Segregation of Trust Funds. Keep the Trust Fund distinct from its own assets and from those of any other person in the accounts and records kept by the Trustee and, if for any reason, the assets of the Trust Fund should become mixed with the assets of the Trustee in the books and records kept by the Trustee, the entire resulting mixed fund shall be deemed to be held by the Trustee in trust hereunder to the extent necessary to satisfy the Trust Fund's claim on such mixed fund. The Trustee may, however, through the use of a Depository authorized pursuant to this Agreement, commingle the Trust Fund with assets of other customers of the Trustee (but not with assets held for the Trustee's own account), in which case the Beneficiaries shall be entitled, in common with those other customers, to its proportionate share of assets so held and/or the rights thereto.
Appears in 5 contracts
Samples: Trust Agreement, Pipeline Reclamation Trust Agreement, Brunswick Pipeline Reclamation Trust Agreement
