Common use of Written Accounting Clause in Contracts

Written Accounting. Within 90 days following the close of each fiscal year of the Plan or the effective date of the removal or resignation of the Trustee, the Trustee shall file with the Plan Administrator a written accounting setting forth all transactions since the end of the period covered by the last previous accounting. The accounting shall include a listing of the assets of the Trust showing the value of such assets at the close of the period covered by the accounting. On direction of the Plan Administrator, and if previously agreed to by the Trustee, the Trustee shall submit to the Plan Administrator interim valuations, reports or other information pertaining to the Trust. The Plan Administrator may approve the accounting by written approval delivered to the Trustee or by failure to deliver written objections to the Trustee within 60 days after receipt of the accounting. Any such approval shall be binding on the Primary Employer, the Plan Administrator, the Investment Committee and, to the extent permitted by ▇▇▇▇▇, all other persons. If the Primary Employer provides to the Trustee written notice of its objections after the expiration of such 60-day period, then the Trustee shall use its reasonable best efforts to correct such inaccuracies or errors but the Primary Employer shall be fully responsible for all costs incurred in correcting such inaccuracies or errors.

Written Accounting. Within 90 days following the close of each fiscal year of the Plan or the effective date of the removal or resignation of the Trustee, the Trustee shall file with the Plan Administrator a written accounting setting forth all transactions since the end of the period covered by the last previous accounting. The accounting shall include a listing of the assets of the Trust showing the value of such assets at the close of the period covered by the accounting. On direction of the Plan Administrator, and if previously agreed to by the Trustee, the Trustee shall submit to the Plan Administrator interim valuations, reports or other information pertaining to the Trust. The Plan Administrator may approve the accounting by written approval delivered to the Trustee or by failure to deliver written objections to the Trustee within 60 days after receipt of the accounting. Any such approval shall be binding on the Primary Employer, the Plan Administrator, the Investment Committee and, to the extent permitted by ▇▇▇▇▇ERISA, all other persons. If the Primary Employer provides to the Trustee written notice of its objections after the expiration of such 60-day period, then the Trustee shall use its reasonable best efforts to correct such inaccuracies or errors but the Primary Employer shall be fully responsible for all costs incurred in correcting such inaccuracies or errors.