TREATY LAND ENTITLEMENT TRUST Sample Clauses

TREATY LAND ENTITLEMENT TRUST. The Band represents and warrants that: (a) the Entitlement Monies to be paid by Canada and Saskatchewan pursuant to the terms of this Agreement are intended to be a long term asset of the Band, to be properly invested for the long term use and benefit of the Band and its Members, and are to be used for the purchase of Entitlement Land, and for such other purposes as may be consistent with the provisions, principles, warranties, representations and undertakings set forth in this Agreement and, in particular, sections 4.01, 4.02, 4.03, 5.01, 8.02, 21.04, Article 3, and Article 11 hereof; (b) the Band will take such actions as it deems necessary or advisable, with the benefit of appropriate legal and financial advice, to give effect to this Agreement and, in particular, the intent set out in subsection 3.03(a); (c) a Trust shall at all times be established in respect of Entitlement Monies with an Institution and shall be maintained in accordance with the provisions of this Agreement and the Trust Agreement; (d) the Trust and the Trust Agreement shall be consistent with the provisions of this Agreement and shall be structured in a manner which shall give effect to the provisions, principles, warranties, representations and undertakings set forth in this Agreement and, in particular, sections 4.01, 4.02, 4.03, 5.01, 8.02, 21.04, Article 3, and Article 11 hereof and shall, without limiting the foregoing, ensure that any holding corporation or agents of the Band which may be involved in the Purchase of Entitlement Land are likewise required to act in a manner consistent with this Agreement, and, also, to ensure that any amendment of the Trust or Trust Agreement, or the subsequent creation of a new or substitute Trust or Trust Agreement, shall be subject to the terms of this Agreement, including this provision; and (e) Canada has not reviewed or advised the Band with respect to the structure, terms, or operation of the Trust Agreement, or any other matter related thereto, and the Band is not relying upon any advice other than the advice of its own legal and financial advisors in this regard.
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TREATY LAND ENTITLEMENT TRUST. (a) The Entitlement Bands agree that it is their intention that the Entitlement Monies to be paid by Canada pursuant to the terms of their Band Specific Agreement are to be properly invested for the future use and benefit of the Entitlement Band. Each Entitlement Band agrees that a trust shall be established in respect thereof and maintained in accordance with the provisions of this Agreement, its Trust Agreement and Band Specific Agreement. (b) The Entitlement Monies shall not be paid to such Entitlement Band's revenue account, capital account or any other account now in existence, or hereafter established including, without limitation, under the Act. (c) The Entitlement Bands agree that their Band Specific Agreements shall, inter alia, clearly acknowledge that the Entitlement Band has, through its Chief and Council, received independent legal advice.
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TREATY LAND ENTITLEMENT TRUST. (a) The Band agrees that the Entitlement Monies to be paid by Canada and Saskatchewan pursuant to the terms of this Agreement are intended to be a long term asset of the Band, to be properly invested for the future use and benefit of the Band and its Members, so as to acquire Entitlement Land and for the other purposes specifically set forth in the Trust Agreement. (b) The Band agrees that its Trust Agreement shall contain terms and conditions that: (i) give effect to the principles set forth in this Agreement; (ii) ensure that those amounts on deposit in the Trust Account (excluding interest earned thereon) are not utilized prior to the Shortfall Acres Acquisition Date except for the purchase of Entitlement Land in accordance with the procedures set out in the Trust Agreement, the transfer of up to One Million One Hundred Forty-Seven Thousand Four Hundred Dollars ($1,147,000.00) as provided in section 4.01(b) of this Agreement, and for the purchase of authorized investments; (iii) identify and authorize an Institution into which the Entitlement Monies paid in Article 3 shall be deposited and which Institution shall be responsible to act responsibly in respect to the Trust Account and Revenue Trust Account; (iv) require acquisition by the Trustees of Entitlement Land in a way that is consistent with the Terms of this Agreement; (v) clearly establish identified rules governing the operation of the Trust Account, Revenue Trust Account and the terms and conditions to be met prior to withdrawal or transfer of funds from such accounts; (vi) require Band Council Resolutions and other binding forms of approval authorizing the disbursement of funds from the Trust Account for, among other things, acquisition of lands, minerals or improvements and the required notifications; (vii) ensure that the Council are informed of Trust related activities including reasonable access to all related records and accounts; (viii) establish rules governing the appointment, removal, replacement, duties and reporting requirements of the Trustees; (ix) identify the form of authorized investments which are permitted to be purchased or otherwise acquired prior to the Shortfall Acres Acquisition Date; (x) identify Band Development purposes for which the Trust Property on deposit in either the Trust Account or Revenue Trust Account may be utilized; (xi) include conflict of interest guidelines for the Trustees; (xii) ensure that a majority of Trustees are Indians resident on the Cowessess ...
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Related to TREATY LAND ENTITLEMENT TRUST

  • The Unemployment Trust Fund 8.3.1 The State shall use the following method to calculate State interest liabilities on funds withdrawn from the several accounts in the Unemployment Trust Fund: The State shall use the following methodology to calculate State interest liabilities on funds withdrawn from the several accounts in the UTF under the Unemployment Insurance program. Based on statements provided by its financial institution, or other appropriate source, the State shall determine the actual interest earnings and the related banking costs attributable to funds withdrawn from its account in the UTF. At the end of the State's fiscal year, the State shall calculate the percentage of its total unemployment compensation expenditures for (1) funds withdrawn from the State account in the UTF, or the State %, and (2) funds withdrawn from the Federal Employees Compensation Account (FECA) and the Extended Unemployment Compensation Account (EUCA) and any other accounts of Federal funds in the UTF, or the Federal %. The State shall calculate the actual interest earnings and the related banking costs attributable to funds withdrawn from the State account in the UTF by multiplying the State % by the amount of the actual interest earnings and the related banking costs of the account as a whole. The State's liability for interest on funds withdrawn from its account in the UTF shall consist of the actual interest earnings attributable to such funds less the related banking costs attributed to such funds. The State shall determine the average daily cash balance of its unemployment compensation benefit payment account for its fiscal year. The State shall calculate the average daily cash balance of Federal funds by multiplying the Federal % by the average daily cash balance of the benefit payment account on the whole. The State's liability for interest on funds withdrawn from the FECA and EUCA (and any other benefit accounts of Federal funds in the UTF from which the State draws funds) shall be the average daily cash balance of Federal funds multiplied by the annualized rate equal to the average equivalent yields of 13-week Treasury bills auctioned during the State's fiscal year.

  • Real Estate Investment Trust Commencing with its taxable year ended December 31, 2009, the Company has been organized and operated in conformity with the requirements for qualification and taxation as a real estate investment trust (“REIT”) under the Code, and its proposed method of operation will enable it to continue to meet the requirements for qualification and taxation as a REIT under the Code.

  • Trust Not a Partnership; Taxation It is hereby expressly declared that a trust and not a partnership is created hereby. No Trustee hereunder shall have any power to bind personally either the Trust's officers or any Shareholder. All persons extending credit to, contracting with or having any claim against the Trust or the Trustees shall look only to the assets of the appropriate Portfolio or, until the Trustees shall have established any separate Portfolio, of the Trust for payment under such credit, contract or claim; and neither the Shareholders, the Trustees, nor the Trust's officers nor any of the agents of the Trustees whether past, present or future, shall be personally liable therefor. It is intended that the Trust, or each Portfolio if there is more than one Portfolio, be classified for income tax purposes as an association taxable as a corporation, and the Trustees shall do all things that they, in their sole discretion, determine are necessary to achieve that objective, including (if they so determine), electing such classifications on Internal Revenue Form 8832. The Trustees, in their sole discretion and without the vote or consent of the Shareholders, may amend this Agreement to ensure that this objective is achieved.

  • Investment Management Trust Agreement The Company has entered into the Trust Agreement with respect to certain proceeds of the Offering and the Private Placement substantially in the form filed as an exhibit to the Registration Statement.

  • Grantor Trust The Trust is intended to be a grantor trust, of which the Sponsor is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Internal Revenue Code of 1986, as amended, and shall be construed accordingly.

  • Payments from Owner Trust Estate All payments to be made by the Owner Trustee under this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party shall be made only from the income and proceeds of the Owner Trust Estate and only to the extent that the Owner Trustee shall have received income or proceeds from the Owner Trust Estate to make such payments in accordance with the terms hereof. Wilmington Trust Company or any successor thereto, in its individual capacity, shall not be liable for any amounts payable under this Agreement or any of the Basic Documents to which the Trust or the Owner Trustee is a party.

  • The Owner Trustee’s Compensation Compensation for all services rendered by Wilmington Trust under this Agreement (which compensation shall not be limited by any provision of law in regard to the compensation of a trustee of an express trust) shall be paid to Wilmington Trust pursuant to Section 4.4(a) of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable (in either case to the extent of Available Funds available therefor), in accordance with the terms of an applicable fee letter. Wilmington Trust shall, upon its request and in accordance with an applicable fee letter, be reimbursed pursuant to Section 4.4(a) of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable (in either case to the extent of Available Funds available therefor), for all reasonable expenses, disbursements and advances incurred or made by Wilmington Trust in accordance with any provision of this Agreement (including the reasonable compensation, expenses and disbursements of such agents, experts and counsel as Wilmington Trust may employ in connection with the exercise, enforcement and performance of its rights and its duties hereunder or amendments or modifications hereto, including but not limited to expenses related to Sections 4.3 and 5.3 hereof), except any such expense that may be attributable to its willful misconduct, gross negligence (other than an error in judgment) or bad faith. To the extent not paid in full from Available Funds pursuant to Section 4.4 of the Sale and Servicing Agreement or Section 5.4(b) of the Indenture, as applicable (whether by application of the limitation set forth in Section 4.4(a) of the Sale and Servicing Agreement or otherwise), on or before the Payment Date following the end of the Collection Period that includes the 30th day after the request therefor, such fees and reasonable expenses shall be paid by the Servicer pursuant to Section 3.11 of the Sale and Servicing Agreement (without regard to such limitation). The provisions of this Section 8.1 shall survive the termination of this Agreement and the resignation or removal of the Owner Trustee.

  • Trust Not a Partnership This Declaration creates a trust and not a partnership. No Trustee shall have any power to bind personally either the Trust's officers or any Shareholder.

  • Anti-Trust The MA Dual SNP hereby certifies to HHSC that neither the MA Dual SNP, nor the person represented by the MA Dual SNP, nor any person acting for the represented person, has been found by a judgment of a court of law to have violated the anti-trust laws codified by Chapter 15, Texas Business and Commerce Code, or the federal anti-trust laws.

  • Initial Capital Contribution of Owner Trust Estate The Transferor hereby sells, assigns, transfers, conveys and sets over to the Owner Trustee, as of the date hereof, the sum of $1.00. The Owner Trustee hereby acknowledges receipt in trust from the Transferor, as of the date hereof, of the foregoing contribution, which shall constitute the initial Owner Trust Estate and shall be deposited in the Certificate Distribution Account. The Transferor shall pay organizational expenses of the Issuer as they may arise or shall, upon the request of the Owner Trustee, promptly reimburse the Owner Trustee for any such expenses paid by the Owner Trustee.

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