PAYMENT OF ENTITLEMENT MONIES. (a) Subject to subsections 3.01(d) and (e) and section 10.01, Canada agrees to deposit into the Trust Account, for and on behalf of the Band, Canada's portion of the Entitlement Monies within the time frame set forth in subsection 3.01(b) together with all Entitlement Monies received by Canada from Saskatchewan within fifteen (15) days of receipt thereof by the Treaty Land Entitlement (Saskatchewan) Fund. (b) In the event of any failure by Canada to pay Canada's portion of the Entitlement monies to the Trust Account for and on behalf of the Band within the time frames specified in subsection 3.01(b), or in the event of any failure on the part of Canada to deposit to the Trust Account Saskatchewan's portion of the Entitlement Monies within fifteen (15) days of the actual date of payment thereof by Saskatchewan to the Treaty Land Entitlement (Saskatchewan) Fund, then the Band shall be entitled to payment by Canada of interest on the unpaid balance of the Entitlement Monies then due, calculated at the Interest Rate plus two percent (2%) per annum from the date such payment was required to be deposited into the Trust Account to and including the date of payment thereof. All interest payments payable hereunder shall accrue to the benefit of the Band and shall be deposited into the Trust Account by Canada concurrent with the payment of Entitlement Monies pursuant to subsection 3.01(b) and shall constitute part of the Entitlement Monies for the purpose of the Trust Agreement.
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Samples: Treaty Land Entitlement Settlement Agreement, Treaty Land Entitlement Settlement Agreement, Treaty Land Entitlement Settlement Agreement
