Annual Valuation. After payment has been made into this standby trust fund, the trustee shall annually, at least thirty days before the anniversary date of receipt of payment into the standby trust fund, furnish to the grantor and to the state of Ohio a statement confirming the value of the trust. Any securities in the fund shall be valued at market value as of no more than sixty days before the anniversary date of the establishment of the fund. The failure of the grantor to object in writing to the trustee within ninety days after the statement has been furnished to the grantor and the state of Ohio shall constitute a conclusively binding assent by the grantor, barring the grantor from asserting any claim or liability against the trustee with respect to the matters disclosed in the statement.
Appears in 3 contracts
Samples: Escrow Agreement, Escrow Agreement, Escrow Agreement
Annual Valuation. After payment has been made into this standby trust fund, the trustee shall annually, at least thirty days before the anniversary date of receipt of payment into the standby trust fund, furnish to the grantor and to the state of Ohio a statement confirming the value of the trust. Any securities in the fund shall be valued at market value as of no more than sixty days before the anniversary date of the establishment of the fund. The failure of the grantor to object in writing to the trustee within ninety days after the statement has been furnished to the grantor and the state of Ohio shall constitute a conclusively binding assent by the grantor, barring the grantor from asserting any claim or liability against the trustee with respect to the matters disclosed in the statement.
Appears in 3 contracts
Samples: Escrow Agreement, Escrow Agreement, Escrow Agreement
