Annual Valuation. The Grantor and Trustee shall, annually, at least thirty (30) calendar days prior to the anniversary date of establishment of the Fund, furnish to the Grantor and to the Department a statement confirming the value of the Trust and the continuation of the Trust for the next 12-month period. Any securities in the Fund shall be valued at market value as of no more than sixty (60) calendar days prior to the anniversary date of establishment of the Fund. The failure of the Grantor to object in writing to the Trustee within ninety (90) calendar days after the statement has been furnished to the Grantor and the Department shall constitute a conclusively binding assent by the Grantor, barring the Grantor from asserting any claim or liability against the Trustee with respect to matters disclosed in the statement.
Appears in 4 contracts
Samples: Direct Oversight, Remediation Trust Fund Agreement, Trust Fund Agreement
