Title of Trust Assets. The legal and equitable title and ownership of all assets at any time constituting a part of the Trust Fund shall be and remain with the Trustee, and neither any Employer nor any Participant in the Plan (or any person who may be entitled to benefits under the Plan) shall ever have any legal or equitable estate therein, save and except that a Participant shall be entitled to receive distribution as and when lawfully made under the terms hereof.
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Samples: Prototype Defined Contribution Plan (United Community Bancorp), Directed Trust Agreement
Title of Trust Assets. The legal and equitable title and ownership of all assets at any time constituting a part of the Trust Fund shall be and remain with the Trustee, Trustee and neither any Employer the Company nor any Participant in the Plan (or any person who may be entitled to benefits under the Plan) shall ever have any legal or equitable estate therein, save and except that a Participant shall be entitled to receive distribution distributions as and when lawfully made under the terms hereof, and the Company may receive a distribution to the extent permitted by Section 8.2(a), 10.3, 10.4, or 10.5.
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Samples: Trust Agreement (Hooker Funiture Corp Employee Stock Ownership Plan Trust)
Title of Trust Assets. The legal and equitable title and ownership of all assets at any time constituting a part of the Trust Fund shall be and remain with the Trustee, Trustee and neither any Employer the Company nor any Participant in the Plan (or any person who may be entitled to benefits under the Plan) shall ever have any legal or equitable estate therein, save and except that a Participant shall be entitled to receive distribution distributions as and when lawfully made under the terms hereof.
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