IIBA Implementation Funding Clause Samples

IIBA Implementation Funding. 15.2.1 The Government of Canada shall provide eight million, three hundred thousand dollars ($8,300,000), adjusted pursuant to section 15.2.5, to implement the IIBA (the “IIBA Implementation Funds”). These Funds shall be allocated and expended in accordance with the Implementation Funding Schedule attached as Schedule 15-1. 15.2.2 The Parties may amend Schedules 15-1 and 15-2, and the expenditure of IIBA Implementation Funds pursuant to their annual reviews, as set forth in subsection 15.4.1(k), or as they otherwise agree. For greater certainty, any amendment of Schedules 15-1 and 15-2 shall be made in accordance with section 2.4.1. 15.2.3 IIBA Implementation Funds identified in Schedule 15-1 shall be held and administered as follows: (a) CWS shall hold and administer IIBA Implementation Funds in the amount of two million, seven hundred thousand dollars ($2,700,000) to pay the costs of the ACMCs (lines 1 and 2 of Schedule 15-1), student initiatives (line 6), Inuit research assistants (line 7) and compensation for bear kills (line 8); and (b) NTI shall hold and administer IIBA Implementation Funds in the amount of five million six hundred thousand dollars ($5,600,000) to pay the costs of the Inventories (line 3 of Schedule 15-1), the Interpretative Materials (line 4), the Inuit Tourism Providers Fund (line 5), and the development of environmentally sustainable tourism and guiding in and around Niginganiq NWA and ▇▇▇▇▇ River (line 9), and Akpait NWA, Qaqulluit NWA and Qikiqtarjuaq (line 10). 15.2.4 The Government of Canada shall pay the IIBA Implementation Funds identified in subsection 15.2.2(b) to NTI in accordance with the Funding Schedule in Schedule 15-1, with funding to be initiated as soon as reasonably practicable after the Effective Date and with funding to be paid in monthly installments. In the event that future Government of Canada policy provides for the payment of installments on a quarterly basis, payments shall thereafter be made on a quarterly basis. 15.2.5 IIBA Implementation Funds paid after the Effective Date shall be adjusted using the Final Domestic Demand Implicit Price Index (FDDIPI), in accordance with standard Government of Canada application of this Index (adjustments in the second year and following). 15.2.6 The parties acknowledge the DIO’s view that FDDIPI does not accurately reflect northern circumstances. In the event that future Government of Canada policy provides for the application, in the NSA, of an index other then FDDIP...