Common use of Judicial Settlement of Accounts Clause in Contracts

Judicial Settlement of Accounts. The Trustee can apply to a court of competent jurisdiction at any time for judicial settlement of any matter involving the Plan including judicial settlement of the Group Trustee's account. If it does so, the Trustee must give the Administrator the opportunity to participate in the court proceedings, but the Trustee can also involve other persons. Any expenses the Trustee incurs in legal proceedings involving the Plan, including attorney's fees, are chargeable to the Trust Fund as an administrative expense. Any judgment or decree which may be entered in such a proceeding, shall, subject to the provision of ERISA, be conclusive upon all persons having or claiming to have any interest in the Trust Fund or under any Plan.

Judicial Settlement of Accounts. The Trustee can may apply to a court of competent jurisdiction at any time for judicial settlement of any matter involving the Plan including judicial settlement of the Group Trustee's ’s account. If it does so, the Trustee must give the Plan Administrator the opportunity to participate in the court proceedings, but the Trustee can may also involve other persons. Any expenses the Trustee incurs in legal proceedings involving the Plan, including attorney's ’s fees, are chargeable to the Trust Fund as an administrative expense. Any judgment or decree which that may be entered in such a proceeding, shall, subject to the provision of ERISA, be conclusive upon all persons having or claiming to have any interest in the Trust Fund or under any Plan.