Revenues Realized definition

Revenues Realized means the revenues that are actually realized during a Fiscal Year from that portion of the Trust Property in the Trust Account (which portion of the Trust Property, for greater certainty, includes any and all Investment Instruments in which monies from the Trust Account may from time to time be invested hereunder by the Trustees) as such revenues are determined in accordance with Canadian generally accepted accounting principles, consistently applied;
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Revenues Realized means the net amount of revenue or income that is actually realized for a Fiscal Year from the Trust Property, including any capital gains and losses realized;
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Revenues Realized means the revenues that are actually realized during a Fiscal Year from the Trust Property, determined in accordance with Canadian generally accepted accounting principles, consistently applied, including any capital gains or interest realized on Authorized Investments as such gains or interests are realized;
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Examples of Revenues Realized in a sentence

  • The Trustee shall be paid firstly out of the Revenues Realized of the Trust, if available, and then out of the capital of the Trust, if necessary.

  • All withholding taxes, income taxes, Goods and Services Tax, and any other charges that the Trust or Trustee shall be liable to pay which may be levied under the laws of Canada or any other province or country having jurisdiction shall be paid firstly out of the Revenues Realized of the Trust, if available, and then out of the capital of the Trust, if necessary.

  • If the Chief and Council and the Trustee are able to agree on whether Authorized Investments should be sold to generate Revenues Realized and on the amount that should be sold, then such transfer shall be made by the Trustee as soon as reasonably possible upon receipt of a Band Council Resolution from the First Nation.

  • All Revenues Realized shall be transferred and deposited by the Trustee into the Band Account.

  • No monies deposited to the Trust Account or any Revenues Realized, interest or other income earned thereon shall be withdrawn for expenditure or investment except in accordance with the procedures set out in this Agreement.

  • For greater certainty, such revenues are not to be considered Revenues Realized.

  • Except for the purchase and sale of Authorized Investments and the transfer of Revenues Realized, upon receipt of such written notice from the Trustee, no funds shall be withdrawn or otherwise utilized in any manner from the Trust Account until the First Nation and the Substituted Trustee enter into a written agreement containing the same or substantially the same terms and conditions as Part I and Part III of this Agreement.

  • Revenues Realized which are paid into the Band Account in the first Fiscal Year shall be allocated firstly and specifically, to the extent necessary, for the payment of the balance of the per capita distribution referred to in subsection 4.01 (b).

  • The Key First Nation Pelly Haylands Trust is being established for the purpose of receiving, investing and expending the Settlement Monies, the Revenues Earned and the Revenues Realized on those monies.

  • Notwithstanding anything to the contrary contained in this Agreement, all Revenues Earned and Revenues Realized shall be and always remain revenues of the First Nation payable to the First Nation on Reserve and be exempt from the payment of income tax under the Income Tax Act and any applicable provincial income tax legislation.