Common use of EQUITY QUANTUM Clause in Contracts

EQUITY QUANTUM. Each Entitlement Band agrees with Canada that its Equity Quantum is set forth in column 9 of Schedule 1. Canada, Saskatchewan and the Entitlement Bands agree that the Equity Quantum has been calculated as follows: (a) by multiplying the Adjusted Date of First Survey Population by one hundred and twenty-eight (128) acres; (b) by determining the total acreage of all Reserve Lands set apart for Entitlement Purposes on or before December 31, 1955; (c) by calculating the percentage that the amount determined in subsection (b) above is of the amount determined in subsection (a) above, and subtracting the same from one hundred (100%) percent; (d) by multiplying the resulting percentage figure obtained in subsection (c) above by the Current Population of such Entitlement Band, and then multiplying the product obtained by one hundred and twenty-eight (128) acres; and (e) subtracting from the result obtained in subsection (d) above the total acreage of Reserve Lands set apart for Entitlement Purposes from and after January 1, 1956.

Appears in 3 contracts

Sources: Saskatchewan Treaty Land Entitlement Framework Agreement, Saskatchewan Treaty Land Entitlement Framework Agreement, Saskatchewan Treaty Land Entitlement Framework Agreement