Common use of Accounting; Reports to the Beneficiaries, the Internal Revenue Service and Others Clause in Contracts

Accounting; Reports to the Beneficiaries, the Internal Revenue Service and Others. The Management Trustee shall cause (i) to be maintained the books of the Trust on a calendar year basis in accordance with generally accepted accounting principles (“GAAP”) or some other comprehensive basis of accounting, consistently applied, (ii) to be delivered to the Beneficiaries a statement in such form and containing such information as is required under the Code or Applicable Law to enable the Beneficiaries to prepare their federal and state income tax returns, (iii) to be filed such tax returns as the Trust may be required to file (if any) and make any appropriate elections as may be desired or required under Applicable Law, and (iv) to be mailed to the Beneficiaries copies of tax returns of the Trust (if any) if required by Applicable Law.