Designated Amount Fund definition

Designated Amount Fund means the trust fund established to hold the Designated Amount to be allocated in the manner set out in Article Five of this Agreement;
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Examples of Designated Amount Fund in a sentence

  • If any person not bound by this Agreement claims over or brings a third party claim, makes any claim or demand or takes any action or proceeding against any defendant named in the Class Actions or the Cloud Class Action arising in relation to an Indian Residential School or the operation of Indian Residential Schools, no amount payable by any defendant named in the Class Actions or the Cloud Class Action to that person will be paid out of the Designated Amount Fund.

  • In the event that a review under Section 5.05(1) determines that the Designated Amount Fund is insufficient to pay all Eligible CEP Recipients who have applied, as of the date of the review, to receive the Common Experience Payment to which they are entitled, Canada will add an amount sufficient to remedy any deficiency in this respect within 90 days of being notified of the deficiency by the Trustee.

  • Interest on the assets of the Designated Amount Fund will be earned and paid as provided in Order in Council P.C. 1970-300 of February 17, 1970 made pursuant to section 21(2) of the Financial Administration Act as set out in the Trust Agreement attached as Schedule “I”.

  • If any person not bound by this Agreement claims over or brings a third party claim, makes any claim or demand or takes any action or proceeding against any defendant named in the Class Actions or the Cloud Class Action arising in relation to an Indian Residential School or the operation of Indian Residential Schools, no amount payable by any defendant named in the Class Actions of the Cloud Class Action to that person will be paid out of the Designated Amount Fund.

  • The Indian Residential Schools Settlement Agreement came into effect on September 19, 2007 and pursuant to its provisions, Canada placed $1.9 billion into a trust fund referred to as the Designated Amount Fund intended to be allocated among eligible claimants for the Common Experience Payment or CEP.

  • Signature: Date: Please send the completed application form plus all required documentation to ▇▇▇▇@▇▇▇▇▇▇▇▇▇▇.▇▇▇ Dear Organization, Thank you for your interest in applying for the IEF’s Designated Amount Fund.