Common use of Participant Account Records Clause in Contracts

Participant Account Records. The Program Sponsor shall maintain such accurate and detailed records of the Participant Account, including all Contributions, other receipts, investments, distributions, other disbursements and all other transactions in each Custodial Account on behalf of the Participant. The Program Sponsor shall provide a written confirmation to the Participant of each transaction in the Participant Account as required by applicable law. The Program Sponsor shall regularly furnish to the Custodian, on an agreed upon schedule and format, detailed statements of the Participant’s Account, showing Contributions, investment earnings, redemption or distributions made from the Account for any reason, and any fees, benefits or withdrawals paid therefrom. The Program Sponsor shall provide to each Participant, at least once during each quarter in the calendar year, a report of all transactions with respect to the Participant Account during the period since that covered by the previous report to the Participant with respect to their Account, if any, and, if required by applicable law or requested by the Participant, a statement showing the assets held in the Participant Account as of the end of the calendar year. Upon the expiration of sixty days after such report or statement is rendered, the Program Sponsor, Custodian, and the agents of each shall be forever released and discharged from all liability and accountability to anyone with respect to transactions shown in or reflected by such report or statement except with respect to any such acts or transaction as to which the Participant shall have filed a written objection with the Program Sponsor within such sixty-day period.

Participant Account Records. The Program Sponsor shall maintain such accurate and detailed records of the Participant Account, including all Contributions, other receipts, investments, distributions, other disbursements and all other transactions in each Custodial Account on behalf of the Participant. The Program Sponsor shall provide a written confirmation to the Participant of each transaction in the Participant Account as required by applicable law. The Program Sponsor shall regularly furnish to the Custodian, on an agreed upon schedule and format, detailed statements of the Participant’s Account, showing Contributions, investment earnings, redemption or distributions made from the Account for any reason, and any fees, benefits or withdrawals paid therefrom. The Program Sponsor shall provide mail to each Participant, at least once during each quarter in the calendar year, a report of all transactions with respect to the Participant Account during the period since that covered by the previous report to the Participant with respect to their Account, if any, and, if required by applicable law or requested by the Participant, a statement showing the assets held in the Participant Account as of the end of the calendar year. Upon the expiration of sixty days after such report or statement is rendered, the Program Sponsor, Custodian, and the agents of each Sponsor shall be forever released and discharged from all liability and accountability to anyone with respect to transactions shown in or reflected by such report or statement except with respect to any such acts or transaction as to which the Participant shall have filed a written objection with the Program Sponsor within such sixty-day period.