Common use of ANNUAL REPORT OF THE TRUSTEE Clause in Contracts

ANNUAL REPORT OF THE TRUSTEE. Within a reasonable period of time after the later of the Anniversary Date or receipt of the Employer contribution for each Plan Year, the Trustee shall furnish to the Employer and Administrator a written statement of account with respect to the Plan Year for which such contribution was made setting forth: (a) the net income, or loss, of the Trust Fund; (b) the gains, or losses, realized by the Trust Fund upon sales or other disposition of the assets; (c) the increase, or decrease, in the value of the Trust Fund; (d) all payments and distributions made from the Trust Fund; and (e) such further information as the Trustee and/or Administrator deems appropriate. The Employer, forthwith upon its receipt of each such statement of account, shall acknowledge receipt thereof in writing and advise the Trustee and/or Administrator of its approval or disapproval thereof. Failure by the Employer to disapprove any such statement of account within thirty (30) days after its receipt thereof shall be deemed an approval thereof. The approval by the Employer of any statement of account shall be binding as to all matters embraced therein as between the Employer and the Trustee to the same extent as if the account of the Trustee had been settled by judgment or decree in an action for a judicial settlement of its account in a court of competent jurisdiction in which the Trustee, the Employer and all persons having or claiming an interest in the Plan were parties; provided, however, that nothing herein contained shall deprive the Trustee of its right to have its accounts judicially settled if the Trustee so desires.

ANNUAL REPORT OF THE TRUSTEE. (a) Within a reasonable period of time after the later of the Anniversary Date or receipt of the Employer Employer's contribution for each Plan Year, the Trustee Trustee, or its agent, shall furnish to the Employer and Administrator a written statement of account with respect to the Plan Year for which such contribution was made setting forth: (a1) the net income, or loss, of the Trust Fund; (b2) the gains, or losses, realized by the Trust Fund upon sales or other disposition of the assets; (c3) the increase, or decrease, in the value of the Trust Fund; (d4) all payments and distributions made from the Trust Fund; and (e5) such further information as the Trustee and/or Administrator deems appropriate. . (b) The Employer, forthwith promptly upon its receipt of each such statement of account, shall acknowledge receipt thereof in writing and advise the Trustee and/or Administrator of its approval or disapproval thereof. Failure by the Employer to disapprove any such statement of account within thirty (30) days after its receipt thereof shall be deemed an approval thereof. The approval by the Employer of any statement of account shall be binding as to all matters embraced therein as between on the Employer and the Trustee as to all matters contained in the statement to the same extent as if the account of the Trustee had been settled by judgment or decree in an action for a judicial settlement of its account in a court of competent jurisdiction in which the Trustee, the Employer and all persons having or claiming an interest in the Plan were parties; provided. However, however, that nothing herein contained in this Section shall deprive the Trustee of its right to have its accounts judicially settled if the Trustee so desires.

ANNUAL REPORT OF THE TRUSTEE. Within a reasonable period of time after the later of the Anniversary Date or receipt of the Employer Employer's contribution for each Plan Year, the Trustee shall furnish to the Employer and Administrator a written statement of account with respect to the Plan Year for which such contribution was made setting forth: (a) the net income, or loss, of the Trust Fund; (b) the gains, or losses, realized by the Trust Fund upon sales or other disposition of the assets; (c) the increase, or decrease, in the value of the Trust Fund; (d) all payments and distributions made from the Trust Fund; and (e) such further information as the Trustee and/or Administrator deems appropriate. The Employer, forthwith upon its receipt of each such statement of account, shall acknowledge receipt thereof in writing and advise the Trustee and/or Administrator of its approval or disapproval thereof. Failure by the Employer to disapprove any such statement of account within thirty (30) days after its receipt thereof shall be deemed an approval thereof. The approval by the Employer of any statement of account shall be binding as to all matters embraced therein as between the Employer and the Trustee to the same extent as if the account of the Trustee had been settled by judgment or decree in an action for a judicial settlement of its account in a court of competent jurisdiction in which the Trustee, the Employer and all persons having or claiming an interest in the Plan were parties; provided, however, that nothing herein contained shall deprive the Trustee of its right to have its accounts judicially settled if the Trustee so desires.

ANNUAL REPORT OF THE TRUSTEE. (a) Within a reasonable period of time after the later of the Anniversary Date or receipt of the Employer contribution for each Plan Year, the Trustee Trustee, or its agent, shall furnish to the Employer and Administrator a written statement of account with respect to the Plan Year for which such contribution was made setting forth: (a1) the net income, or loss, of the Trust Fund; (b2) the gains, or losses, realized by the Trust Fund upon sales or other disposition of the assets; (c3) the increase, or decrease, in the value of the Trust Fund; (d4) all payments and distributions made from the Trust Fund; and (e5) such further information as the Trustee and/or Administrator deems appropriate. . (b) The Employer, forthwith promptly upon its receipt of each such statement of account, shall acknowledge receipt thereof in writing and advise the Trustee and/or Administrator of its approval or disapproval thereof. Failure by the Employer to disapprove any such statement of account within thirty (30) days after its receipt thereof shall be deemed an approval thereof. The approval by the Employer of any statement of account shall be binding as to all matters embraced therein as between on the Employer and the Trustee as to all matters contained in the statement to the same extent as if the account of the Trustee had been settled by judgment or decree in an action for a judicial settlement of its account in a court of competent jurisdiction in which the Trustee, the Employer and all persons having or claiming an interest in the Plan were parties; provided. However, however, that nothing herein contained in this Section shall deprive the Trustee of its right to have its accounts judicially settled if the Trustee so desires.

ANNUAL REPORT OF THE TRUSTEE. Within a reasonable period of time after the later of the Anniversary Date or receipt of the Employer Employer’s contribution for each Plan Year, the Trustee Trustee, or its agent, shall furnish to the Employer and Administrator a written statement of account with respect to the Plan Year for which such contribution was made setting forth: (a) the net income, or loss, of the Trust Fund; (b) the gains, or losses, realized by the Trust Fund upon sales or other disposition of the assets; (c) the increase, or decrease, in the value of the Trust Fund; (d) all payments and distributions made from the Trust Fund; and (e) such further information as the Trustee and/or Administrator deems appropriate. The Employer, forthwith upon its receipt of each such statement of account, shall acknowledge receipt thereof in writing and advise the Trustee and/or Administrator of its approval or disapproval thereof. Failure by the Employer to disapprove any such statement of account within thirty sixty (3060) days after its receipt thereof shall be deemed an approval thereof. The approval by the Employer of any statement of account shall be binding as to all matters embraced therein as between the Employer and the Trustee to the same extent as if the account of the Trustee had been settled by judgment or decree in an action for a judicial settlement of its account in a court of competent jurisdiction in which the Trustee, the Employer and all persons having or claiming an interest in the Plan were parties; provided, however, that nothing herein contained shall deprive the Trustee of its right to have its accounts judicially settled if the Trustee so desires.

ANNUAL REPORT OF THE TRUSTEE. a. Within a reasonable period of time after the later of the Anniversary Date last day of each Plan Year or receipt of the Employer Employer's contribution for each Plan Year, the Trustee Trustee, or its agent, shall furnish to the Employer and Plan Administrator a written statement of account with respect to the Plan Year for which such contribution was made setting forth: (a) i. the net income, or loss, of the Trust Fund; (b) ii. the gains, or losses, realized by the Trust Fund upon sales or other disposition of the assets; (c) iii. the increase, or decrease, in the value of the Trust Fund, and values shall be reported in accordance with the Trustee’s established reporting procedures, as may be amended from time to time; (d) iv. all payments and distributions made from the Trust Fund; and (e) v. such further information as the Trustee and/or Plan Administrator deems appropriate. . b. The EmployerPlan Administrator, forthwith promptly upon its receipt of each such statement of account, shall acknowledge receipt thereof in writing and advise the Trustee and/or Administrator of its approval or disapproval thereof. Failure by the Employer Plan Administrator to disapprove any such statement of account within thirty (30) days after its receipt thereof shall be deemed an approval thereof. The approval by the Employer Plan Administrator of any statement of account shall be binding as to all matters embraced therein as between on the Employer and the Trustee as to all matters contained in the statement to the same extent as if the account of the Trustee had been settled by judgment or decree in an action for a judicial settlement of its account in a court of competent jurisdiction in which the Trustee, the Employer and all persons having or claiming an interest in the Plan were parties; provided. However, however, that nothing herein contained in this Section shall deprive the Trustee of its right to have its accounts judicially settled if the Trustee so desires, and the cost, including attorneys’ fees, of any such action shall be a charge against the Trust and may be paid from the Trust as provided in this Plan and Trust Agreement, provided that the Trustee shall provide the Employer with prior written notice (to the extent practicable, and to the extent not practicable as soon as reasonably practicable) before instituting such an action or consulting attorneys with respect to the same.