Pooled Investments Sample Clauses

Pooled Investments. Notwithstanding Article 6.1, assets credited to the Trust and to each Separate Account may be pooled for investment‌ purposes, provided that, except as provided in Article 6.1 with respect to the payment of administrative and investment costs, under no circumstances may the assets credited to a Separate Account be available to meet the liabilities of or to subsidize the liabilities of, or defray the expenses attributable to another Separate Account. For greater clarity, costs associated with the investment of assets that have been pooled pursuant to this Article 6.2 may be payable from the pooled funds, but shall be allocated on a reasonable basis by the Trustees to the Separate Accounts from which such pooled funds derive.

Pooled Investments. Assets invested by the Trust Administrator under the terms of this Agreement may from time to time be invested in individual securities, or in a proprietary money market mutual fund or local government investment pool (either, a “Pool”). Each Pool is a commingled fund managed by the Trust Administrator. Average daily net assets subject to the fees described in this section shall not take into account any funds invested in the Pool. Expenses of the Pool, including compensation for the Trust Administrator and the Pool custodian, are described in the relevant prospectus or information statement and are paid from the Pool.