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10.9 hereof, the Program Administrator may transmit information concerning the Investment <br />Property and the Participants to such agents. <br />4.5 Daily Calculation of Program Value and Rate of Return. <br />(a) The Program Administrator shall calculate the Investment Property Value <br />once on each Business Day at the time and in the manner provided in the Valuation <br />Procedures. <br />(b) Upon performing the valuation specified in Section 4.5(a) hereof, the <br />Program Administrator shall calculate (rounding off to the nearest whole cent) the Balance of <br />each Participant and each Balance of each of the Participants shall be adjusted proportionately <br />so that the total Balances of all the Participants equals the Investment Property Value. <br />(c) For purposes of calculating the Investment Property Value, the amount of <br />any uncertain or contingent Investment Property Liability shall be deemed to be equal to the <br />amount of the reserve, if any, against such Investment Property Liability that has been <br />approved from time to time by the Program Administrator. <br />(d) For purposes of calculating the Investment Property Value, if the value of <br />any part of the Investment Property is uncertain or contingent, the value of such part of the <br />Investment Property shall be deemed to be equal to the amount determined from time to time <br />by the Program Administrator. <br />(e) The Program Administrator shall calculate daily the rate of return earned <br />on the Investment Property. <br />4.6 Administration of Program. The Program Administrator shall perform the <br />following administrative functions on behalf of the Board of Trustees in connection with the <br />implementation of this Agreement: <br />(a) collect and maintain for such time period as may be required under any <br />applicable federal or Texas law written records of all transactions affecting the Investment <br />Property or the Balances, including, but not limited to (a) investments by and payments to or <br />on behalf of each Participant; (b) acquisitions and dispositions of Investment Property; (c) <br />pledges and releases of collateral securing the Investment Property; (d) determinations of the <br />Investment Property Value; (e) adjustments to the Participants' Balances; and (f) the current <br />Balance and the Balances at the end of each month for each Participant. There shall be a <br />rebuttable presumption that any such records are complete and accurate. On behalf of each <br />Participant, the Program Administrator shall maintain the records relating to such Participant <br />in a manner that subdivides the Participant's Balance into subaccounts or other special <br />accounts to accommodate the desire of such Participant to segregate a portion of its <br />Investment Funds; <br />(b) assist in the organization of the annual meeting required by Section 3.1(a) <br />hereof and of Meetings of the Board of Trustees, including preparation and distribution of the <br />notices and agendas therefor; <br />14 <br />#4350219.1 <br />