Common use of Reports to Beneficiaries and Others Clause in Contracts

Reports to Beneficiaries and Others. As soon as practicable after the end of each taxable year of the Trust on a timeline as though the Trust were a non-accelerated filer thereunder, the Managing Trustee shall file an annual report under cover of Form 10-K with the Commission showing the assets and liabilities of the Trust at the end of each calendar year and the receipts and disbursements of the Managing Trustee with respect to the Trust for such period covered by the report. The annual report will also describe the changes in the assets of the Trust and the actions taken by the Managing Trustee during such period covered by the report. The financial statements contained with in such annual report need not be audited but will be prepared on a liquidation basis in accordance with generally accepted accounting principles The Managing Trustee will also file periodic reports under cover of Form 8-K with the Commission whenever an event occurs for which a Form 8-K would have been required to be filed for the Trust or whenever, in the opinion of the Managing Trustee, any other material event relating to the Trust or its assets has occurred. The taxable year of the Trust shall end on December 31 of each year unless the Managing Trustee deems it advisable to establish some other date as the date on which the taxable year of the Trust shall end.

Reports to Beneficiaries and Others. As soon as practicable after the end of each taxable year of the Trust on a timeline as though and after the Trust were a non-accelerated filer thereundertermination of the Trust, the Managing Trustee Trustees shall file an annual submit a written report under cover of Form 10-K with and account to the Commission Beneficiaries showing (i) the assets and liabilities of the Trust at the end of each calendar such taxable year or upon termination and the receipts and disbursements of the Managing Trustee with respect to the Trust Trustees for such period covered by the report. The annual report will also describe the changes in the assets of the Trust and the actions taken by the Managing Trustee during such period covered by the report. The financial statements contained with in such annual report need not be audited but will taxable year or period, which account shall be prepared on a liquidation basis in accordance with generally accepted accounting principles The Managing Trustee will also file periodic reports but need not be certified by an independent certified public accountant, (ii) any changes in the Trust Assets which they have not previously reported, and (iii) any action taken by the Trustees in the performance of their duties under this Agreement which they have not previously reported and which, in their opinion, materially affects the Trust Assets. In addition any written report shall provide a narrative description, in reasonable detail, of the status of each material holding of Investment Securities of the Trust or any Trust Subsidiary. Such annual report shall be filed with the SEC under cover of Form 810-K with using the Commission whenever an event occurs for which a Form 8-K would have been required to be filed for the Trust or whenever, in the opinion file number of the Managing TrusteeCompany, any other material event relating to the Trust or its assets has occurredextent required by applicable law. The Trustees may submit similar reports for such interim periods during the taxable year as they deem advisable. The taxable year of the Trust shall end on December 31 of each year unless the Managing Trustee deems Trustees in their sole discretion deem it advisable to establish some other date as the date on which the taxable year of the Trust shall endend and such other date is permitted under the Code and the Income Tax Regulations.