Valuation of Trust Fund Clause Samples
The Valuation of Trust Fund clause establishes the method and timing for determining the value of the assets held within a trust. Typically, this clause outlines how often valuations should occur—such as quarterly or annually—and specifies the standards or professionals to be used in appraising the trust's holdings, which may include cash, securities, or real estate. By providing a clear process for asset valuation, the clause ensures transparency and fairness in reporting the trust's worth, which is essential for accurate distributions, tax reporting, and overall trust administration.
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Valuation of Trust Fund. The Trustee, as of the valuation date set forth in the Plan and at such other time or times as is necessary or as the Trustee and the Investment Committee agree, shall determine the market value of the assets of the Trust Fund. The valuation shall be based upon valuations provided by Investment Managers, trustees of common trust funds, sponsors of registered investment companies, records of securities exchanges or valuation services, market data providers or qualified appraisers. The Trustee has no responsibility to review the valuations received from such sources and may rely upon such valuations without independent investigation. Notwithstanding the foregoing, the Trustee shall not be responsible for providing the value of any Contracts, as described in Section 2.7, or for any asset which is not liquid or not publicly traded, the value of which shall be provided by the Investment Committee. The Trustee may obtain the opinions of qualified appraisers, as necessary in the discretion of the Trustee, to determine the fair market value of Qualifying Employer Securities, the fees of which appraiser shall, unless paid by the Employer, be paid from the Trust Fund.
Valuation of Trust Fund. As soon as practicable after the last day of each calendar year and as of such other dates as may be specified by the Company or the Committee, the Trustee shall report to the Company and the Committee the assets held in the Trust Fund as of such day and shall determine and include in such report the fair market value as of such day of each such asset. In determining such fair market values, the Trustee shall use such market quotations and other information as are available to it and may in its discretion be appropriate. The report of any such valuation shall not constitute a representation by the Trustee that the amounts reported as fair market values would actually be realized upon the liquidation of the Trust Fund. The Trustee shall not be accountable to the Company or to any other person on the basis of any such valuation, but its accountability shall be in accordance with the provisions of Article IV hereof.
Valuation of Trust Fund. The Trustee shall value or cause to be valued the Trust Fund as of the last business day of each fiscal year of the Company ("Valuation Date"), and shall report to the Committee the value of the Trust Fund as of such date, within a reasonable time after the first day of the month next succeeding each Valuation Date.
Valuation of Trust Fund. The Trustee shall value or cause to be valued the Trust Fund and any Investment Fund that has been established hereunder as of the last business day of each calendar quarter ("Valuation Date"), and shall report to the Plan Administrator the value of the Trust Fund and each Investment Fund as of such date, within a reasonable time after the first day of the month next succeeding each Valuation Date.
Valuation of Trust Fund. The Trustee, as of the valuation date set forth in the Plan and at such other time or times as is necessary or as the Trustee and the Named Fiduciary agree, shall determine the market value of the assets of the Trust Fund. The valuation shall be based upon valuations provided by Investment Managers, trustees of common trust funds, sponsors of registered investment companies, records of securities exchanges or valuation services, market data providers or qualified appraisers. Notwithstanding the foregoing, the Trustee shall not be responsible for providing the value of any Contracts, as described in Section 2.6, or for any asset which is not liquid or not publicly traded, the value of which shall be provided by the Named Fiduciary.
Valuation of Trust Fund. If a Trust Fund is set up by or on behalf of a Party, valuation of such Trust Fund by independent valuers approved by the unanimous agreement of all the Parties except the Party whose Trust Fund is being valued shall be provided to all the Parties each year no later than [thirty (30)] days before each anniversary of the Relevant Date.
Valuation of Trust Fund. 13 SECTION 6.3 REPORTS TO THE PLAN ADMINISTRATOR............................................................. 13 SECTION 6.4
Valuation of Trust Fund. The Trustee, as of the valuation date set forth in the Plan and at such other time or times as is necessary or as the Trustee and the Named Fiduciary agree, shall determine the net worth of the assets of the Trust Fund. The valuation shall be based upon valuations provided by Investment Managers, trustees of common trust funds, sponsors of registered investment companies, records of securities exchanges or valuation services, market data providers or qualified appraisers. Notwithstanding the foregoing, the Trustee shall not be responsible for providing the value of any Contracts, as described in Section 2.7, or for any asset which is not liquid or not publicly traded, the value of which shall be provided by the Named Fiduciary. The Trustee may obtain the opinions of qualified appraisers, as necessary in the discretion of the Trustee, to determine the fair market value of Qualifying Employer Securities, the fees of which appraiser shall, unless paid by the Employer, be paid from the Trust Fund.
Valuation of Trust Fund. At such intervals and as of such dates ----------------------- (each of which is herein referred to as a "Valuation Date") as the Plan Administrator may designate from time to time, but not less frequently than once during each period of twelve months, the Trustee shall determine the value of the assets held in each separate account in the Trust Fund. In so doing, the Trustee shall allocate each item of net income, gain or loss among all such accounts as the Trustee deems appropriate in its sole discretion; provided that to the extent that particular accounts in the Trust Fund are invested at the direction of the Plan Administrator or the Company, net income, gain, loss, expenses and taxes attributable to such investments shall be allocated exclusively to such accounts. Each valuation shall be made, to the extent reasonably practicable, within thirty business days after the Valuation Date as of which it is made. Except as otherwise provided in this Trust Agreement, assets shall be valued at their market values at the close of business on the Valuation Date, or, in the absence of readily ascertainable market values, at such values as the Trustee shall determine in good faith, in accordance with methods consistently followed and uniformly applied. At the discretion of the Trustee, certain securities and investments may be valued on the basis of valuations provided by an independent pricing service when such prices are believed to reflect fair market value. Prices provided by a pricing service may be determined without exclusive reliance on quoted prices, and may take into account appropriate factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data. Except as otherwise provided in this Trust Agreement, values of assets for which such a pricing service is not utilized will be determined as follows:
(a) Stocks, bonds and other securities and investments listed on security or other exchanges shall be valued at their closing sale prices on the Valuation Date, or if no sale was made on the Valuation Date, at their recorded bid prices. Prices for securities or investments whose principal trading markets are within the United States shall be obtained from the Composite Transaction Tape where applicable, or from the records of the exchanges, newspapers of general circulation published domestically, or standard financial periodicals. Prices for securi...
Valuation of Trust Fund. The Trustee may hold, invest and reinvest the assets of the Trust Fund as a consolidated single fund. Earnings and losses shall be allocated between Company Trust Assets and Bank Trust Assets, as applicable. As of the last business day of each calendar month, the Trustee shall value the Trust Fund at current market values, and shall report such valuation, and the allocation thereto as between Company Trust Assets and Bank Trust Assets, to the Company and the Bank and, following an Irrevocable Election or Change in Control, to the Committee. The report of any such valuation shall not constitute a representation by the Trustee that the amounts reported as fair market values would actually be realized upon the liquidation of the Trust Fund. Such valuation shall reflect Contributions, income of the Trust Fund, gains or losses (including gains or losses not yet realized), distributions and expenses incurred during the month. If the Trust shall hold at any valuation date any life insurance policies, such policies shall be valued at the cash surrender value thereof in determining the assets of the Trust Fund.