Common use of Provision of Social Insurance Number Clause in Contracts

Provision of Social Insurance Number. (a) Upon the Subscriber providing the Benefciary’s Social Insurance Number within the time period specifed in section 2.02(a): (i) the original amount transferred to the Holding Account, including the Enrolment Fee re-deposited thereto and income earned thereon but excluding any other Fees, shall be a Contribution made by the Subscriber to the Plan; (ii) the ownership of such Contribution shall be transferred back to the Subscriber and held by the Foundation as agent of the Subscriber; (iii) the Subscriber shall be deemed to have directed the Foundation to transfer or to cause to be transferred such Contribution to the Trustee, and the Foundation shall transfer or cause to be transferred such Contribution to the Trustee as a Contribution made by the Foundation on behalf of the Subscriber; and (iv) the Enrolment Fee will then be deducted from such Contribution. (b) All Contributions from the Holding Account will be subject to the RESP Limit; and, for the purpose of applying the provisions of the Agreement, the date of application for the Agreement will be the date the Agreement is entered into or the date the Benefciary’s Social Insurance Number was provided to the Manager, whichever is later.

Provision of Social Insurance Number. (a) Upon the Subscriber providing the BenefciaryBeneficiary’s Social Insurance Number within the time period specifed specified in section 2.02(a): (i) the original amount transferred to the Holding Account, including the Enrolment Fee re-deposited thereto and income earned thereon but excluding any other Fees, shall be a Contribution made by the Subscriber to the Plan; (ii) the ownership of such Contribution shall be transferred back to the Subscriber and held by the Foundation as agent of the Subscriber; (iii) the Subscriber shall be deemed to have directed the Foundation to transfer or to cause to be transferred such Contribution to the Trustee, and the Foundation shall transfer or cause to be transferred such Contribution to the Trustee as a Contribution made by the Foundation on behalf of the Subscriber; and (iv) the Enrolment Fee will then be deducted from such Contribution. (b) All Contributions from the Holding Account will be subject to the RESP Limit; and, for the purpose of applying the provisions of the Agreement, the date of application for the Agreement will be the date the Agreement is entered into or the date the BenefciaryBeneficiary’s Social Insurance Number was provided to the Manager, whichever is later.