Assets of the Plan definition

Assets of the Plan means all Subscriber Contributions made by or on behalf of the Subscriber under the Plan and all Grants, together with the income and gains derived from the investment thereof, less any losses sustained on the realization of any investment, the fees and out of pocket expenses of the Trustee and the Promoter paid out of the Plan pursuant to Section 17 and any payments from the Plan (including any repayment of Grants), as provided for herein, and includes all investments and all uninvested cash held from time to time by or on behalf of the Trustee in accordance with the Plan.

Assets of the Plan means all amounts contributed to the Plan (including transfers to the Plan from another RESP), all Government Grants received by the Plan and all earnings and gains derived from investments, net of any losses and fees, charges and disbursements payable pursuant to section 13 and any other payments from the Plan, and includes all investments and uninvested cash held from time to time by the Trustee in accordance with the Plan.

Assets of the Plan means all property of any nature whatsoever which makes up the Plan, including assets transferred, contributions made to the Plan from time to time, CES Amount as well as any income, capital gains or other gains of any type whatsoever, generated or realized thereby (deduction made of all Promoter, Trustee and agent’s fees, out-of-pocket expenses and costs incurred in connection with the administration of the Plan, including any tax, interest or penalty payable, which may be directly charged against and deducted from the Assets of the Plan) held in trust by the Promoter in compliance with this agreement and the RESP Legislation.

Examples of Assets of the Plan in a sentence

• Assets of the Plan are held in trust under separate Trust Agreements with the Trustee or Trustees.

• The Trustee will pay interest to the Promoter for inclusion in the Plan and the Promoter shall credit the Assets of the Plan with appropriate interest.

• The Promoter and the Trustee will not be liable for any penalty, or any loss or damage resulting from the repayment of Government Grants as required under the Applicable Grant Legislation, that may occur as a result of any such payment of Assets of the Plan into court.

• The Promoter may, in its sole discretion, retain a portion of the Assets of the Plan in cash for the administration of the Plan.

• The Promoter and the Trustee will not have any duty or responsibility to vote, subscribe, convert or tender the Assets of the Plan in respect of any merger, consolidation, reorganization, receivership, bankruptcy, insolvency proceedings, take-over bids, issuer bids, rights offerings or similar events with respect to the investments of the Plan, except in accordance with a direction from the Subscriber.

• The Assets of the Plan will be invested in accordance with the Subscriber’s instructions, in a form satisfactory to the Promoter, provided that any proposed investment complies with the Promoter’s investment requirements, if any, communicated to the Subscriber from time to time.

• Upon the death of the Subscriber, the proceeds of the segregated fund shall be paid to the Plan and form part of the Assets of the Plan to be dealt with according to the terms of this Plan Text.It is the sole responsibility of the Subscriber to select investments of the Plan and to determine whether any investment should be purchased, sold or retained by the Plan.

• If there is a dispute about who is legally authorized to direct and receive payments from the Plan after the death of the Subscriber, the Promoter and the Trustee are entitled to either apply to the court for directions or to pay all or a portion of the Assets of the Plan into court and, in either case, fully recover any legal costs incurred in this regard as a cost or disbursement in respect of the Plan.

• The Promoter and the Trustee are not responsible for determining whether the Beneficiary is eligible for Government Grants.The Promoter will cause the Trustee to pay out of the Assets of the Plan any refund of Government Grants required under the Applicable Grant Legislation and Applicable Tax Legislation.

• Title to the Assets of the Plan shall at all times be vested solely in the Trustee to be held in accordance with the terms hereof.

More Definitions of Assets of the Plan

Assets of the Plan means all payments-in or transfers to the Plan by or on behalf of you and all Grants received from the government together with the income and gains derived from investment, less any losses sustained on the realization of any investment, the fees, commissions and out-of-pocket expenses paid out of the Plan pursuant to section 19 and any other payments from the Plan, and includes all investments and all un-invested cash held from time to time by the Trustee or on its behalf in accordance with the Canada Education Savings Act.

Assets of the Plan means all Subscriber contributions made by or on behalf of the Subscriber under the Plan and all Grants, together with the income and gains derived from the investment thereof, less any losses sustained on the realization of any investment, the fees and out of pocket expenses of the Trustee and the Promoter paid out of the Plan pursuant to Section 17 and any payments from the Plan (including any repayment of Grants), as provided for herein, and includes all investments and all uninvested cash held from time to time by or on behalf of the Trustee in accordance with the Plan.

Assets of the Plan means all property of any nature whatsoever which makes up the Plan, including assets transferred, contributions made to the Plan, CES amounts as well as any income and gains generated or realized thereby (less all promoter’s and trustee’s fees, out-of-pocket expenses and costs incurred in connection with the administration of the Plan, including any tax, interest or penalty payable), held in trust by the trustee in accordance with this agreement and the RESP legislation.

Assets of the Plan means all amounts contributed to the Plan (including transfers to the Plan from another RESP),all Government Grants received by the Plan and all earnings and gains derived from investments of such amounts, net of any losses and Expenses payable pursuant to section 17 (Expenses and Taxes) and any other payments fromthe Plan;