Ownership of the Trust. The assets of the Trust shall be held separate and apart from any assets now or hereafter held in any capacity other than as Trustee hereunder by the Trustees or by any successor Trustees. All of the assets of the Trust shall at all times be considered as vested in the Trustees. No Shareholder shall be deemed to have a severable ownership in any individual asset of the Trust or any right of partition or possession thereof, but each Shareholder shall have a proportionate undivided beneficial interest in the Trust.
Appears in 10 contracts
Samples: Agreement and Declaration of Trust (Pacific Select Fund), Agreement and Declaration of Trust (Pacific Select Fund), Agreement and Declaration of Trust (Pacific Select Fund)
Ownership of the Trust. The assets of the Trust shall be ---------------------- held separate and apart from any assets now or hereafter held in any capacity other than as Trustee hereunder by the Trustees or by any successor Trustees. All of the assets of the Trust shall at all times be considered as vested in the Trustees. No Shareholder shall be deemed to have a severable ownership in any individual asset of the Trust or any right of partition or possession thereof, but each Shareholder shall have a proportionate undivided beneficial interest in the Trust.
Appears in 2 contracts
Samples: Pacific Select Fund, Pacific Select Fund
Ownership of the Trust. The assets of the Trust shall be held ---- ---------------------- separate and apart from any assets now or hereafter held in any capacity other than as Trustee hereunder by the Trustees or by any successor Trustees. All of the assets of the Trust shall at all times be considered as vested in the Trustees. No Shareholder shall be deemed to have a severable ownership in any individual asset of the Trust or any right of partition or possession thereof, but each Shareholder shall have a proportionate undivided beneficial interest in the Trust.
Appears in 1 contract
Samples: Pacific Select Fund
Ownership of the Trust. The assets of the Trust shall be held ---------------------- separate and apart from any assets now or hereafter held in any capacity other than as Trustee hereunder by the Trustees or by any successor Trustees. All of the assets of the Trust shall at all times be considered as vested in the Trustees. No Shareholder shall be deemed to have a severable ownership in any individual asset of the Trust or any right of partition or possession thereof, but each Shareholder shall have a proportionate undivided beneficial interest in the Trust.. ARTICLE III
Appears in 1 contract
Samples: Agreement (Fulcrum Trust)
