Common use of Status as a Creditor Clause in Contracts

Status as a Creditor. Unless and until Restricted Stock has vested in accordance with the Agreement, the Participant will have no settlement right with respect to any Restricted Stock. Prior to settlement of any vested Restricted Stock, the vested Restricted Stock will represent an unfunded and unsecured obligation of the Company, payable (if at all) only from the general assets of the Company. The Participant is an unsecured general creditor of the Company, and settlement of Restricted Stock is subject to the claims of the Company’s creditors.