UPPER LIMIT ON PURCHASE PRICE OF LAND. Save and except for any Entitlement Land Purchased using the funds referred to in subsection 4.01(b) hereof, no Purchase of Entitlement Land shall be made prior to the Shortfall Acres Acquisition Date if the average Price per acre of such Entitlement Land (including all amounts required to Purchase the associated Minerals and Improvements and to pay related Acquisition Costs) would exceed the result obtained, from time to time, by subtracting from the total amount of the Band's Entitlement Monies the sum of:
(a) the amount mentioned in subsection 4.01(b) of this Agreement; plus
(b) the amount of Entitlement Monies actually expended or committed for the Purchase of Entitlement Land up to that time; and, thereafter, dividing such remaining amount by the number of Shortfall Acres which remain to be set apart as an Entitlement Reserve.
UPPER LIMIT ON PURCHASE PRICE OF LAND. Unless otherwise agreed in a Band Specific Agreement, no Purchase of Entitlement Land (which, for greater certainty, must include all Minerals and Improvements) shall be permitted prior to the Shortfall Acres Acquisition Date if the average Price per acre (including all amounts required to Purchase the associated Minerals and Improvements and to pay related Acquisition Costs) would exceed the result obtained, from time to time, by subtracting from the total amount of the Entitlement Band's Entitlement Monies the lesser of the two amounts calculated in respect of such Entitlement Band pursuant to subparagraphs 4.01(b)(i) and (ii) (but only to the extent such amounts have actually been withdrawn from the Trust Account), and, thereafter, dividing such amount by the Entitlement Band's Shortfall Acres.
UPPER LIMIT ON PURCHASE PRICE OF LAND. No Purchase of Entitlement Land (which, for greater certainty, must include all Minerals and Improvements) shall be made prior to the Shortfall Acres Acquisition Date if the average Price per acre (including all amounts required to Purchase the associated Minerals and Improvements and to pay related Acquisition Costs) for that Purchase would exceed the amount of the Entitlement Monies divided by the Shortfall Acres, which Canada and the Band agree is $485.85 per acre.
UPPER LIMIT ON PURCHASE PRICE OF LAND. No Purchase of Entitlement Land (which, for greater certainty, must include all Minerals and Improvements) shall be made prior to the Shortfall Acres Acquisition Date if the average Price per acre (including all amounts required to Purchase the associated Minerals and Improvements and to pay related Acquisition Costs) would exceed the result obtained, from time to time, by subtracting from the total amount of the Band's Entitlement Monies, the amount mentioned in subsection 4.01(b) (but only to the extent such amounts have actually been withdrawn from the Trust Account) and the amount of Entitlement Monies actually expended or committed for the Purchase of Entitlement Land up to that time, and, thereafter, dividing such amount by the Band's Shortfall Acres which remain to be purchased..
