VALUATION OF THE TRUST FUND. The Administrator shall direct the Trustee, as of each Valuation Date, to determine the net worth of the assets comprising the Trust Fund as it exists on the Valuation Date. In determining such net worth, the Trustee shall value the assets comprising the Trust Fund at their fair market value as of the Valuation Date and shall deduct all expenses for which the Trustee has not yet obtained reimbursement from the Employer or the Trust Fund.
VALUATION OF THE TRUST FUND. The Administrator shall direct the Trustee, as of each Valuation Date, to determine the net worth of the assets comprising the Trust Fund as it exists on the Valuation Date. In determining such net worth, the Trustee shall value the assets comprising the Trust Fund at their fair market value (or their contractual value in the case of a Contract or Policy) as of the Valuation Date and may deduct all expenses for which the Trustee has not yet been paid by the Employer or the Trust Fund. The Trustee may update the value of any shares held in a Participant Directed Account by reference to the number of shares held on behalf of the Participant, priced at the market value as of the Valuation Date.
VALUATION OF THE TRUST FUND. As of each Valuation Date, the Trustee shall determine the fair market value of the Trust Fund, and the net earnings or losses and expenses of the Trust Fund for the period elapsed since the most recent previous Valuation Date shall be allocated among the Accounts of Participants. Earnings, losses and expenses which pertain to investments which are specifically held for a given Participant's Account shall be allocated solely to that Account. In the event that an investment is not specifically held for a given Participant's Account, the earnings, losses and expenses pertaining to that investment shall be allocated among all Participants' Accounts in the ratio that each such Account bears to the total of all Accounts of all Participants. Each Participant's Accounts shall be adjusted pursuant to this Section 13.4 until such time as they are either fully distributed or forfeited, regardless of whether the Participant continues to be an Employee.
VALUATION OF THE TRUST FUND. The Trustee shall value the assets of the Trust Fund on each Valuation Date. In making such valuation, the Trustee shall take into account earnings or losses of the Trust Fund, net of reasonable expenses, and capital appreciation or depreciation in such assets whether or not realized. The method of valuation shall be determined by the Trustee and shall be followed with reasonable consistency from Valuation Date to Valuation Date.
VALUATION OF THE TRUST FUND. (a) As of each Valuation Date, the Trustee shall determine the net worth of the assets of the Fund, and report such value to the Board in writing. In determining such net worth, the Trustee shall evaluate the assets of the Fund at their fair market value as of such Valuation Date and shall deduct all expenses chargeable to the Fund. Any increase or decrease in the net worth of the assets of the Fund shall be allocated as of each Valuation Date among the Executive Accounts established as a part of the Fund in the manner specified by the Board.
(b) In determining and valuing the assets and liabilities of the Fund for any purpose, securities held in the Fund shall be valued at their last published sale price on the Valuation Date. If no sale price shall have been reported on the Valuation Date, or if a security is listed on two or more exchanges, or if any irregularity occurs, the Trustee shall make a determination of value within the custom and practice at such time and will so advise the Board as to its method of valuation.
VALUATION OF THE TRUST FUND. 61 3.15 VALUATION OF PARTICIPANT'S ACCOUNT . . . . . . . . . . . . . . . . . . . . . . . . . .61 3.16 ALLOCATION. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61 3.17
VALUATION OF THE TRUST FUND. The Trustee as of the last day of each Plan Year shall determine the net worth of the assets of the Trust Fund at the fair market value of the assets as of the Valuation Date and report such value to the Plan Administrator in writing. Such valuation shall not include any contribution made by the Employer as of such Valuation Date.
VALUATION OF THE TRUST FUND. The Administrator shall direct the Trustee (or Insurer), as of each Valuation Date, to determine the net worth of the assets comprising the Trust Fund as it exists on the Valuation Date. In determining such net worth, the Trustee (or Insurer) shall value the assets comprising the Trust Fund at their fair market value as of the Valuation Date and may deduct all expenses for which the Trustee (or Insurer) has not yet been paid by the Employer or the Trust Fund. The Trustee (or Insurer), when determining the net worth of the assets, may update the value of any shares held in a Participant Directed Account by reference to the number of shares held on behalf of the Participant, priced at the market value as of the Valuation Date.
VALUATION OF THE TRUST FUND. The Trustee shall determine the fair market value or fair value of securities or other property held in the Trust Fund based upon one or more of the following: information and financial publications of general circulation, statistical and valuation services, records of security exchanges, appraisals by qualified Persons, transactions and bona fide offers in assets of the type in question, valuations provided by Investment Managers, valuations provided by the insurance company or custodian holding custody of assets described in clause (v)(B) of Section 4(b), and other information customarily used in the valuation of property. The Trustee may retain one or more reputable pricing services (whether or not affiliated with the Trustee) as the Trustee may deem advisable and the Trustee shall be entitled to rely upon the prices so provided. The Trustee, upon written request by the Sponsor, shall provide information to the Sponsor concerning the qualifications of such pricing services. Provided that the Trustee acts with the care, skill, prudence and diligence that a prudent person acting in a like capacity and familiar with such matter would exercise in selecting such a pricing service, the Trustee shall not be responsible or liable for any act or omission of such pricing service. An
VALUATION OF THE TRUST FUND. On each Valuation Date, the Trustee will determine the net worth of the Trust Fund. The fair market value of securities listed on a registered stock exchange will be the prices at which they were last traded on such exchange preceding the close of business on the Valuation Date. If the securities were not traded on the Valuation Date, or if the exchange on which they are traded was not open for business on the Valuation Date, then the securities will be valued at the prices at which they were last traded prior to the Valuation Date. Any unlisted security will be valued at its bid price next preceding the close of business on the Valuation Date, which bid price will be obtained from a registered broker or an investment banker. To determine the fair market value of assets other than securities for which trading or bid prices can be obtained, the Trustee may use any reasonable method tc determine the value of such assets, or may elect to employ one or more appraisers for that purpose and rely on the values established by such appraiser or appraisers.
