What is a use of proceeds?

This describes the assets to be purchased by the trust. The assets could be as simple as a Bank Deposit Note from the issuing institution or an undivided co-ownership interest in one or more pools of Canada Mortgage and Housing Corporation insured first mortgages on residential property situated in Canada. Many times when the trust purchases a Bank Deposit Note from the institution creating the trust, the bank will use the cash proceeds for General Corporate or Banking Purposes.

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