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.
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.
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 Five Hundred Thousand Dollars ($500,000.00) as provided in section 4.01(b) of this Agreement, and for the other purposes set forth in the Trust Agreement.
(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 Carry the Kettle Indian Reserve;
(x...
