Constructive Liquidation definition

Constructive Liquidation means the realisation of the Value of the Mudaraba Portfolio in relation to a Restricted Mudaraba Contract should such Mudaraba Portfolio be liquidated by the Mudarib on the relevant Constructive Liquidation Distribution Date;
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Constructive Liquidation means assessing the value of Mudaraba Assets and their impact on profit and loss of the NBC Sukuk using generally accepted accounting principles, rather than determining profit and loss through the direct sale (actual liquidation) of the Mudaraba Assets. Contribution and Expense Allocation Policy means the contribution and expenses allocation policy in relation to the NBC Sukuk, as determined by the Company, as PSIA Manager, in the best interest of the Sukuk Holders. CRS means the agreed global standard for the automatic exchange of financial account information (“AEOI”) developed by the Organisation for Economic Co-operation and Development (“OECD”) in February 2014. Declaration of a Promise to Purchase means that Declaration entered into by the Company in favour of the Sukuk Holders dated as of the initial issue date in which it has promised to purchase for the Redemption Amount:
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Examples of Constructive Liquidation in a sentence

  • The Sukuk Holder Profit Entitlement will only be determined and distributed in accordance with the Profit Distribution Policy only if there is a realization of the Distributable Profit (either through actual or Constructive Liquidation), and subject to such amounts being included in the calculation of Distributable Profit for the Financial Year in which they are realized.

  • If the Mudareb has notified the Rab-al-Maal of the date fixed for liquidation of the Mudaraba pursuant to Clause 7.3(a) (Final Constructive Liquidation at Mudareb’s option), Clause 7.3(b) (Final Constructive Liquidation due to taxation) or Clause 7.3(c) (Final Constructive Liquidation for Capital Event) and prior to such liquidation a Non-Viability Event occurs, the relevant notice of liquidation shall be automatically rescinded and shall be of no force and effect.

  • Any such final constructive liquidation in whole in accordance with Clause 7.3(a) (Final Constructive Liquidation at Mudareb’s option), Clause 7.3(b) (Final Constructive Liquidation due to taxation) or Clause 7.3(c) (Final Constructive Liquidation for Capital Event) will also be subject to the Liquidation Proceeds being equal to such minimum amount as is set out in Clause 7.3(e) (Shortfall) (the application of such thresholds being referred to as the “Liquidation Condition”).