Profit Distribution Date definition

Profit Distribution Date means the date on which the Management Company decides to distribute the profits (if any).

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Profit Distribution Date means the 20th day of March, June, September and December in each year or, if such Profit Distribution Date is not a Business Day, the next following Business Day;

Profit Distribution Date means the date on which the Management Company decides todistribute the profits (if any).

Examples of Profit Distribution Date in a sentence

• In the absence of notice of such Non-Payment Election or Non-Payment Event, as the case may be, having been given in accordance with this Condition 8.3, the fact of non-payment of the relevant Periodic Distribution Amount on the relevant Mudaraba Profit Distribution Date or Mudaraba End Date, as the case may be, shall be evidence of the occurrence of a Non-Payment Election or a Non-Payment Event, as the case may be.

• All Sukuk Profit Distribution Payments payable shall be calculated on the basis of a year of three hundred and sixty five (365) days and the actual number of days elapsed from and including the Issue Date or, as the case may be, the previous Sukuk Profit Distribution Date up to but excluding the Sukuk Profit Distribution Date on which the Sukuk Profit Distribution Payment is paid and will be rounded upwards or downwards to the nearest sen.

• The Mudareb may in its sole discretion elect that the Rab-al-Maal Mudaraba Profit (in whole or in part) will not be paid to the Rab-al-Maal on any Mudaraba Profit Distribution Date, provided that the foregoing in this Clause 5.6 (Non-Payment Election) shall not apply in respect of Rab-al-Maal Final Mudaraba Profit payable on any Mudaraba End Date (any such election being a “Non-Payment Election”).

• On the Profit Distribution Date, the Wakeel undertakes to transfer the Net Proceeds of the Relevant Wakala Savings Account to any designated account (including but not limited to the Wakala Savings Account) as instructed by the Muwakkil in the Wakala Savings Account opening form.

• In the absence of notice of such Non-Payment Election or Non-Payment Event, as the case may be, having been given in accordance with this Condition 8.3 (Effect of Non-Payment Event or Non-Payment Election), the fact of non-payment of the Relevant Rab-al-Maal Mudaraba Profit Amount (or any part thereof) on the relevant Mudaraba Profit Distribution Date or Mudaraba End Date (as the case may be) shall be evidence of the occurrence of a Non-Payment Election or a Non-Payment Event, as the case may be.

• The Wakala Profit will be calculated on actual balance in the Wakala Savings Account and the Wakeel will pay, provided that the withdrawal restrictions haven been met by the Mwakkil, the Actual Wakala Profit to the Muwakkil at the Profit Distribution Date.

More Definitions of Profit Distribution Date

Profit Distribution Date means the date on which the Ma nagement Company dec ides to distribute the profits (if any).

Profit Distribution Date means the date or dates by reference to which a Profit distribution

Profit Distribution Date means the dates on which profit shall be distributable to the account holder by Rafa National Savings subject to the provisions of rule 9 in accordance with the procedures determined by the Rafa National Savings under the guidance of the Sharia Board;