Kitsumkalum Agreement-in-Principle
Negotiation Loan Repayment
5.
Before the Final Agreement, Canada will determine the outstanding amount of negotiation loans
made by Canada to Kitsumkalum, including any interest that may have accrued to that date, in
accordance with First Nation Negotiation Support Agreements.
6.
When it determines the outstanding negotiation loan amount in paragraph 5, Canada will
prepare a provisional schedule for the repayment of the outstanding negotiation loan amount,
such that the repayments will be proportional to the provisional schedule of payments referred
to in paragraph 2.
7.
This provisional schedule will use an interest rate equal to the discount rate referred to in
subparagraph 2.c).
8.
A final schedule of loan repayment amounts will be determined on the Revision Date by:
a)
determining the amount of any additional negotiation loans made by Canada to
Kitsumkalum after the initialling of the Final Agreement and before the Effective Date,
and any further interest that may have accrued in respect of any negotiation loans, in
accordance with First Nation Negotiation Support Agreements; and
b)
pro-rating the additional amount in subparagraph 8(a) over the provisional repayment
schedule.
9.
Canada may deduct any amounts due pursuant to the final schedule of loan repayments referred
to in paragraph 8 from Capital Transfer payments payable to Kitsumkalum in accordance with
paragraph 4.
10.
Kitsumkalum may pay to Canada, in advance and on account, without bonus or penalty,
amounts that will be credited against the loan repayment amounts set out in paragraph 8.
Revenue Sharing
11.
Before the Final Agreement, the Parties will negotiate and attempt to reach agreement on
sharing with Kitsumkalum agreed-upon resource revenues originating in British Columbia and
flowing to Canada or British Columbia.
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