Common use of TRANSFER OF REVENUES Clause in Contracts

TRANSFER OF REVENUES. 6.1 Following the date that the Land Code comes into force, Canada shall transfer the revenue moneys referred to in section 19 of the Act and clause 12.8 of the Framework Agreement to the First Nation in accordance with the provisions set out in Annex “B”. 6.2 Revenue moneys transferred pursuant to clause 6.1 shall be deposited in the First Nation’s account at such financial institution as the First Nation may direct by notice in writing. 6.3 For greater certainty, the transfer of the revenue moneys does not release the First Nation from its commitment to reimburse Canada for any amount paid as a result of a default under any loan entered into by the First Nation or any of its members and guaranteed by Canada in accordance with the terms and conditions relating to ministerial loan guarantees. 6.4 For greater certainty, all Indian moneys deemed to be capital moneys pursuant to section 62 of the Indian Act are not to be transferred to the First Nation pursuant to this Agreement.

TRANSFER OF REVENUES. 6.1 Following the date that the Land Code comes into force, Canada shall transfer the revenue moneys referred to in section 19 of the Act and clause 12.8 of the Framework Agreement to the First Nation in accordance with the provisions set out in Annex “B”. 6.2 Revenue moneys transferred pursuant to clause 6.1 shall be deposited in the First Nation’s =s account at such financial institution as the First Nation may direct by notice in writing. 6.3 For greater certainty, the transfer of the revenue moneys does not release the First Nation from its commitment to reimburse Canada for any amount paid as a result of a default under any loan entered into by the First Nation or any of its members and guaranteed by Canada in accordance with the terms and conditions relating to ministerial loan guarantees. 6.4 For greater certainty, all Indian moneys deemed to be capital moneys pursuant to section 62 of the Indian Act are not to be transferred to the First Nation pursuant to this Agreement.