Interest Bearing Account. If for any reason, Funds were provided to the Recipient before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest-bearing account solely in the name of the Recipient at a branch of a Canadian financial institution in Ontario. The Recipient will hold the Funds plus any Interest Earned in trust for the Province until the Funds are used in accordance with the Agreement.
Appears in 24 contracts
Samples: Transfer Payment Agreement, Transfer Payment Agreement, Transfer Payment Agreement
Interest Bearing Account. If for any reason, the Province provides Funds were provided to the Recipient before the Recipient’s immediate need for the Funds, the Recipient will place the Funds in an interest-bearing account solely in the name of the Recipient at a branch of a Canadian financial institution in Ontario. The Recipient will hold the Funds plus any Interest Earned in trust for the Province until the Funds are used in accordance with the Agreement.
Appears in 2 contracts
Samples: Transfer Payment Agreement, Transfer Payment Agreement