Assets Belonging to Sub-Trusts Clause Samples

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Assets Belonging to Sub-Trusts. All consideration received by the Trust for the issue or sale of Shares of a particular Sub-Trust or any classes thereof, together with all assets in which such consideration is invested or reinvested, all income, earnings, profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds in whatever form the same may be, shall be held by the Trustees in trust for the benefit of the holders of Shares of that Sub-Trust or class thereof and shall irrevocably belong to that Sub-Trust (and be allocable to any classes thereof) for all purposes, and shall be so recorded upon the books of account of the Trust. Such consideration, assets, income, earnings, profits, and proceeds thereof, including any proceeds derived from the sale, exchange or liquidation of such assets, and any funds or payments derived from any reinvestment of such proceeds, in whatever form the same may be, together with any General Items (as hereinafter defined) allocated to that Sub-Trust as provided in the following sentence, are herein referred to as "assets belonging to" that Sub-Trust (and allocable to any classes thereof). In the event that there are any assets, income, earnings, profits, and proceeds thereof, funds, or payments which are not readily identifiable as belonging to any particular Sub-Trust (collectively "General Items"), the Trustees shall allocate such General Items to and among any one or more of the Sub-Trusts established and designated from time to time in such manner and on such basis as they, in their sole discretion, deem fair and equitable; and any General Items so allocated to a particular Sub-Trust shall belong to that Sub-Trust (and be allocable to any classes thereof). Each such allocation by the Trustees shall be conclusive and binding upon the holders of all Shares of all Sub-Trusts (including any classes thereof) for all purposes.
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Assets Belonging to Sub-Trusts. All consideration received by the Trust for the issue or sale of Shares of a particular Sub-Trust or any classes thereof, all assets in which the consideration is invested, and proceeds from the sale, exchange or liquidation thereof, all income earnings, profits and proceeds from those assets and any items allocated to the Sub-Trust or class thereof by the Trustees shall be held in trust by the Trustees for the benefit of the Shareholders of that Sub-Trust or class thereof shall irrevocably belong to that Sub-Trust (and be allocable to any classes thereof) and shall be recorded on the books of account of the Trust as assets belonging to that Sub-Trust. The Trustees may, in a manner they deem fair and equitable, allocate among the Sub-Trusts any items which are not readily identifiable to any one particular Sub-Trust (and allocable to any classes thereof). Each allocation shall be binding upon the Shareholders of the Trust.
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Assets Belonging to Sub-Trusts. All consideration received by the Trust for the issue or sale of Shares of a particular Sub-Trust or any classes thereof, all assets in which the consideration is invested, and proceeds from the sale, exchange or liquidation thereof, all income earnings, profits and proceeds from those assets and any items allocated to the Sub-Trust or class thereof by the Trustees shall be held in trust by the Trustees for the benefit of the Shareholders of that Sub-Trust or class thereof shall irrevocably belong to that Sub-Trust (and AmeriSen Funds First Amended and Restated Master Trust Agreement March 26, 2001 Page 11 of 11 be allocable to any classes thereof) and shall be recorded on the books of account of the Trust as assets belonging to that Sub-Trust. The Trustees may, in a manner they deem fair and equitable, allocate among the Sub-Trusts any items which are not readily identifiable to any one particular Sub-Trust (and allocable to any classes thereof). Each allocation shall be binding upon the Shareholders of the Trust.
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