Valuation of Trust Assets. After the Effective Date, but in no event later than the due date for timely filing of the Trust’s first federal income tax return (taking into account applicable tax filing extensions), the Trustee shall (a) determine the fair market value of the Trust Assets as of the Effective Date, based on his good faith determination, (b) advise the Oversight Committee of such valuation and (c) establish appropriate means to apprise the Beneficiaries of such valuation. The valuation shall be used consistently by all parties (including, without limitation, the Debtors, the Trust, the Trustee and the Beneficiaries) for all federal income tax purposes.
Valuation of Trust Assets. 3 1.7 Surviving Debtor Entities and Insurance Company Subsidiaries.....4
Valuation of Trust Assets. From time to time as necessary, the Liquidating Trustee shall in good faith determine the fair market value of the Trust Assets and any other Assets transferred to the Liquidating Trust and thereafter apprise the Trust Advisory Board and the Trust Holders of Record in writing regarding such valuation. Any such valuation shall be used consistently by all parties (including, without limitation, the Debtors, the Liquidating Trustee and the Trust Holders) for all purposes, including United States federal income tax purposes.
Valuation of Trust Assets. As soon as reasonably practicable after the Effective Date, the Trustee (in consultation with the Trust Committee) will determine the fair market value of the Trust Assets (other than Cash) as of the Effective Date, based on a good faith determination and the advice of any professional retained by the Trustee for such purpose, and the Chapter 11 Trustee and the Trust shall use such value consistently for all federal income tax purposes.
Valuation of Trust Assets. Trustee shall determine the fair market value of the assets of the Trust as of each Valuation Date. In determining the “net” fair market value of the assets of the Trust, Trustee shall deduct from the fair market value of such assets all payables, accrued expenses, fees, and other liabilities properly chargeable against the Trust.
Valuation of Trust Assets. Net Earnings of the Fund shall be computed by the Trustee’s agent (as designated in writing by the Trustee) as of each Valuation Date and the agent’s good faith decision as to the value of the Fund and the Net Earnings and adjustments thereof shall be final, conclusive and binding upon all Participants and Beneficiaries. If Employer Stock held in the Trust is not “readily tradable on an established securities market” (as defined in Section 24.01), and to the extent applicable, all valuations of Employer Stock acquired by or contributed to the Plan with respect to the activities carried on by the Plan shall be performed by an independent appraiser. For the purposes of the preceding sentence, the term “independent appraiser” means any appraiser meeting the requirements of Section 401(a)(28)(C) of the Code.
Valuation of Trust Assets. No later than 180 days following the Effective Date, the Liquidating Trustee shall, in consultation with the Trust Committee, determine the fair market value of each Trust Asset other than Cash based on a good faith determination and the advice of any professional retained by the Liquidating Trustee for such purpose. The Liquidating Trustee shall then, as soon as reasonably possible after such determination, notify each Beneficiary of the value of such holder’s interest in the Liquidating Trust. The Liquidating Trustee and the Beneficiaries shall use such values consistently for all federal income tax purposes.
Valuation of Trust Assets. As soon as possible after the date of this Agreement but in no event later than ninety (90) days thereafter, the Trustee shall obtain a complete valuation of the Trust Assets transferred to the Trust, and such valuation shall be used consistently by the Trustee, the Debtor and the Beneficiaries for all federal income tax purposes. Thereafter, the Trustee must obtain consistent valuations of the assets, pursuant to Revenue Procedure 94-45, 1994-28 I.R.B.124. LFC/LMUSA JOINT LITIGATION TRUST AGREEMENT 21 ARTICLE 7
Valuation of Trust Assets. A. Notwithstanding any other provisions of this Article, and consistent with paragraph N(2) of Section 2.1, if the Trustee shall determine that the Trust consists in whole or in part of property not traded freely on a recognized market, or that information necessary to ascertain the Fair Market Value thereof is not readily available to the Trustee, the Trustee may request the Committee to require an appraisal to be made by an independent appraiser satisfactory to the Committee and the Trustee. The value placed upon such property by the appraiser engaged by the Committee shall be conclusive and binding on all parties with an interest herein, provided, however, that the Committee shall provide all valuations of Employer Securities by an independent appraiser.
B. If the Committee shall fail or refuse to engage an independent appraiser within a reasonable time after receipt of the Trustee's request to do so, the Trustee may engage a competent appraiser to fix the fair market value of such property for all purposes hereunder. The determination of any such appraiser as to the fair market value of such property shall be conclusive on all interested parties and the Trustee shall have no liability in connection therewith.
C. The reasonable fees and expenses incurred for any such appraisal shall be paid by the Trustee out of the Trust, or at the option of the Employer, by the Employer.
Valuation of Trust Assets. The Trustee or Bankruptcy Court, upon motion filed, may value the property vested in the Trust and notify in writing the Trust Beneficiaries of such valuations. The Trust Assets shall be valued consistently by the Trustee and the Trust Beneficiaries and these valuations will be used for all federal income tax purposes.
