Common use of PAYMENTS FROM THE PLAN Clause in Contracts

PAYMENTS FROM THE PLAN. No payments will be made from the Plan other than: (i) the payment of Disability Assistance Payments to a Beneficiary of the Plan; (ii) the transfer of an amount to another trust that irrevocably holds property under a Registered Disability Savings Plan of the Beneficiary, as detailed in section 9; and (iii) repayment of amounts under the CDSA and its Regulations or a Designated Provincial Program. A Disability Assistance Payment may not be made from the Plan if the fair market value of the property held by the Plan Trust, immediately after the payment is made, would be less than the Assistance Holdback Amount in relation to the Plan. Lifetime Disability Assistance Payments will begin no later than the end of the calendar year in which the Beneficiary turns 60 years of age. In such a case where the Plan is established after the Beneficiary turns 60 years of age, Lifetime Disability Assistance Payments will begin in the calendar year immediately following the calendar year in which the Plan is established. Lifetime Disability Assistance Payments for a calendar year are limited to the amount determined by the formula described in paragraph 146.4(4)(l) of the ITA. If the Beneficiary reached 59 years of age before the current year, the total amount of all payments that are made from the Plan in the year must be at least equal to the amount determined by the formula described in paragraph 146.4(4)(l) of the ITA.

PAYMENTS FROM THE PLAN. No payments will be made from the Plan other than: (ia) the payment of Disability Assistance Payments to or for a Beneficiary of the Plan; (iib) the transfer of an amount to another trust that irrevocably holds property under a Registered Disability Savings Plan of the Beneficiary, as detailed in section 911; and (iiic) repayment repayments of amounts under the CDSA and its Regulations or a Designated Provincial Program. A Disability Assistance Payment may not be made from the Plan if the fair market value of the property held by the Plan Trust, immediately after the payment is made, would be less than the Assistance Holdback Amount in relation to the Plan. Lifetime Disability Assistance Payments will begin no later than the end of the calendar year in which the Beneficiary turns 60 years of age. In such a case where the Plan is established after the Beneficiary turns 60 years of age, Lifetime Disability Assistance Payments will begin in the calendar year immediately following the calendar year in which the Plan is established. Lifetime Disability Assistance Payments for a calendar year are limited to the amount determined by the formula described in paragraph 146.4(4)(l) of the ITA. If the Beneficiary reached 59 years of age before the current year, the total amount of all payments that are made from the Plan in the year must be at least equal to the Legislated Maximum Formula Result. Lifetime Disability Assistance Payments for a calendar year are limited to the amount determined by the formula described in paragraph 146.4(4)(l) of the ITALegislated Maximum Formula Result.

PAYMENTS FROM THE PLAN. No payments will be made from the Plan other than: (i) the payment of Disability Assistance Payments to a Beneficiary of the Plan; (ii) the transfer of an amount to another trust that irrevocably holds property prop- erty under a Registered Disability Savings Plan of the Beneficiary, as detailed in section 9; and8; (iii) repayment repayments of amounts under the CDSA and its Regulations or under a Designated Provincial Program. A Disability Assistance Payment may not be made from the Plan if the fair market value of the property held by the Plan Trust, immediately after the payment is made, would be less than the Assistance Holdback Amount in relation to the Plan. Lifetime Disability Assistance Payments will begin no later than the end of the calendar year in which the Beneficiary turns 60 years of age. In such a case where the Plan is established after the Beneficiary turns 60 years of age, Lifetime Disability Assistance Payments will begin in the calendar year immediately following the calendar year in which the Plan is established. If the beneficiary has reached 59 years of age before the particular calendar year, the total of all disability assistance payments made from this plan in the year will not be less than the legislated maximum formula result. If the property in this plan trust is insufficient to make available the required amount, a lesser amount may be paid. Lifetime Disability Assistance Payments disability assistance payments for a calendar year are limited to the amount determined by the legislated maximum formula described in paragraph 146.4(4)(l) of the ITA. If the Beneficiary reached 59 years of age before the current year, the total amount of all payments that are made from the Plan in the year must be at least equal to the amount determined by the formula described in paragraph 146.4(4)(l) of the ITAresult.