Common use of Recipient entity Clause in Contracts

Recipient entity. 3.1.1 Unless the Seabird Island 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 he Seabird Island First Nation of its obligation under this agreement, the Seabird Island First Nation will be the recipient of the Revenue Sharing Contributions. 3.1.2 Where the Seabird Island 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 Seabird Island First Nation. 3.1.3 Seabird Island First Nation will establish and throughout the Term maintain a separate bank account in the name of Seabird Island 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”), which bank account will be used solely for the purpose of receiving monies payable under this Agreement and implementing the objectives described in section 2.0. Seabird Island 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 Seabird Island Sliammon 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 he Seabird Island relieve the Sliammon First Nation of its obligation under this agreement, the Seabird Island Sliammon First Nation will be the recipient of the Revenue Sharing Contributions. 3.1.2 Where the Seabird Island Sliammon 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 C to receive the Revenue Sharing Contribution on behalf of the Seabird Island Sliammon First Nation. 3.1.3 Seabird Island Sliammon First Nation will establish and throughout the Term maintain a separate bank account in the name of Seabird Island Sliammon 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”), which bank account will be used solely for the purpose of receiving monies payable under this Agreement and implementing the objectives described in section 2.0. Seabird Island Sliammon 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.