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.
Appears in 5 contracts
Samples: Treaty Land Entitlement Settlement Agreement, Treaty Land Entitlement Settlement Agreement, Treaty Land Entitlement Settlement Agreement
