Common use of Early Settlement Fee Clause in Contracts

Early Settlement Fee. 0.5% per annum on the amount due to the Bank, calculated with respect to the period of such delay. 1% on the amount of the Additional Musharaka Unit(s) Payment 1. A certified copy of the Customer’s Civil ID/Passport. 2. Certified copies of the original salary slips and salary assignment letter. 3. A certified copy of the Customer's constitutional documents. 4. The Customer's bank account statement for the last 12 months (or if the Customer has not been in existence for that period, the Customer's bank account statements for the amount of time that they have been in existence). 5. The Customer's latest original audited financial statements (provided that the Customer has been incorporated for a period of 12 months or more). 6. Evidence of Takaful/insurance acceptable to the Bank in accordance with the Customer's obligations under this Agreement (where applicable). 7. A copy of any other Authorisation or other document, opinion or assurance which the Bank considers to be necessary or desirable in connection with the entry into and performance of the Customer and the transactions contemplated by this Agreement; 8. A certified copy of the Asset Sale and Purchase Agreement.