Valuation of the Fund. For the purposes of calculating the Minimum Amount for a year, the value of the Fund at the beginning of a year will be equal to the value of the Fund as at the close of business on the last business day of the Trustee in the immediately preceding year.
Valuation of the Fund. The value of the Fund (the "Value") as of the close of business on a particular date (the "Valuation Date") shall be determined by us by valuing the property of the Fund at market value (as determined by us) and deducting there from any amounts which are deemed by us in our sole discretion to be properly chargeable to the Fund as of the Valuation Date. The Value of the Fund as determined by us pursuant to this paragraph shall be conclusive and binding on all parties interested in the Fund. For the purposes of calculating the minimum amount under the Fund for a year, the Value of the Fund at the beginning of a year will be equal to the Value of the Fund as at the close of our last business day of the preceding year.
Valuation of the Fund. (a) Not less frequently than annually, the Trustee shall determine the net worth of the assets of the Fund and report such value to the Commission in writing. In determining such net worth, the Trustee shall evaluate the assets of the Fund at their fair market value as of such date and shall deduct all expenses chargeable to the Fund. Notwithstanding the foregoing, to the extent the assets of the Fund are invested in separate investment media, the Trustee shall administer separately and account for separately each such investment medium.
