SHORTFALL ACRES TO INCLUDE ALL MINERALS Sample Clauses

SHORTFALL ACRES TO INCLUDE ALL MINERALS. (a) The Band agrees that, prior to the Shortfall Acres Acquisition Date, all Entitlement Land Purchased shall include all Minerals and shall be free and clear of all Mineral Dispositions and, in the case of Land in respect of which all the underlying Minerals are owned by the provincial or federal Crown, such Minerals shall not, in the case of provincial Crown Minerals, be the subject of any Public Purposes Plan.
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SHORTFALL ACRES TO INCLUDE ALL MINERALS. (a) The Band agrees that subject to subsection (b), prior to their Shortfall Acres Acquisition Date, all Entitlement Land Purchased shall include all Minerals and shall be free and clear of all Mineral Dispositions and, in the case of Land in respect of which all the underlying Minerals are owned by the provincial or federal Crown, such Minerals shall not, in the case of provincial Crown Minerals, be the subject of any Public Purposes Plan. (b) Prior to the Band’s Shortfall Acres Acquisition Date, the surface of the Land may be purchased without acquiring all, or any, of the underlying Minerals, provided however: (i) eligibility of such land for creation as an Entitlement Reserve shall be subject to and in accordance with the terms and conditions of this Agreement; (ii) the portion of the Trust Property at the time of such purchase on deposit in the Trust Account (which includes for greater certainty, the funds invested in investment instruments purchased utilizing monies from the Trust Account and all accrued interest thereon) together with a sum equal to the Entitlement Monies to be paid in the future less the purchase price of the surface of such land to be purchased, must exceed the result obtained by multiplying the average price per acre paid for all Entitlement Land purchased that includes all minerals by the number of acres that is equal to the difference between the Shortfall Acres and the area of land expressed in acres that has at the time of such Purchase been set apart as an Entitlement Reserve or Entitlement Reserves on behalf of the Band, by one and one-half; (iii) in any event, the aggregate surface area of all land purchased without acquiring all, or any, of the underlying minerals prior to the Shortfall Acres Acquisition Date, shall not exceed 4,000 acres.
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Related to SHORTFALL ACRES TO INCLUDE ALL MINERALS

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  • Taxes and Fees Imposed on Purchasing Party But Collected And Remitted By Providing Party 11.3.1 Taxes and fees imposed on the purchasing Party shall be borne by the purchasing Party, even if the obligation to collect and/or remit such taxes or fees is placed on the providing Party.

  • Transportation Costs The cost of transporting a Warranted Part claimed to be defective to the facilities designated by the Seller and for the return therefrom of a repaired or replaced Warranted Part shall be borne by the Buyer.

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