Common use of Accounting by Trustee Clause in Contracts

Accounting by Trustee. 7.1 The Trustee shall maintain such books, records and accounts as may be necessary for the proper administration of the Trust assets, including such specific records as shall be agreed upon in writing by the Company and the Trustee. Within 60 days following the close of each Plan Year that includes or commences after the date of this Trust until the termination of this Trust or the removal or resignation of the Trustee (and within 60 days after the date of such termination, removal or resignation), the Trustee shall render to the Company an accounting with respect to the Trust assets as of the end of the then most recent Plan Year (and as of the date of such termination, removal or resignation, as the case may be). The Trustee shall furnish to the Company on a quarterly basis and in a timely manner such information regarding the Trust as the Company shall require for purposes of preparing its statements of financial condition. Upon the written request of the Company or, on or after the date on which the Trust has become irrevocable, the Fiduciary, the Trustee shall deliver to the Fiduciary or the Company, as the case may be, a written report setting forth the amount held in the Trust and a record of the deposits made with respect thereto by the Company. Unless the Company or the Fiduciary shall have filed with the Trustee written exception or objection to the statement and account furnished by the Trustee within 90 days after receipt thereof, the Company and the Trust Beneficiaries shall be deemed to have approved such statement and account, and in such case the Trustee shall be forever released and discharged with respect to all matters and things reported in such statement and account as though it had been settled by a decree of a court of competent jurisdiction in an action or proceeding to which the Company and the Participants were parties.

Accounting by Trustee. 7.1 (a) The Trustee shall maintain such books, records and accounts as may be necessary for the proper administration of the Trust assets, including such specific records as shall be agreed upon in writing by the Company Ameritrust and the Trustee. Within , and shall render to each Participating Employer, within 60 days following the close of each Plan Year that includes or commences after calendar year following the date of this Trust until the termination of this Trust or the removal or resignation of the Trustee (and within 60 days after the date of such termination, removal or resignation), the Trustee shall render to the Company an accounting with respect to the Trust assets as of the end of the then most recent Plan Year calendar year (and as of the date of such termination, removal or resignation, resignation as the case may be). The Trustee shall furnish to the Company each Participating Employer on a quarterly monthly basis and in a timely manner such information regarding the Trust as the Company each Participating Employer shall require for purposes of preparing its statements of financial condition. The Trustee shall at all times maintain a separate bookkeeping account for each Participating Employer and for each Executive as prescribed by Section 7(b) hereof. Upon the written request of the Company or, on an Executive or after the date on which the Trust has become irrevocable, the FiduciaryAmeritrust, the Trustee shall deliver to the Fiduciary such Executive or the CompanyAmeritrust, as the case may be, a written report setting forth the amount held in the Trust for such Executive (or each Executive if such request is made by Ameritrust) and a record of the deposits made with respect thereto by the Companyeach Participating Employer. Unless the Company Ameritrust or the Fiduciary any Executive shall have filed with the Trustee written exception exceptions or objection objections to the any such statement and account furnished by the Trustee within 90 one hundred eighty (180) days after receipt thereof, Ameritrust or the Company and the Trust Beneficiaries Executive shall be deemed to have approved such statement and account, and in such case the Trustee shall be forever released and discharged with respect to all matters and things reported in such statement and account as though it had been settled by a decree of a court of competent jurisdiction in an action or proceeding to which the Company each Participating Employer and the Participants Executive were parties.

Accounting by Trustee. 7.1 The Trustee shall maintain such bookskeep accurate and detailed records of all investments, records receipts, disbursements, and accounts as may all other transactions required to be necessary for the proper administration of the Trust assetsmade, including such specific records as shall be agreed upon in writing by between the Company and the TrusteeTrustee (which records shall separately identify and account for assets deposited by the Company and/or Bank, respectively) and all records necessary to carry out its responsibilities described in Section 3(b). Within 60 30 days following the close of each Plan Year that includes or commences calendar year and within 30 days after the date of this Trust until the termination of this Trust or the removal or resignation of Trustee, Trustee shall deliver to the Trustee (Company, Bank and within 60 days after the Executive 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 terminationresignation, removal 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 resignationnet proceeds of such purchases or sales (accrued interest paid or receivable being shown separately), the Trustee shall render to the Company an accounting with respect to and showing all cash, securities and other property held in the Trust assets as of at the end of the then most recent Plan Year (and such year or as of the date of such termination, removal or resignation, as the case may be). The Trustee shall furnish to the Company on a quarterly basis and in a timely manner such information regarding the Trust as the Company shall require for purposes of preparing its statements of financial condition. Upon the written request expiration of the Company or, on or after 180 days from the date on which the Trust has become irrevocable, the Fiduciaryof filing such annual or other statement, the Trustee shall deliver be released and discharged from any liability or accountability to anyone as respects the Fiduciary propriety of its acts or the Companytransactions shown in such account, as the case may be, a written report setting forth the amount held in the Trust and a record of the deposits made except with respect thereto by the Company. Unless to any acts or transactions as to which the Company or the Fiduciary and/or Bank, within such 180 day period, shall have filed file with the Trustee its written exception or objection to disapproval. In the statement event such a disapproval is filed, and account furnished unless the matter is compromised by agreement between the Trustee within 90 days after receipt thereof, and the Company and the Trust Beneficiaries shall be deemed to have approved such statement and accountand/or Bank, and in such case the Trustee shall be forever released and discharged with respect file its statement covering the period from the date of the last annual statement to all matters and things reported which no objection was made in such statement and account as though it had been settled by a decree of a any court of competent jurisdiction in an action for audit or proceeding to adjudication. The Trustee may conclusively rely on determinations of the Company and/or Bank of valuations for assets of the Trust for which the Company and the Participants were partiesTrustee deems there to be no readily determinable fair market value.

Accounting by Trustee. 7.1 The Trustee shall maintain such books, records and accounts as may be necessary for the proper administration of the Trust assets, including such specific records as shall be agreed upon in writing by the Company and the Trustee. Within 60 days following the close of each Plan Year calendar year that includes or commences after the date of this Trust until the termination of this Trust or the removal or resignation of the Trustee (and within 60 days after the date of such termination, removal or resignation), the Trustee shall render to the Company an accounting with respect to the Trust assets as of the end of the then most recent Plan Year calendar year (and as of the date of such termination, removal or resignation, as the case may be). The Trustee shall furnish to the Company on a quarterly basis (or as the Company shall direct from time to time) and in a timely manner such information regarding the Trust as the Company shall require for purposes of preparing its statements of financial condition. The Trustee shall at all times maintain separate bookkeeping accounts for each Director as prescribed in Section 7.2 hereof, and, upon the written request of a Director, shall provide to the Director an annual statement of the Director's account. Upon the written request of the Company or, on or after the date on which the Trust has become irrevocableof a Change of Control, the Fiduciarya Director, the Trustee shall deliver to the Fiduciary Company or the CompanyDirector, as the case may be, a written report setting forth the amount held in the Trust and a record of the deposits made with respect thereto to the Trust by the Company. Unless the Company or the Fiduciary any Director shall have filed with the Trustee written exception or objection to the any such statement and account furnished by the Trustee within 90 days after receipt thereof, the Company and the Trust Beneficiaries Directors shall be deemed to have approved such statement and account, and in such case case, the Trustee shall be forever released and discharged with respect to all matters and things reported in such statement and account as though it had been settled by a decree of a court of competent jurisdiction in an action or proceeding to which the Company and the Participants Directors were parties.

Accounting by Trustee. 7.1 VII.1 The Trustee shall maintain such books, records and accounts as may be necessary for the proper administration of the Trust assets, including such specific records as shall be agreed upon in writing by the Company and the Trustee. Within 60 days following the close of each Plan Year calendar year that includes or commences after the date of this Trust Agreement until the termination of this Trust or the removal or resignation of the Trustee (and within 60 days after the date of such termination, removal or resignation), the Trustee shall render to the Company and, on or after the date on which the Trust has become irrevocable, the Executives an accounting with respect to the Trust assets as of the end of the then most recent Plan Year calendar year (and as of the date of such termination, removal or resignation, as the case may be). The Trustee shall furnish to the Company on a quarterly an annual basis (or as the Company shall direct from time to time) and in a timely manner such information regarding the Trust as the Company shall require for purposes of preparing its statements of financial condition. Upon the written request of the Company or, on or after the date on which the Trust has become irrevocable, the Fiduciaryan Executive, the Trustee shall deliver to the Fiduciary such Executive or the Company, as the case may be, a written report setting forth the amount held in the Trust and a record of the deposits made with respect thereto by the Company. Absent compelling circumstances, the Trustee shall not be required to respond to more than one such request made within any calendar year. Unless the Company or the Fiduciary any Executive shall have filed with the Trustee written exception or objection to the statement and account furnished by the Trustee within 90 days after receipt thereof, the Company and the Trust Beneficiaries shall be deemed to have approved such statement and account, and in such case the Trustee shall be forever released and discharged with respect to all matters and things reported in such statement and account as though it had been settled by a decree of a court of competent jurisdiction in an action or proceeding to which the Company and the Participants Trust Beneficiaries were parties.

Accounting by Trustee. 7.1 The Trustee shall maintain such books, records and accounts as may be necessary for the proper administration of the Trust assets, including such specific records as shall be agreed upon in writing by the Company and the Trustee. Within 60 days following the close of each Plan Year calendar year that includes or commences after the date of this Trust until the termination of this Trust or the removal or resignation of the Trustee (and within 60 days after the date of such termination, removal or resignation), the Trustee shall render to the Company an accounting with respect to the Trust assets as of the end of the then most recent Plan Year calendar year (and as of the date of such termination, removal or resignation, as the case may be). The Trustee shall furnish to the Company on a quarterly basis (or as the Company shall direct from time to time) and in a timely manner such information regarding the Trust as the Company shall require for purposes of preparing its statements of financial condition. The Trustee shall at all times maintain separate bookkeeping accounts for each Director as prescribed in Section 7.2 hereof, and, upon the written request of a Director, shall provide to the Director an annual statement of the Director’s account. Upon the written request of the Company or, on or after the date on which the Trust has become irrevocableof a Change of Control, the Fiduciarya Director, the Trustee shall deliver to the Fiduciary Company or the CompanyDirector, as the case may be, a written report setting forth the amount held in the Trust and a record of the deposits made with respect thereto to the Trust by the Company. Unless the Company or the Fiduciary any Director shall have filed with the Trustee written exception or objection to the any such statement and account furnished by the Trustee within 90 days after receipt thereof, the Company and the Trust Beneficiaries Directors shall be deemed to have approved such statement and account, and in such case case, the Trustee shall be forever released and discharged with respect to all matters and things reported in such statement and account as though it had been settled by a decree of a court of competent jurisdiction in an action or proceeding to which the Company and the Participants Directors were parties.

Accounting by Trustee. 7.1 VII.1 The Trustee shall maintain or cause to be maintained such books, records and accounts as may be necessary for the proper administration of the Trust assets, including such specific records as shall be agreed upon in writing by the Company and the Trustee. Within 60 days following the close of each Plan Year calendar year that includes or commences after the date of this Trust Agreement until the termination of this Trust or the removal or resignation of the Trustee (and within 60 days after the date of such termination, removal or resignation), the Trustee shall render or cause to be rendered to the Company and the Executive an accounting with respect to the Trust assets as of the end of the then most recent Plan Year calendar year (and as of the date of such termination, removal or resignation, as the case may be). The Trustee shall furnish or cause to be furnished to the Company on a quarterly monthly basis (or as the Company shall direct from time to time) and in a timely manner such information regarding the Trust as the Company shall require for purposes of preparing its statements of financial condition. The Trustee shall at all times maintain or cause to be maintained separate bookkeeping subaccounts for each Participant as prescribed by Section 7.2 hereof, and shall provide or cause to be provided quarterly statements of the subaccounts to each Participant. Upon the written request of the Company or, on or after the date on which the Trust has become irrevocable, the FiduciaryExecutive, the Trustee shall deliver or cause to be delivered to the Fiduciary Executive or the Company, as the case may be, a written report setting forth the amount held in the Trust Trust, the amount credited to each subaccount and a record of the deposits made with respect thereto by the Company. Absent compelling circumstances, the Trustee shall not be required to respond to more than one such request made within any calendar quarter. Unless the Company or the Fiduciary Executive shall have filed with the Trustee written exception or objection to the statement and account furnished by the Trustee within 90 days after receipt thereof, the Company and the Trust Beneficiaries shall be deemed to have approved such statement and account, and in such case the Trustee shall be forever released and discharged with respect to all matters and things reported in such statement and account as though it had been settled by a decree of a court of competent jurisdiction in an action or proceeding to which the Company and the Participants Trust Beneficiaries were parties.

Accounting by Trustee. 7.1 The Trustee shall maintain such books, records and accounts as may be necessary for the proper administration of the Trust assets, including such specific records as shall be agreed upon in writing by the Company and the Trustee. Within 60 days following the close of each Plan Year calendar year that includes or commences after the date of this the Trust until the termination of this the Trust or the removal or resignation of the Trustee (and within 60 days after the date of such termination, removal or resignation), the Trustee shall render to the Company an accounting with respect to the Trust assets as of the end of the then most recent Plan Year calendar year (and as of the date of such termination, removal or resignation, as the case may be). The Trustee shall furnish to the Company on a quarterly basis (or as the Company shall direct from time to time) and in a timely manner such information regarding the Trust as the Company shall require for purposes of preparing its statements of financial condition. The Trustee shall at all times maintain separate bookkeeping accounts for each Executive as prescribed in Section 7.2 hereof, and, upon the written request of an Executive, shall provide to the Executive an annual statement of the Executive's account. Upon the written request of the Company or, on or after the date on which the Trust has become irrevocableof a Change in Control, the Fiduciaryan Executive, the Trustee shall deliver to the Fiduciary Company or the CompanyExecutive, as the case may be, a written report setting forth the amount held in the Trust and a record of the deposits made with respect thereto to the Trust by the Company. Unless the Company or the Fiduciary any Executive shall have filed with the Trustee written exception or objection to the any such statement and account furnished by the Trustee within 90 days after receipt thereof, the Company and the Trust Beneficiaries Executives shall be deemed to have approved such statement and account, and in such case case, the Trustee shall be forever released and discharged with respect to all matters and things reported in such statement and account as though it had been settled by a decree of a court of competent jurisdiction in an action or proceeding to which the Company and the Participants Executives were parties.