Common use of Recipient entity Clause in Contracts

Recipient entity. 3.1.1 Unless the Nazko First Nation elects to have another entity (its “Designate”) receive Revenue Sharing Contributions pursuant to section 3.1.2, recognizing that any such election does not relieve the Nazko First Nation of its obligation under this agreement, the Nazko First Nation will be the recipient of the Revenue Sharing Contributions. 3.1.2 Where the Nazko First Nation chooses to have its Designate receive Revenue Sharing Contributions under this Agreement, British Columbia may withhold payment of the Revenue Sharing Contribution until it is satisfied that the Designate is a registered corporation or society with the legal authority and capacity to receive the funds for the purposes described in section 2.0 and that it has been appointed by Band Council Resolution documented in Appendix D to receive the Revenue Sharing Contribution on behalf of the Nazko First Nation. 3.1.3 Nazko First Nation will establish and throughout the Term maintain a bank account in the name of Nazko First Nation (or the Designate, as the case may be) at a Canadian financial institution into which direct deposits can be made by British Columbia for the purpose of receiving monies payable by British Columbia pursuant to this Agreement (the “Payment Account”). Nazko First Nation will provide to British Columbia sufficient address and account information respecting the Payment Account to enable British Columbia to make direct deposit payments to the Payment Account.

Recipient entity. 3.1.1 Unless the Nazko First Squamish Nation elects to have another entity (its “Designate”) receive Revenue Sharing Contributions pursuant to section 3.1.2, recognizing that any such election does not relieve the Nazko First Squamish Nation of its obligation under this agreement, the Nazko First Squamish Nation will be the recipient of the Revenue Sharing Contributions. 3.1.2 Where the Nazko First Squamish Nation chooses to have its Designate receive Revenue Sharing Contributions under this Agreement, British Columbia may withhold payment of the Revenue Sharing Contribution until it is satisfied that the Designate is a registered corporation or society with the legal authority and capacity to receive the funds for the purposes described in section 2.0 and that it has been appointed by Band Council Resolution documented in Appendix D to receive the Revenue Sharing Contribution on behalf of the Nazko First Squamish Nation. 3.1.3 Nazko First Squamish Nation will establish and throughout the Term maintain a bank account in the name of Nazko First Squamish Nation (or the Designate, as the case may be) at a Canadian financial institution into which direct deposits can be made by British Columbia for the purpose of receiving monies payable by British Columbia pursuant to this Agreement (the “Payment Account”). Nazko First Squamish Nation will provide to British Columbia sufficient address and account information respecting the Payment Account to enable British Columbia to make direct deposit payments to the Payment Account.