STATUS OF MONIES. (a) In accordance with section 5 of the Saskatchewan Treaty Land Entitlement Act, S.C. 1993, c.11, Canada and the Band agree that none of the monies payable by Canada pursuant to the terms of this Agreement are, or shall be deemed to be, "Indian Monies" within the meaning of the Act; and (b) Canada, Saskatchewan and the Band agree that: (i) no property, interest or right in respect of any funds on deposit in the Treaty Land Entitlement (Saskatchewan) Fund shall vest, or be deemed to vest, in the Band, its Trustees or in any other party until the same are due and payable to the Band for deposit in its Trust Account in accordance with the terms of this Agreement; (ii) except as may otherwise be agreed to in writing between the Band and Canada pursuant to section 4.12, the Band shall not be entitled to pledge, hypothecate, encumber or otherwise deal with any funds on deposit in, or to be at any time thereafter deposited to, the Treaty Land Entitlement (Saskatchewan) Fund.
Appears in 5 contracts
Samples: Treaty Land Entitlement Settlement Agreement, Treaty Land Entitlement Settlement Agreement, Treaty Land Entitlement Settlement Agreement
STATUS OF MONIES. (a) In accordance with section 5 of the Saskatchewan Treaty Land Entitlement Act, S.C. 1993, c.11, Canada and the Band agree that none of the monies payable by Canada pursuant to the terms of this Agreement are, or shall be deemed to be, be "Indian Monies" within the meaning of the Act; and.
(b) Canada, Saskatchewan and the Band agree that:
(i) no property, interest or right in respect of any funds on deposit in the Treaty Land Entitlement (Saskatchewan) Fund shall vest, or be deemed to vest, in the Band, its Trustees or in any other party until the same are due and payable to the Band for deposit in its Trust Account in accordance with the terms of this Agreement;
(ii) except as may otherwise be agreed to in writing between the Band and Canada pursuant to section 4.12, the Band shall not be entitled to pledge, hypothecate, encumber or otherwise deal with any funds on deposit in, or to be at any time thereafter deposited to, the Treaty Land Entitlement (Saskatchewan) Fund.
Appears in 2 contracts
Samples: Treaty Land Entitlement Settlement Agreement, Treaty Land Entitlement Settlement Agreement
