Qp Date

Maa-nulth First Nations Final Agreement Act

[SBC 2007] CHAPTER 43

Schedule

Maa-nulth First Nations Final Agreement

CHAPTER 16 — CAPITAL TRANSFER AND NEGOTIATION LOAN REPAYMENT

16.1.0  CAPITAL TRANSFER

16.1.1 Subject to 16.1.2 and 16.2.2, the Capital Transfer from Canada to each Maa‑nulth First Nation will be paid in accordance with the applicable Capital Transfer Payment Plan.

16.1.2 If British Columbia or Canada acquires lands for a Maa‑nulth First Nation before the Effective Date in accordance with 2.10.26, the Capital Transfer payment amounts for the Effective Date and the first three anniversaries of the Effective Date in the Capital Transfer Payment Plan for that Maa‑nulth First Nation will be adjusted by deducting the amount paid for such lands in a manner described in the notes for finalizing the Capital Transfer Payment Plans.

16.2.0  NEGOTIATION LOAN REPAYMENT

16.2.1 Subject to 16.3.1, each Maa‑nulth First Nation will make negotiation loan repayments to Canada in accordance with the applicable Negotiation Loan Repayment Plan.

16.2.2 Canada may set off and deduct from a payment made in accordance with 16.1.1 the amount of a repayment to be made in accordance with 16.2.1 on the same date, except to the extent that the loan repayment amount has been prepaid in accordance with 16.3.1.

16.3.0  PREPAYMENTS

16.3.1 In addition to any negotiation loan repayment amount required in accordance with 16.2.1, a Maa‑nulth First Nation may make negotiation loan prepayments to Canada. All prepayments will be applied to the outstanding scheduled negotiation loan repayment amounts in consecutive order from the Effective Date. A Maa‑nulth First Nation will notify Canada of a prepayment at least 30 days before the date of that prepayment.

16.3.2 The "n" anniversary for which a prepayment is to be applied is the earliest anniversary for which a scheduled negotiation loan repayment amount, or a portion thereof, remains outstanding. Any loan prepayment applied to an outstanding negotiation loan repayment amount, or to a portion thereof, is credited at its future value, as of the "n" anniversary, determined in accordance with the following formula:

Future Value = Prepayment * (1+CR)K * (1+CR*H/365)

where,

"/" means divided by;

"*" means multiplied by;

"K" is the number of complete years between the date of the prepayment and the "n" anniversary;

"H" is one plus the number of days remaining in the period between the date of the prepayment and the "n" anniversary, once the number of complete years referred to in "K" above has been deducted; and

"CR" is 4.545 percent.

16.3.3 If the future value of the prepayment exceeds the outstanding amount of the negotiation loan repayment amount scheduled for the "n" anniversary, the excess is deemed to be a prepayment made on the "n" anniversary so that the future value of the excess is applied as of the next anniversary in a manner analogous to that described in this paragraph.

16.3.4 On receipt of a loan prepayment, Canada will issue a letter to the applicable Maa‑nulth First Nation setting out the amount of the prepayment received and the manner in which it will be applied.

SCHEDULE 1 — CAPITAL TRANSFER PAYMENT PLAN

Huu‑ay‑aht First Nations Capital Transfer Payment Plan

PAYMENT DATE PROVISIONAL PAYMENT

AMOUNT
Effective Date 4,236,880
First anniversary of Effective Date 2,713,319
Second anniversary of Effective Date 2,713,319
Third anniversary of Effective Date 2,713,319
Fourth anniversary of Effective Date 2,341,233
Fifth anniversary of Effective Date 2,341,233
Sixth anniversary of Effective Date 2,341,233
Seventh anniversary of Effective Date 2,341,233
Eighth anniversary of Effective Date 2,341,233
Ninth anniversary of Effective Date 2,341,233
   
Total payments* 26,424,233
* This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Capital Transfer Payment Plan.

Ka:'yu:'k't'h'/Che:k'tles7et'h' First Nations Capital Transfer Payment Plan

PAYMENT DATE PROVISIONAL PAYMENT

AMOUNT
Effective Date 3,257,135
First anniversary of Effective Date 2,295,355
Second anniversary of Effective Date 2,295,355
Third anniversary of Effective Date 2,295,355
Fourth anniversary of Effective Date 1,984,141
Fifth anniversary of Effective Date 1,984,141
Sixth anniversary of Effective Date 1,984,141
Seventh anniversary of Effective Date 1,984,141
Eighth anniversary of Effective Date 1,984,141
Ninth anniversary of Effective Date 1,984,141
   
Total payments* 22,048,046
* This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Capital Transfer Payment Plan.

Toquaht Nation Capital Transfer Payment Plan

PAYMENT DATE PROVISIONAL PAYMENT

AMOUNT
Effective Date 1,171,010
First anniversary of Effective Date 559,707
Second anniversary of Effective Date 559,707
Third anniversary of Effective Date 559,707
Fourth anniversary of Effective Date 434,104
Fifth anniversary of Effective Date 434,104
Sixth anniversary of Effective Date 434,104
Seventh anniversary of Effective Date 434,104
Eighth anniversary of Effective Date 434,104
Ninth anniversary of Effective Date 434,104
   
Total payments* 5,454,755
* This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Capital Transfer Payment Plan.

Uchucklesaht Tribe Capital Transfer Payment Plan

PAYMENT DATE PROVISIONAL PAYMENT

AMOUNT
Effective Date 1,213,341
First anniversary of Effective Date 768,312
Second anniversary of Effective Date 768,312
Third anniversary of Effective Date 768,312
Fourth anniversary of Effective Date 610,277
Fifth anniversary of Effective Date 610,277
Sixth anniversary of Effective Date 610,277
Seventh anniversary of Effective Date 610,277
Eighth anniversary of Effective Date 610,277
Ninth anniversary of Effective Date 610,277
   
Total payments* 7,179,939
* This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Capital Transfer Payment Plan.

Ucluelet First Nation Capital Transfer Payment Plan

PAYMENT DATE PROVISIONAL PAYMENT

AMOUNT
Effective Date 3,262,454
First anniversary of Effective Date 2,754,599
Second anniversary of Effective Date 2,754,599
Third anniversary of Effective Date 2,754,599
Fourth anniversary of Effective Date 2,387,004
Fifth anniversary of Effective Date 2,387,004
Sixth anniversary of Effective Date 2,387,004
Seventh anniversary of Effective Date 2,387,004
Eighth anniversary of Effective Date 2,387,004
Ninth anniversary of Effective Date 2,387,004
   
Total payments* 25,848,275
* This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Capital Transfer Payment Plan.

NOTES FOR FINALIZING THE CAPITAL TRANSFER PAYMENT PLANS

These notes do not form part of this Agreement. The purpose of these notes is to enable the Parties to calculate on the Revision Date the amounts to be shown in the final version of this Schedule. Interest at a rate of 4.545% per annum beginning on Effective Date and compounded annually was used to establish the provisional payment amounts in each Capital Transfer Payment Plan.

1. In these notes,

"Revision Date" means the date 30 days before the Effective Date, or another date if the Parties agree.

"Signing Date" means the date on which this Agreement is signed by the Parties after ratification of this Agreement by the Maa‑nulth First Nations in accordance with 28.2.1.

"Transition Date" means the date 15 months after the Signing Date.

2. If the period between the Signing Date and the Effective Date is less than 15 months, on the Revision Date each provisional payment amount in the Capital Transfer Payment Plans is adjusted as follows:

provisional payment amount * M/L

where,

"/" means divided by;

"*" means multiplied by;

"L" is the value of FDDIPI for the first quarter of 2006 published by Statistics Canada at the same time that the values used in M are published; and

"M" is the first published value of FDDIPI for the latest calendar quarter for which Statistics Canada has published a FDDIPI before the Revision Date.

3. If the period between the Signing Date and the Effective Date is greater than 15 months, on the Revision Date each provisional payment amount in the Capital Transfer Payment Plans is adjusted as follows:

provisional payment amount * [(P/Q) * (1 + CR)Y * (1+CR*D/365)]

where:

"Q" is the value of FDDIPI for the first quarter of 2006 published by Statistics Canada at the same time that the values used in P are published;

"P" is the first published value of FDDIPI for the latest calendar quarter for which Statistics Canada has published a FDDIPI before the Transition Date;

"Y" means the number of complete years between the Transition Date and the Effective Date;

"D" is the number of days remaining in the period between the Transition Date and the Effective Date, after deducting the complete years in that period that have been taken into account in the determination of Y; and

"CR" is 4.545 percent.

The purpose of applying this paragraph is to limit the period for which the Capital Transfer is adjusted by FDDIPI to the period that ends on the date that is 15 months after the Signing Date, and to lengthen the period of which the Capital Transfer is adjusted by the calculation rate to the period between the date that is 15 months after the Signing Date and the Effective Date.

4. If British Columbia or Canada acquires lands for a Maa‑nulth First Nation in accordance with 2.10.26 and 16.1.2, on the Revision Date the Capital Transfer payment amounts for the Effective Date and the first three anniversaries of the Effective Date in the Capital Transfer Payment Plan for that Maa‑nulth First Nation will be adjusted by deducting the amount paid (as adjusted for inflation in the equation below), as described in the following equation. This deduction will occur after the provisional payment plan has been adjusted for inflation as described in these notes in 2 and 3 above.

Tn = Cn - (0.25 * R * (1+CR)n)

where,

"Tn" is the Capital Transfer payment amount after adjusting for the land acquisition on the `n'th anniversary of Effective Date;

"Cn" is the Capital Transfer payment amount before adjusting for the land acquisition on the `n'th anniversary of Effective Date;

"n" is the `n'th anniversary of Effective Date;

"CR" is 4.545 percent;

"*" means multiplied by;

"R" is as follows:

If the period between the Signing Date and the Effective Date is less than 15 months, then "R" is the amount paid by British Columbia or Canada to purchase lands in accordance with 2.10.26, multiplied by M/W,

where,

"M" is the first published value of FDDIPI for the latest calendar quarter for which Statistics Canada has published a FDDIPI before the Revision Date; and

"W" is the value of FDDIPI published by Statistics Canada at the same time that the FDDIPI value above in "M" was published, for the calendar quarter immediately preceding that calendar quarter in which the land was purchased.

If the period between the Signing Date and the Effective Date is greater than 15 months, then "R" is the amount paid by British Columbia or Canada to purchase lands in accordance with 2.10.26, multiplied by:

P/V * (1 + CR)Y * (1+CR*D/365)

where,

"P" is the first published value of FDDIPI for the latest calendar quarter for which Statistics Canada has published a FDDIPI before the Transition Date;

"V" is the value of FDDIPI published by Statistics Canada at the same time that the FDDIPI value above in "P" was published, for the calendar quarter immediately preceding that calendar quarter in which the land was purchased;

"Y" means the number of complete years between the Transition Date and the Effective Date;

"D" is the number of days remaining in the period between the Transition Date and the Effective Date, after deducting the complete years in that period that have been taken into account in the determination of Y; and

"CR" is 4.545 percent.

5. On the Revision Date, following the adjustment performed in accordance with either paragraph 2 or 3 of these notes, as applicable, and paragraph 4, if applicable, the Capital Transfer Payment Plans are amended to incorporate the adjusted figures and the headings in the Capital Transfer Payment Plans above are replaced by the following headings:

Ka:'yu:'k't'h'/Che:k'tles7et'h' First Nations Capital Transfer Payment Plan

PAYMENT DATE PAYMENT AMOUNT
  CANADA WILL PAY

Ucluelet First Nation Capital Transfer Payment Plan

PAYMENT DATE PAYMENT AMOUNT
  CANADA WILL PAY

Toquaht Nation Capital Transfer Payment Plan

PAYMENT DATE PAYMENT AMOUNT
  CANADA WILL PAY

Uchucklesaht Tribe Capital Transfer Payment Plan

PAYMENT DATE PAYMENT AMOUNT
  CANADA WILL PAY

Huu‑ay‑aht First Nations Capital Transfer Payment Plan

PAYMENT DATE PAYMENT AMOUNT
  CANADA WILL PAY

SCHEDULE 2 — NEGOTIATION LOAN REPAYMENT PLAN

Huu‑ay‑aht First Nations Negotiation Loan Repayment Plan

PAYMENT DATE PROVISIONAL LOAN

REPAYMENT AMOUNT
Effective Date 343,228
First anniversary of Effective Date 343,228
Second anniversary of Effective Date 343,228
Third anniversary of Effective Date 343,228
Fourth anniversary of Effective Date 343,228
Fifth anniversary of Effective Date 343,228
Sixth anniversary of Effective Date 343,228
Seventh anniversary of Effective Date 343,228
Eighth anniversary of Effective Date 343,228
Ninth anniversary of Effective Date 343,228
   
Total repayments* 3,432,280
* This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Negotiation Loan Repayment Plan.

Ka:'yu:'k't'h'/Che:k'tles7et'h' First Nations Negotiation Loan Repayment Plan

PAYMENT DATE PROVISIONAL LOAN

REPAYMENT AMOUNT
Effective Date 291,974
First anniversary of Effective Date 291,974
Second anniversary of Effective Date 291,974
Third anniversary of Effective Date 291,974
Fourth anniversary of Effective Date 291,974
Fifth anniversary of Effective Date 291,974
Sixth anniversary of Effective Date 291,974
Seventh anniversary of Effective Date 291,974
Eighth anniversary of Effective Date 291,974
Ninth anniversary of Effective Date 291,974
   
Total repayments* 2,919,740
*This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Negotiation Loan Repayment Plan.

Toquaht Nation Negotiation Loan Repayment Plan

PAYMENT DATE PROVISIONAL LOAN

REPAYMENT AMOUNT
Effective Date 212,504
First anniversary of Effective Date 116,553
Second anniversary of Effective Date 116,553
Third anniversary of Effective Date 116,553
Fourth anniversary of Effective Date 116,553
Fifth anniversary of Effective Date 116,553
Sixth anniversary of Effective Date 116,553
Seventh anniversary of Effective Date 116,553
Eighth anniversary of Effective Date 116,553
Ninth anniversary of Effective Date 116,553
   
Total repayments* 1,261,480
*This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Negotiation Loan Repayment Plan.

Uchucklesaht Tribe Negotiation Loan Repayment Plan

PAYMENT DATE PROVISIONAL LOAN

REPAYMENT AMOUNT
Effective Date 236,483
First anniversary of Effective Date 136,757
Second anniversary of Effective Date 136,757
Third anniversary of Effective Date 136,757
Fourth anniversary of Effective Date 136,757
Fifth anniversary of Effective Date 136,757
Sixth anniversary of Effective Date 136,757
Seventh anniversary of Effective Date 136,757
Eighth anniversary of Effective Date 136,757
Ninth anniversary of Effective Date 136,757
   
Total repayments* 1,467,296
* This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Negotiation Loan Repayment Plan.

Ucluelet First Nation Negotiation Loan Repayment Plan

PAYMENT DATE PROVISIONAL LOAN

REPAYMENT AMOUNT
Effective Date 366,504
First anniversary of Effective Date 366,504
Second anniversary of Effective Date 366,504
Third anniversary of Effective Date 366,504
Fourth anniversary of Effective Date 366,504
Fifth anniversary of Effective Date 366,504
Sixth anniversary of Effective Date 366,504
Seventh anniversary of Effective Date 366,504
Eighth anniversary of Effective Date 366,504
Ninth anniversary of Effective Date 366,504
   
Total repayments* 3,665,040
* This line is included for informational purposes only and the amount represents the sum of the ten capital transfer amounts described in the applicable Negotiation Loan Repayment Plan.

NOTES FOR FINALIZING THE NEGOTIATION LOAN REPAYMENT PLAN

These notes do not form part of this Agreement. The purpose of these notes is to enable the Parties to calculate on the Revision Date the amounts to be shown in the final version of this Schedule.

The provisional loan repayment amounts are based on total outstanding negotiation loans and interest accrued up to March 31, 2006. Final negotiation loan repayment amounts, including any further loans made and interest accrued after March 31, 2006, will be calculated and included in the final loan repayment schedules in accordance with the following notes.

In these notes:

"Revision Date" has the same meaning as in Schedule 1 of this Chapter.

1. Before the Revision Date, Canada and the Maa‑nulth First Nations will jointly produce a document capturing the final loan and interest amounts as of the Effective Date and setting out the amounts of all the loans from Canada to the Maa‑nulth First Nations, all interest accrued to date, and the relevant terms and conditions of those loans.

2. On the Revision Date, the provisional negotiation loan repayment amounts in the Negotiation Loan Repayment Plans are adjusted to final negotiation loan repayment amounts by:

a) determining the amount of the additional negotiation loans made by Canada to each Maa‑nulth First Nation which were not included in the calculation of the provisional negotiation loan repayment amounts and any applicable additional interest accrued since the provisional negotiation loan and interest amounts were calculated; and

b) prorating and adjusting the additional amounts determined in accordance with paragraph 2a) for that Maa‑nulth First Nation over the applicable Negotiation Loan Repayment Plan such that the amounts in the final Negotiation Loan Repayment Plans are proportional to the amounts in the provisional Negotiation Loan Repayment Plan and such that each final Negotiation Loan Repayment Plan incorporates interest on unpaid loan balances at 4.545% per annum beginning on the Effective Date and compounded annually which is the same rate of interest used to establish the provisional Negotiation Loan Repayment Plan.

3. On the Revision Date, following the adjustment performed in accordance with paragraph 2, the Negotiation Loan Repayment Plans are amended to incorporate the adjusted figures and the headings in each Negotiation Loan Repayment Plan are replaced by the following headings:

PAYMENT DATE NEGOTIATION LOAN

REPAYMENT AMOUNT

Contents  |  Sections 1 to 31  |  Schedule - Contents  |  Schedule - Preamble  |  Schedule - Chapter 1  |  Schedule - Chapter 2  |  Schedule - Chapter 3  |  Schedule - Chapter 4  |  Schedule - Chapter 5  |  Schedule - Chapter 6  |  Schedule - Chapter 7  |  Schedule - Chapter 8  |  Schedule - Chapter 9  |  Schedule - Chapter 10  |  Schedule - Chapter 11  |  Schedule - Chapter 12  |  Schedule - Chapter 13  |  Schedule - Chapter 14  |  Schedule - Chapter 15  |  Schedule - Chapter 16  |  Schedule - Chapter 17  |  Schedule - Chapter 18  |  Schedule - Chapter 19  |  Schedule - Chapter 20  |  Schedule - Chapter 21  |  Schedule - Chapter 22  |  Schedule - Chapter 23  |  Schedule - Chapter 24  |  Schedule - Chapter 25  |  Schedule - Chapter 26  |  Schedule - Chapter 27  |  Schedule - Chapter 28  |  Schedule - Chapter 29  |  Appendix - Contents  |  Appendix - Introduction  |  Appendix A  |  Appendix B  |  Appendix C  |  Appendix D  |  Appendix E  |  Appendix F  |  Appendix G  |  Appendix H  |  Appendix I  |  Appendix J  |  Appendix K  |  Appendix L  |  Appendix M  |  Appendix N  |  Appendix O  |  Appendix P  |  Appendix Q  |  Appendix R  |  Appendix S  |  Appendix T  |  Appendix U  |  Appendix V  |  Appendix W  |  Appendix X  |  Appendix Y