Common use of Payment of AIPs Clause in Contracts

Payment of AIPs. Subject to any restrictions under the Act and the Grant Legislation, upon receipt of a written direction on a prescribed form from the Subscriber, the Manager will cause AIPs to be made from the assets of the Savings Account, in such amount or amounts as the Subscriber directs: (a) to or on behalf of the Subscriber; or (b) subject to the maximum amount as permitted by the Act, to the Subscriber’s RRSP or, where the original Subscriber is deceased and there is no other Subscriber, to the RRSP of the original Subscriber’s spouse or common-law partner, as defned in the Act; provided that the payment as described above will be made only if:

Payment of AIPs. Subject to any restrictions under the Act and the Grant Legislation, upon receipt of a written direction on a prescribed form from the Subscriber, the Manager will cause AIPs to be made from the assets of the Savings Account, in such amount or amounts as the Subscriber directs: (a) to or on behalf of the Subscriber; or (b) subject to the maximum amount as permitted by the Act, to the Subscriber’s RRSP or, where the original Subscriber is deceased and there is no other Subscriber, to the RRSP of the original Subscriber’s spouse or common-law partner, as defned defined in the Act; provided that the payment as described above will be made only if: