Trust Fund Accounting Sample Clauses

Trust Fund Accounting. (c) All contributions received by the Trustee and all other receipts of the Trustee, whether by way of dividends, interest or otherwise for the account of the Trust Fund, may be commingled, held, invested and, with all disbursements therefrom, accounted for by the Trustee as a single fund. All recordkeeping or valuation of the accounts of individual participants shall be the responsibility of a recordkeeper (the “Recordkeeper”) appointed by the Company. The Recordkeeper shall also perform such other functions as are specified in this Agreement. The Company shall notify the Trustee of the identity of the Recordkeeper upon the signing of this Agreement. Prior to a Change of Control, the Company shall be solely responsible for the appointment of a substitute Recordkeeper in the event that the Recordkeeper resigns or fails to perform its duties hereunder. Following a Change of Control, the Trustee shall be responsible for appointment of a Recordkeeper in the event that the Recordkeeper resigns or, in the judgment of the Trustee and after notice to the Participants known to it as of the Trustee’s appointment of a new Recordkeeper, the Recordkeeper fails to perform its duties hereunder, but, notwithstanding anything in this Agreement to the contrary, the Trustee shall assume no liability whatsoever on account of such appointment in good faith of a successor Recordkeeper, absent the Trustee’s negligent appointment of such successor Recordkeeper. The Trustee may rely conclusively on all information received from the Recordkeeper.
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Trust Fund Accounting. (a) All contributions received by the Trustee .and all other receipts of the Trustee, whether by way of dividends, interest or otherwise for the account of the Trust Fund, may be commingled, held, invested and, with all disbursements therefrom, by the Trustee as a single trust fund; provided, however, that the Trustee shall maintain, or provide such data or systems as needed by a recordkeeper appointed by the Company to maintain, records of the amount held with respect to each Plan. As for recordkeeping or valuation of the accounts of individual participants with respect to the Executive Savings Plan (or to the extent applicable, any other Plan), such recordkeeping shall be the responsibility of a recordkeeper appointed by the Company. The Company shall notify the Trustee of each recordkeeper’s identity upon the signing of this Agreement. The Company shall be solely responsible for the appointment of a substitute record-keeper in the event that the recordkeeper resigns or fails to perform its duties hereunder. The Trustee may rely conclusively on all information received from the recordkeeper appointed by the Company.
Sample 1
Trust Fund Accounting. 8.1 The Trustees shall keep accurate accounts relating to the Trust which shall be available at all reasonable times for inspection by the Settlor during his lifetime and thereafter for inspection by the parents or guardians in fact or in law, or committee, or any Beneficiary under the age of majority or under any other disability and by any adult Beneficiary.
Sample 1

Related to Trust Fund Accounting

  • Fund Accounting The Trustees may in their discretion from time to time enter into one or more contracts whereby the other party or parties undertakes to handle all or any part of the Trust’s accounting responsibilities, whether with respect to the Trust’s properties, Shareholders or otherwise.

  • Tax Accounting Except for Tax Returns described in paragraph 9 of Part 3 of this Exhibit A, Provider shall prepare, or cause to be prepared, all Tax Returns of the Company in accordance with Sections 7.5 and 7.6 of the LLC Agreement. Part 2: SCOPE OF ADMINISTRATIVE SERVICES

  • Custodial Accounts and Buydown Fund Accounts The Master Servicer shall cause to be established and maintained by each Servicer under the Master Servicer's supervision the Custodial Account for P&I, Buydown Fund Accounts (if any) and special Custodial Account for Reserves and shall deposit or cause to be deposited therein daily the amounts related to the Mortgage Loans required by the Selling and Servicing Contracts to be so deposited. Proceeds received with respect to individual Mortgage Loans from any title, hazard, or FHA insurance policy, VA guaranty, Primary Insurance Policy or other insurance policy (other than any Special Primary Insurance Policy) covering such Mortgage Loans, if required for the restoration or repair of the related Mortgaged Property, may be deposited either in the Custodial Account for Reserves or the Custodial Account for P&I. Such proceeds (other than proceeds from any Special Primary Insurance Policy), if not required for the restoration or repair of the related Mortgaged Property, shall be deposited in the Custodial Account for P&I, and shall be applied to the balances of the related Mortgage Loans as payments of interest and principal. The Master Servicer is hereby authorized to make withdrawals from and to issue drafts against the Custodial Accounts for P&I and the Custodial Accounts for Reserves for the purposes required or permitted by this Agreement. Each Custodial Account for P&I and each Custodial Account for Reserves shall bear a designation clearly showing the respective interests of the applicable Servicer, as trustee, and of the Master Servicer, in substantially one of the following forms:

  • Fiscal Year; Accounting The Company's fiscal year shall be the calendar year with an ending month of December.

  • Annual Accounting The Custodian shall, at least annually, provide the Depositor or Beneficiary (in the case of death) with an accounting of such Depositor's account. Such accounting shall be deemed to be accepted by the Depositor or the Beneficiary, if the Depositor or Beneficiary does not object in writing within 60 days after the mailing of such accounting statement.

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