Common use of Settlement of Accounts Clause in Contracts

Settlement of Accounts. The Trustee shall keep full accounts of all of its receipts and disbursements. The Trustee's books and records with respect to the Trust Fund shall be open to inspection by the Company, the Committee, or their representatives at all times during business hours of the Trustee. The Trustee shall use its best efforts to prepare, sign and mail to the Company and the Committee within sixty days (but in no event more than ninety days) after December31 of each year (or such other date as may be agreed to by the Company and the Trustee), or any termination of the duties of the Trustee, an account of its acts and transactions as Trustee hereunder. If, within one year after the mailing of the account or any amended account, the Company and the Committee have not filed with the Trustee notice of any objection to any act or transaction of the Trustee, the account or amended account shall become an account stated. If any objection has been filed, and if the objecting party is satisfied that it should be withdrawn or if the account is adjusted to the objecting party's satisfaction, the objecting party shall in writing signify to the Trustee its approval of the account and it shall become an account stated. When an account becomes an account stated, such account shall be finally settled absent manifest error, and the Trustee shall be completely discharged and released, as if such account had been settled and allowed by a judgment or decree of a court of competent jurisdiction in an action or proceeding in which the Trustee, the Company and the Committee were parties. The Trustee, the Company or the Committee shall have the right to apply at any time to a court of competent jurisdiction for judicial settlement of any account of the Trustee not previously settled as hereinabove provided. In any such action or proceeding it shall be necessary to join as parties the Trustee, the Company, and the Committee and any judgment or decree entered therein shall be conclusive upon all such parties.

Settlement of Accounts. The Trustee shall keep full accounts of all of its receipts and disbursements. The Trustee's Its books and records with respect to the Trust Fund shall be open to inspection by the CompanyEmployer, the Committee, any Participant or any Beneficiary of a deceased Participant or their representatives at all times during business hours of the Trustee. The Trustee shall use its best efforts to prepare, sign and mail to the Company and the Committee within Within sixty days (but in no event more than ninety days) after December31 of each year (or such other date as may be agreed to by the Company and the Trustee)year, or any termination of the duties of the Trustee, the Trustee shall prepare, sign and mail to the Employer and the Administrator an account of its acts and transactions as Trustee hereunder. If, within one year sixty days after the mailing of the account or any amended account, the Company Employer and the Committee Administrator have not filed with the Trustee notice of any objection to any act or transaction of the Trustee, the account or amended account shall become an account stated. If any objection has been filed, and if the objecting party is satisfied that it should be withdrawn or if the account is adjusted to the objecting party's satisfaction, the objecting party shall in writing signify to filed with the Trustee signify its approval of the account and it shall become an account stated. When an account becomes an account stated, such account shall be finally settled absent manifest errorsettled, and the Trustee shall be completely discharged and released, as if such account had been settled and allowed by a judgment or decree of a court of competent jurisdiction in an action or proceeding in which the Trustee, the Company Employer and the Committee Administrator were parties. The Trustee, the Company Employer or the Committee Administrator shall have the right to apply at any time to a court of competent jurisdiction for judicial settlement of any account of the Trustee not previously settled as hereinabove provided. In any such action or proceeding it shall be necessary to join as parties the Trustee, the Company, Employer and the Committee Administrator and any judgment or decree entered therein shall be conclusive upon all such parties.

Settlement of Accounts. The Trustee shall keep full accounts of all of its receipts and disbursements. The Trustee's books and records with respect to the Trust Fund shall be open to inspection by the Company, the Committeeany Member, or any Beneficiary of a deceased Member, or their representatives at all times during business hours of the Trustee. The Trustee shall use its best efforts to prepare, sign and mail to the Company and the Committee within Within sixty days (but in no event more than ninety days) after December31 December 31 of each year (or such other date as may be agreed to by the Company and the Trustee), or any termination of the duties of the Trustee, the Trustee shall prepare, sign and mail to the Company and the Committee an account of its acts and transactions as Trustee hereunder. If, within one year sixty days after the mailing of the account or any amended account, the Company and the Committee have not filed with the Trustee notice of any objection to any act or transaction of the Trustee, the account or amended account shall become an account stated. If any objection has been filed, and if the objecting party is satisfied that it should be withdrawn or if the account is adjusted to the objecting party's satisfaction, the objecting party shall in writing signify to filed with the Trustee signify its approval of the account and it shall become an account stated. When an account becomes an account stated, such account shall be finally settled absent manifest errorsettled, and the Trustee shall be completely discharged and released, as if such account had been settled and allowed by a judgment or decree of a court of competent jurisdiction in an action or proceeding in which the Trustee, the Company and the Committee were parties. The Trustee, the Company or the Committee shall have the right to apply at any time to a court of competent jurisdiction for judicial settlement of any account of the Trustee not previously settled as hereinabove provided. In any such action or proceeding it shall be necessary to join as parties the Trustee, the Company, Company and the Committee and any judgment or decree entered therein shall be conclusive upon all such parties.

Settlement of Accounts. The Within 60 days after the close of each ---------------------- calendar year, and within 60 days after the removal or resignation of the Trustee or the termination of the Trust, the Trustee shall keep full accounts file with the Company a written account setting forth all investments, receipts, disbursements and other transactions effected by it during the preceding calendar year, or during such period from the close of the prior calendar year, to the date of such removal, resignation, or termination, including a description of all investments and securities purchased and sold, with the cost or net proceeds of its receipts such purchases or sales, and disbursementsshowing all cash, securities, and other property held at the end of such calendar year or other period. The Trustee's books and records with respect to the Trust Fund Each account so filed shall be open to inspection by at the Company, office of the Committee, or their representatives at all times Trustee during normal business hours of the Trustee. The Trustee shall use its best efforts to prepare, sign and mail to the Company and the Committee within sixty days (but in no event more than ninety days) after December31 of each year (or such other date as may be agreed to by the Company and the Trustee), or by any termination person appointed in writing by a majority of the duties Participants identified in the last preceding annual accrued benefit information provided to the Trustee pursuant to Section 4.4(c). For purposes of any such appointment, each Participant shall have one "vote", irrespective of how many of the TrusteePlans he participates in, an account and multiple beneficiaries of its acts and transactions a single deceased Participant shall share one vote. (Hereinafter, such person, if any is so appointed, is referred to as Trustee hereunder. If, "the Participant's representative".) If within one year 90 days after the mailing filing of the such account or any amended account, neither the Company and nor the Committee have not Participants' representative, if any, has filed with the Trustee notice of any objection to any act or transaction of the Trustee, the account or amended initial account shall become an account statedstated as between the Trustee, the Company, and all persons having or claiming to have an interest in the Trust Fund. If any objection has been filed, and if the objecting party Company or the Participants' representative who filed such objection is satisfied that it should be withdrawn or if the account is adjusted to the objecting party's satisfactionwithdrawn, the objecting party shall in writing signify to filed with the Trustee signify its approval of the account account, and it shall become an account stated. When an account becomes an account stated, such account shall be finally settled absent manifest error, and the Trustee shall be completely discharged and released, stated as if such account had been settled and allowed by a judgment or decree of a court of competent jurisdiction in an action or proceeding in which the Trustee, the Company and the Committee were parties. The Trustee, the Company or the Committee shall have the right to apply at any time to a court of competent jurisdiction for judicial settlement of any account of the Trustee not previously settled as hereinabove provided. In any such action or proceeding it shall be necessary to join as parties between the Trustee, the Company, and all persons having or claiming to have an interest in the Committee Trust Fund. If the account is adjusted following an objection thereto, the Trustee shall file with the Company and make available for inspection by the Participants' representative the adjusted account, and if within 30 days after such filing of an adjusted account neither the Company nor the Participants' representative, if any, has filed with the Trustee notice of any judgment objection to the transactions as so adjusted, the adjusted account shall become an account stated as between the Trustee, the Company, and all persons having or decree entered therein claiming to have an interest in the Trust Fund. When an account is stated it shall be conclusive upon finally settled, and the Trustee shall, to the maximum extent permitted by applicable law, be forever released and discharged from all liability and accountability with respect to the propriety of its acts and transactions shown in such partiesaccount.

Settlement of Accounts. The Trustee shall keep full accounts of all of its receipts and disbursements. The Trustee's Its books and records with respect to the Trust Fund shall be open to inspection by the Company, the Committee, any Member or any Beneficiary of a deceased Member or their representatives at all times during business hours of the Trustee. The Trustee shall use its best efforts to prepare, sign and mail to the Company and the Committee within Within sixty days (but in no event more than ninety days) after December31 of each the Company's fiscal year (or such other date as may be agreed to by the Company and the Trustee)end, or any termination of the duties of the Trustee, the Trustee shall prepare, sign and mail to the Company and the Plan Administrator an account of its acts and transactions as Trustee hereunder. If, within one year sixty days after the mailing of the account or any amended account, the Company and the Committee Plan Administrator have not filed with the Trustee notice of any objection to any act or transaction of the Trustee, the account or amended account shall become an account stated. If any objection has been filed, and if the objecting party is satisfied that it should be withdrawn or if the account is adjusted to the objecting party's satisfaction, the objecting party shall in writing signify to filed with the Trustee signify its approval of the account and it shall become an account stated. When an account becomes an account stated, such account shall be finally settled absent manifest errorsettled, and the Trustee shall be completely discharged and released, as if such account had been settled and allowed by a judgment or decree of a state or federal court of competent jurisdiction in an action or proceeding in which the Trustee, the Company and the Committee Plan Administrator were parties. The Trustee, the Company or the Committee Plan Administrator shall have the right to apply at any time to a state or federal court of competent jurisdiction for judicial settlement of any account of the Trustee not previously settled as hereinabove provided. In any such action or proceeding it shall be necessary to join as parties the Trustee, the Company, and the Committee and any judgment or decree entered therein shall be conclusive upon all such parties.shall

Settlement of Accounts. The Subject to the confidentiality requirements of Subsections 7.1 and 7.2, within 10 days after the close of each calendar quarter, and within 60 days after the removal or resignation of the Trustee or the termination of the Trust (or any portion thereof), the Trustee shall keep full accounts of file with the Company a written account setting forth all of its receipts investments, receipts, disbursements and disbursements. The Trustee's books and records other transactions effected by it with respect to the Trust Fund during the preceding calendar quarter or during the period from the close of the preceding calendar quarter to the date of such removal, resignation or termination, including a description of all investments and securities purchased and sold, with the cost or net proceeds of such purchases or sales, and showing all cash, securities and other property, and the value thereof, held at the end of such calendar quarter or other period. It shall be open the duty of the Company to inspection by review such written account promptly within 90 days from the Companydate of filing any such account and if, within such 90-day period, the Committee, or their representatives at all times during business hours Company does not file with the Trustee a written notice of objection to any of the Trustee's acts or transactions, the initial account shall become an account stated between the Trustee and the Company. The Trustee shall use its best efforts to prepare, sign and mail to If the Company and files a written notice of objection with the Committee within sixty days (but in no event more than ninety days) after December31 of each year (or such other date as Trustee, the Trustee may be agreed to by file with the Company and an adjusted account, in which case it shall be the Trustee), or any termination duty of the duties Company to review such adjusted account promptly within 30 days from the date of its filing. If, within such 30-day period, the Company fails to file a written notice of objection to any of the Trustee's acts or transactions as so adjusted with the Trustee, the adjusted account shall become an account stated between the Trustee and the Company. Unless an account is fraudulent, when it becomes an account stated it shall be finally settled, and the Trustee shall, to the maximum extent permitted by applicable law, be forever released and discharged from all liability and accountability with respect to the propriety of its acts and transactions as Trustee hereunder. If, within one year after the mailing of the account or any amended shown in such account, the Company and the Committee have not filed with the Trustee notice of any objection to any act or transaction of the Trustee, the account or amended account shall become an account stated. If any objection has been filed, and if the objecting party is satisfied that it should be withdrawn or if the account is adjusted to the objecting party's satisfaction, the objecting party shall in writing signify to the Trustee its approval of the account and it shall become an account stated. When an account becomes an account stated, such account shall be finally settled absent manifest error, and the Trustee shall be completely discharged and released, as if such account had been settled and allowed by a judgment or decree of a court of competent jurisdiction in an action or proceeding in which the Trustee, the Company and the Committee were parties. The Trustee, the Company or the Committee shall have the right to apply at any time to a court of competent jurisdiction for judicial settlement of any account of the Trustee not previously settled as hereinabove provided. In any such action or proceeding it shall be necessary to join as parties the Trustee, the Company, and the Committee and any judgment or decree entered therein shall be conclusive upon all such parties.