means the date designated by the Foundation, being not later than the date on which an application is approved by the Foundation and an initial Contribution has been made and is not earlier than the date an application is signed by the Subscriber.

means the child identified in the Agreement under age 14 at the time of enrolment and, if applicable, his successor.

means the funds contributed by a Subscriber to the Plan on behalf of a Beneficiary.

means Bank of N.T. Butterfield & Son Ltd. whose registered office is situated at 65 Front Street, Hamilton HM12, Bermuda or its successor which is responsible for receiving Deposits, deducting Membership Fees and Depository Fees and remitting the balance to the Scholarship Trustee and receiving Principal from the Scholarship Trustee upon the Ma [..]

means the fees specified in the section entitled "What Fees or Expenses are involved with a Heritage Plan?"

means the option automatically deemed selected by a Subscriber enroled in the Plan if the Self-Determined Option is not selected, entitling the Beneficiary to Scholarships.

means the option that may be selected by a Subscriber of an Agreement that is in good standing, no later than 60 days prior to the Maturity Date permitting additional Contributions to be made up to and including the 21st year following the year the Subscriber's Contract was entered into and providing for the return to the Subscriber of Princip [..]

means the year in which a Beneficiary is expected to begin the second year of post-secondary or tertiary education (usually the year in which the Beneficiary becomes 19 years of age) or such earlier or later year to which it is changed.