SASKATCHEWAN PAYMENTS TO THE TREATY LAND ENTITLEMENT (SASKATCHEWAN) FUND. (a) Subject to section 20.23, Canada and Saskatchewan agree to apportion the Entitlement Monies in accordance with the following formula:
(i) Canada shall contribute 70% of the Entitlement Monies; and
(ii) Saskatchewan shall contribute 30% of the Entitlement Monies.
(b) Saskatchewan agrees to pay its share of the Entitlement Monies to the Treaty Land Entitlement (Saskatchewan) Fund as follows:
(i) $518,609.01 within 30 days of the Execution Date;
(ii) $518,609.16 on or before June 30 in each of the succeeding five (5) years.
(c) In the event of any failure by Saskatchewan to make any of the foregoing payments within the time frames specified in subsection (b) of this section, then the Band shall be entitled to payment by Saskatchewan of interest on the unpaid balance of such Entitlement Monies then due from Saskatchewan calculated at the Interest Rate plus two (2%) percent per annum from the date such payment was required to be deposited to the Treaty Land Entitlement (Saskatchewan) Fund to and including the date of payment thereof. All interest payments payable hereunder by Saskatchewan shall accrue to the benefit of the Band and shall (after receipt by Canada from Saskatchewan) be deposited by Canada into the Trust Account and shall constitute part of the Entitlement Monies.
