded Plan The trustee of the Trust may invest the Trust assets, unless the Board, in its sole discretion, chooses either to pay its obligations underinstruct the Plan.trustee as to the investment of Trust assets or to appoint one or more investment managers to do so
UnfundedThe Plan Status. All payments pursuantis intended to the Planconstitute an “unfunded” plan and Participants shall be made from the general funds ofhave no claim against the Company and no special or separate fund shall be established orits assets other segregation of assets made to assure payment. No Participant or other person shall have under any circumstances any interest in any particular property or assets of thethan as unsecured general creditors. The Company as a result of participating in the Plan. Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one (1)required to fund, or more grantor trusts, theotherwise segregate assets of which are subject to the claims of the Company’s creditors, to assist it in accumulating funds to pay its obligationsbe used for payment of, benefits under the Plan.
Section # Unfunded Plan Status.Plan. All payments pursuant toof monetary benefits provided under the Plan shall be madepaid from the general fundsassets of the CompanyEmployer and no special or separate fund shall be established or other segregationto secure payment of assets made to assure payment. No Participant or other person shall have under any circumstances any interest in any particular property or assets of the Company as a result of participating in the Plan.vested amounts. Notwithstanding the foregoing, the CompanyEmployer may (but shall not be obligated to) create one (1) or moreestablish a grantor trusts, the assets of which are subject to the claims of the Company’s creditors,trust to assist it in accumulating fundsfunding Plan obligations; provided, however, that such trust shall at all times remain located within the United States. Any payments of vested amounts made to pay itsan Employee or other person from any such trust shall relieve the Employer from any further obligations under the Plan only to the extent of such payment. Nothing herein shall constitute the creation of a trust or other fiduciary relationship between the Employer and any other person. No Employee shall have any right to, or interest in, any particular assets of the Employer which may be applied by the Employer to the payment of benefits or other rights under this Plan.
UnfundedThe Plan Status. All payments pursuant toshall be unfunded and all costs of the Plan shall be madepaid from the Company’s general fundsassets. Neither the Company nor the Board shall be required to segregate any assets that may at any time be represented by benefits under the Plan. Neither the Company nor the Board shall be deemed to be a trustee of any amounts to be paid under the Plan. Any liability of the Company and no special or separate fundto any Participant with respect to any benefit shall be establishedbased solely upon any contractual obligations created by the Plan and the Participation Agreement; no such obligation shall be deemed to be secured by any pledge or other segregation of assets made to assure payment. No Participant or other person shall have under any circumstancesencumbrance on any interest in any particular property or assets of the Company as a result of participating in the Plan. Notwithstanding the foregoing, the Company may (but shall not be obligated to) create one (1) or more grantor trusts, the assets of which are subject to the claims of the Company’s creditors, to assist it in accumulating funds to pay its obligations under the Plan.Company.
Unfunded Plan Status. All payments pursuant toNothing contained in the Plan shallcreates or is intended to create a trust of any kind or a fiduciary relationship between the Company and any participant, beneficiary, or legal representative or any other person. To the extent that a person acquires a right to receive payments under the Plan, such right will be madeno greater than the right of an unsecured general creditor of the Company. Any awards to be paid under this Plan will be paid from the general funds of the Company and no special or separate fund shall be established or other segregation of assets will be made to assure payment. No Participant or other person shall have under any circumstances any interest in any particular property or assetspayment of the Companysuch amounts except as a result of participatingexpressly set forth in the Plan. Notwithstanding the foregoing, the Company may (but shallThe Plan is not intended to be obligated to) create one (1) or more grantor trusts, the assets of which are subject to the claimsEmployee Retirement Income Security Act of the Company’s creditors, to assist it in accumulating funds to pay its obligations under the Plan.1974, as amended (ERISA).
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