Common use of Reports of the Custodian and Administrator Clause in Contracts

Reports of the Custodian and Administrator. (a) The Custodian shall keep accurate and detailed records of all receipts, investments, disbursements and other transactions required to be performed hereunder. Not later than sixty (60) days after the close of each calendar year (or after the Custodian's resignation or removal), the Custodian shall file with the Employer a written report reflecting the receipts, disbursements and other transactions effected by it during such year (or period ending with such resignation or removal) and the assets of this Plan at its close. Such report shall be open to inspection by any Participant for a period of thirty (30) days immediately following the date on which it is filed with the Employer. Upon the expiration of such thirty (30) day period, the Custodian shall be forever released and discharged from all liability and accountability to anyone with respect to its acts, transactions, duties, obligations or responsibilities as shown in or reflected by such report, except with respect to any such acts or transactions as to which the Employer shall have filed written objections with the Custodian within such thirty (30) day period. (b) Annual reports provided to the Employer by the Custodian shall be, in the Custodian's discretion, on a calendar year basis unless otherwise required by law. The Employer shall compute the valuation of all Plan assets at least annually at the fair market value as of the last day of each calendar year. (c) The Custodian shall keep such records, make such identifications and file such returns and other information concerning the Plan as may be required of the Custodian under the Code or forms adopted thereunder. (d) The Administrator shall be solely responsible for the filing of any reports or information required under the Code or forms adopted thereunder.

Reports of the Custodian and Administrator. (a) The Custodian shall keep accurate and detailed records of all receipts, investments, disbursements and other transactions required to be performed hereunder. Not later than sixty (60) days after the close of each calendar year (or after the Custodian's resignation or removal), the Custodian shall file with the Employer a written report reflecting the receipts, disbursements and other transactions effected by it during such year (or period ending with such resignation or removal) and the assets of this Plan at its close. Such report shall be open to inspection by any Participant for a period of thirty (30) days immediately following the date on which it is filed with the Employer. Upon the expiration of such thirty (30) day period, the Custodian shall be forever released and discharged from all liability and accountability to anyone with respect to its acts, transactions, duties, 48 obligations or responsibilities as shown in or reflected by such report, except with respect to any such acts or transactions as to which the Employer shall have filed written objections with the Custodian within such thirty (30) day period. (b) Annual reports provided to the Employer by the Custodian shall be, in the Custodian's discretion, on a calendar year basis unless otherwise required by law. The Employer shall compute the valuation of all Plan assets at least annually at the fair market value as of the last day of each calendar year. (c) The Custodian shall keep such records, make such identifications and file such returns and other information concerning the Plan as may be required of the Custodian under the Code or forms adopted thereunder. (d) The Administrator shall be solely responsible for the filing of any reports or information required under the Code or forms adopted thereunder.