Mudareb definition

Mudareb has the meaning given to it in Condition 5 (The Trust);
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Mudareb means the Issuer in its capacity as mudareb under the Mudaraba Agreement;
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Mudareb means DP World in its capacity as mudareb under the Mudaraba Agreement;
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Examples of Mudareb in a sentence

  • The Mudareb shall not have any obligation to make any subsequent payment in respect of such unpaid profit (whether from its own cash resources, from the Mudaraba Reserve (as defined below) or otherwise).

  • Dissolution payments, redemption and variation by the Trustee and the Mudareb The Mudaraba is a perpetual arrangement with no fixed end date.

  • 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.

  • If the Mudareb is able to provide such proof, Certificateholders may lose all or some of their investment.

  • 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).

  • Furthermore, whilst the Mudareb has agreed in the Mudaraba Agreement to ensure that the Mudaraba Capital is invested in accordance with the Investment Plan (and with the degree of skill and care that it would exercise in respect of its own assets), the Mudaraba Agreement also provides that there is no guarantee of any return from the Mudaraba Assets.

  • If the Trustee is substituted in accordance with Condition 12.2 (Trustee Events), the Substituted Trustee will be required to open a new transaction account in London in its name with the Principal Paying Agent into which the Mudareb will pay all amounts due to the Trustee under the Mudaraba Agreement from the date of substitution onwards, and references in these Conditions to the “Transaction Account” will be construed accordingly.

  • Periodic payments by the Trustee Unless a Non-Payment Event or a Non-Payment Election has occurred, prior to each Periodic Distribution Date, the Mudareb shall distribute the profit generated by the Mudaraba to both the Trustee and the Mudareb in accordance with an agreed profit sharing ratio (99 per cent.

  • Accordingly, potential investors are advised that any claim by or on behalf of the Trustee for the Mudaraba Capital following any Dissolution Event may be reduced if and to the extent that the Mudareb is able to prove that any losses to the Mudaraba Capital were not caused by: (i) the Mudareb's breach of the Mudaraba Agreement; or (ii) the Mudareb's gross negligence, wilful misconduct or fraud.


More Definitions of Mudareb

Mudareb means the Issuer in its capacity as a mudareb for the Sukukholders.
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Mudareb means the Issuer in its capacity as mudareb of the Mudaraba Sukuk;
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Mudareb shall include a reference to The National Commercial Bank acting in any capacity;
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