Common use of ACCOUNTING BY THE TRUSTEE Clause in Contracts

ACCOUNTING BY THE TRUSTEE. The Trustee shall keep accurate and detailed records of all investments, receipts, disbursements, and all other transactions required to be made, including such specific records as shall be agreed upon between the Company and the Trustee. Within ninety (90) days following the close of each calendar year and within ninety (90) days after the removal or resignation of the Trustee, the Trustee shall deliver to the Company and the affected participants in the Plan a written account of its administration of the Trust during such year or during the period from the close of the last preceding year to the date of such removal or resignation, setting forth all investments, receipts, disbursements and other transactions effected by it, including a description of all securities and investments purchased and sold with the cost or net proceeds of such purchases or sales (accrued and showing all cash, securities and other property held in the Trust at the end of such year or as of the date of such removal or resignation, as the case may be. If, within ninety (90) days after the Trustee mails to the Company a statement with respect to the Trust, the Company has not given the Trustee written notice of any exception or objection thereto, the statement shall be deemed to have been approved, and in such case, the Trustee shall not be liable for any matters reasonably apparent from the face of such statements.

ACCOUNTING BY THE TRUSTEE. The Trustee shall keep accurate and detailed records of all investments, receipts, disbursements, and all other transactions required to be made, including such specific records as shall be agreed upon in writing between the Company and the Trustee. Within ninety sixty (9060) days following the close of each calendar year and within ninety sixty (9060) days after the removal or resignation of the Trustee, the Trustee shall deliver to the Company and the affected participants in the Plan a written account of its administration of the Trust during such year or during the period from the close of the last preceding year to the date of such removal or resignation, setting forth all investments, receipts, disbursements and other transactions effected by it, including a description of all securities and investments purchased and sold with the cost or net proceeds of such purchases or sales (accrued interest paid or receivable being shown separately), and showing all cash, securities and other property held in the Trust at the end of such year or as of the date of such removal or resignation, as the case may be. If, within ninety (90) days after To the Trustee mails to extent the Company shall, in its sole discretion, determine that a statement sub-trust is required for any Plan to comply with respect to the Trust, the Company has not given the Trustee written notice of any exception or objection thereto, the statement shall be deemed to have been approved, and in such caseexempt from Section 409A, the Trustee shall not be liable maintain a separate sub-trusts for any matters reasonably apparent from the face of such statementsPre-2005 Plans and 2005 Plans.

ACCOUNTING BY THE TRUSTEE. The Trustee shall keep accurate and detailed records of all investments, receipts, disbursements, and all other transactions required to be made, including such specific records as shall be agreed upon in writing between the Company NBD and the Trustee. Within ninety (90) days following the close of each calendar year and within ninety (90) days after the removal or resignation of the Trustee, the Trustee shall deliver to the Company and the affected participants in the Plan NBD a written account of its administration of the Trust during such year year, or during the period from the close of the last preceding year to the date of such removal or resignation, setting forth all investments, receipts, disbursements and other transactions effected by it, including a description of all securities and investments purchased and sold sold, with the cost or net proceeds of such purchases or sales (accrued interest paid or receivable being shown separately), and showing all cash, securities and other property held in the Trust at the end of such year or as of the date of such removal or resignation, as the case may be. If, In the absence of the filing in writing with the Trustee by NBD of exceptions or objections to any such accounting within ninety (90) days after the Trustee mails to the Company a statement with respect to the Trustdays, the Company has not given the Trustee written notice of any exception or objection thereto, the statement NBD shall be deemed to have been approvedapproved such accounting, and in such casecase or upon the written approval of NBD of any such accounting, the Trustee shall not be liable for any released, relieved and discharged with respect to all matters reasonably apparent from and things disclosed in such accounting as though such accounting had been settled by the face decree of such statementsa court of competent jurisdiction. NBD or the Trustee may nevertheless require judicial settlement of the accounts of the Trustee.