Common use of CONTRIBUTIONS TO THE PLAN Clause in Contracts

CONTRIBUTIONS TO THE PLAN. Contributions may be made to the Plan by or on behalf of each Subscriber in respect of the Beneficiary periodically or by way of a lump sum payment in money or other property (provided that the registered ownership of such property has been changed to reflect ownership by the Plan) subject to the RESP Lifetime Limit and such minimum limits as established by PFSL and subject to such other conditions as may be imposed by the Applicable Tax Legislation and, if applicable, by PFSL from time to time. Contributions may also be made by way of transfer from another RESP provided that such RESP has not made any Accumulated Income Payments prior to such transfer and subject to such other conditions imposed by the Applicable Tax Legislation from time to time. Contributions to the Plan do not include amounts paid into the Plan under or because of one or more Government Grants. When the Beneficiary under the Plan is also the beneficiary under other RESPs (including a replacement beneficiary who inherits the contribution history of the Beneficiary he or she replaced) each Subscriber will be responsible for ensuring that the total of all contributions in a year, in respect of that Beneficiary, will not exceed the RESP Lifetime Limit and will be responsible for any penalties that may be imposed by the Applicable RESP Legislation as a result of contributing to the Plan in excess of such limits. No contributions may be made to the Plan by or for the Subscriber after the 31st year following the year in which the Plan is entered into. No contributions may be made to the Plan by or for the Subscriber unless (a) the Beneficiary in respect of whom the contribution is made has a Canadian Social Insurance Number (SIN) that is provided to the Promoter before the contribution is made and is resident in Canada when the contribution is made, or (b) the contribution is made by way of a transfer from a RESP under which the Beneficiary was a beneficiary immediately before the transfer. A contribution may be made to the Plan in respect of a Beneficiary if the Beneficiary had not attained age 31 years before the contribution is made or the contribution is made by way of transfer from another RESP that allows more than one beneficiary at any one time.

CONTRIBUTIONS TO THE PLAN. Contributions may be made to the Plan by or on behalf of each Subscriber in respect of the Beneficiary periodically or by way of a lump sum payment in money or other property (provided that the registered ownership of such property has been changed to reflect ownership by the Plan) subject to the RESP Lifetime Limit and such minimum limits as established by PFSL and subject to such other conditions as may be imposed by the Applicable Tax Legislation and, if applicable, by PFSL from time to time. Contributions may also be made by way of transfer from another RESP provided that such RESP has not made any Accumulated Income Payments prior to such transfer and subject to such other conditions imposed by the Applicable Tax Legislation from time to time. Contributions to the Plan do not include amounts paid into the Plan under or because of one or more Government Grants. When the Beneficiary under the Plan is also the beneficiary under other RESPs (including a replacement beneficiary who inherits the contribution history of the Beneficiary he or she replaced) each Subscriber subscriber will be responsible for ensuring that the total of all contributions in a year, in respect of that the Beneficiary, will not exceed the RESP Lifetime Limit and will be responsible for any penalties that may be imposed by the Applicable RESP Legislation as a result of contributing to the Plan in excess of such limits. No contributions may be made to the Plan by or for the Subscriber after the 31st year following the year in which the Plan is entered into or, in the case of a Specified Plan, after the 35th year following the year in which the Plan was entered into. No contributions may be made to the Plan by or for the Subscriber unless (a) the Beneficiary in respect of whom the contribution is made has a Canadian Social Insurance Number (SIN) that is provided to the Promoter before the contribution is made and is resident in Canada when the contribution is made, or (b) the contribution is made by way of a transfer from a RESP under which the Beneficiary was a beneficiary immediately before the transfer. A contribution may be made to the Plan in respect of a Beneficiary if the Beneficiary had not attained age 31 years before the contribution is made or the contribution is made by way of transfer from another RESP that allows more than one beneficiary at any one time.

CONTRIBUTIONS TO THE PLAN. Contributions may be made to the Plan by or on behalf of each Subscriber in respect of the Beneficiary periodically or by way of a lump sum payment in money or other property (provided that the registered ownership of such property has been changed to reflect ownership by the Plan) subject to the RESP Lifetime Limit and such minimum limits as established by PFSL and subject to such other conditions as may be imposed by the Applicable Tax Legislation and, if applicable, by PFSL from time to time. Contributions may also be made by way of transfer from another RESP provided that such RESP has not made any Accumulated Income Payments prior to such transfer and subject to such other conditions imposed by the Applicable Tax Legislation from time to time. Contributions to the Plan do not include amounts paid into the Plan under or because of one or more Government Grants. When the Beneficiary under the Plan is also the beneficiary under other RESPs (including a replacement beneficiary who inherits the contribution history of the Beneficiary he or she replaced) each Subscriber will be responsible for ensuring that the total of all contributions in a year, in respect of that Beneficiary, will not exceed the RESP Lifetime Limit and will be responsible for any penalties that may be imposed by the Applicable RESP Legislation as a result of contributing to the Plan in excess of such limits. No contributions may be made to the Plan by or for the Subscriber after the 31st year following the year in which the Plan is entered into. No contributions may be made to the Plan by or for the Subscriber unless (a) the Beneficiary in respect of whom the contribution is made has a Canadian Social Insurance Number (SIN) that is provided to the Promoter before the contribution is made and is resident in Canada when the contribution is made, or (b) the contribution is made by way of a transfer from a RESP under which the Beneficiary was a beneficiary immediately before the transfer. A contribution may be made to the Plan in respect of a Beneficiary if the Beneficiary had not attained age 31 years before the contribution is made or the contribution is made by way of transfer from another RESP that allows more than one beneficiary at any one time.