Mudaraba Agreement definition

Mudaraba Agreement has the meaning given to it in Condition 5 (The Trust); "Mudaraba Assets" has the meaning given to it in Condition 5 (The Trust); "Mudaraba Capital" has the meaning given to it in Condition 5 (The Trust);

Mudaraba Agreement has the meaning given to it in Condition 5; Mudaraba Assets has the meaning given to it in Condition 5; Mudaraba Capital has the meaning given to it in Condition 5; Mudaraba End Date means the date on which the Mudaraba ends, being the date on which all, but not some only, of the Certificates are redeemed in accordance with these Conditions; Mudaraba Profit has the meaning given to it the Mudaraba Agreement; Mudaraba Profit Distribution Date means 19 May and 19 November in each year, starting on the First Mudaraba Profit Distribution Date; Mudaraba Reserve has the meaning given to it in the Mudaraba Agreement; Mudareb has the meaning given to it in Condition 5; Non-Payment Election has the meaning given to it in Condition 8.2; Non-Payment Event has the meaning given to it in Condition 8.1; Non-Viability Event means that the Financial Regulator has notified DIB in writing that it has determined that DIB is, or will become, Non-Viable without (a) a Write-down; or (b) a public sector injection of capital (or equivalent support); Non-Viability Event Write-down Date shall be the date on which the Write-down will take place as specified in the Non-Viability Notice, which date shall be as determined by the Financial Regulator; Non-Viability Notice has the meaning given to it in Condition 11.2; Non-Viable means (a) insolvent, bankrupt, unable to pay a material part of its obligations as they fall due or unable to carry on its business or (b) any other event or circumstance which is specified as constituting non-viability by the Financial Regulator or in applicable banking regulations; Ordinary Shares means issued ordinary shares of DIB, having on the Issue Date a par value of AED1.00 each;

Mudaraba Agreement has the meaning given to it in Condition 5 (The Trust); Mudaraba Assets has the meaning given to it in Condition 5 (The Trust); Mudaraba Capital has the meaning given to it in Condition 5 (The Trust); Mudaraba End Date means the date on which the Mudaraba ends, being the date on which the Certificates are redeemed in whole but not in part in accordance with these Conditions; Mudaraba Profit has the meaning given to that term in the Mudaraba Agreement; Mudaraba Profit Distribution Date means 16 May and 16 November in each year, starting on (and including) the First Mudaraba Profit Distribution Date; Mudaraba Reserve has the meaning given to it in the Mudaraba Agreement; Mudareb has the meaning given to it in Condition 5 (The Trust);

Examples of Mudaraba Agreement in a sentence

• Nothing in this Condition 12.3 (Winding-up, dissolution or liquidation) shall, however, prevent the Trustee (or the Delegate) from taking such steps, actions or proceedings as described in Condition 12.3(a) (Proceedings for Winding-up) in respect of any payment obligations of the Bank arising from the Mudaraba Agreement or any other Transaction Document (including any damages awarded for breach of any obligations).

• Payments of Rab-al-Maal Mudaraba Profit (as defined in the Mudaraba Agreement) by the Bank (as Mudareb) are at the sole discretion of the Bank (as Mudareb) and may only be made in circumstances where a Non-Payment Event has not occurred.

• No such notice shall be given earlier than 90 days prior to the earliest date on which the Trustee or the Bank would be obliged to pay Additional Amounts or additional amounts under clause 5.11 of the Mudaraba Agreement.

• Under the terms of the Mudaraba Agreement, the Mudareb shall be expressly entitled to co-mingle its assets with the General Mudaraba Pool assets.

• Pursuant to the Mudaraba Agreement, the Rab-al-Maal will contribute the proceeds of the issue of the Certificates to the Mudareb, which proceeds will form the initial capital of the Mudaraba (as defined below) and which may be subject to change after the Issue Date in accordance with Condition 10.2 (Purchase) (the Mudaraba Capital).

More Definitions of Mudaraba Agreement

Mudaraba Agreement means the mudaraba agreement dated the Issue Date and made between the Trustee and DP World in connection with the Certificates;

Mudaraba Agreement means a mudaraba agreement dated on the Closing Date between the Issuer (in its capacity as Mudareb) and the Sukukholders' Agent.

Mudaraba Agreement means the mudaraba agreement dated 29/10/1441H (corresponding to 21 June 2020G) between the Issuer (acting as Mudareb) and the Sukukholders’ Agent (acting as rab-al-maal as agent on behalf of the Sukukholders);

Mudaraba Agreement means the agreement dated the Issue Date between KFH Tier 1 Sukuk Limited and the Bank appointing the Bank as Mudareb (as defined therein the ("Mudareb")).

Mudaraba Agreement means a mudaraba agreement dated 8 August 2017 entered into between the Trustee and SABB;

Mudaraba Agreement means the mudaraba agreement dated 20 July 2017 (corresponding to 26/10/1438H) between the Issuer (acting as Mudareb) and the Sukukholders' Agent (acting as rab-al-maal as agent on behalf of the Sukukholders);

Mudaraba Agreement means the agreement dated the Issue Date between NCB Tier 1 Sukuk Limited and the Bank under which the Bank has been appointed as Mudareb (as defined therein the (“Mudareb”));