Examples of Sukuk Ijarah Trusteeship Agreement in a sentence
Based on the Ijarah Contract and the Sukuk Ijarah Trusteeship Agreement, the Issuer acts as the mu’jir (lessor) and the Sukuk Ijarah Holder who is represented by the Trustee acts as the mustajir (lessee).
Amount of the Remaining Ijarah Reward can decrease due to buy back in relation to repayment of Sukuk Ijarah as evidenced by Sukuk Ijarah Jumbo Certificates in accordance with provisions in Article 5 of the Sukuk Ijarah Trusteeship Agreement.
If the Trustee is negligent or default under the Sukuk Ijarah Trusteeship Agreement, then, the Article 1267 of the Indonesian Civil Code shall prevail, except the right of the Issuer to request for termination of the Sukuk Ijarah Trusteeship Agreement.
The entire value of the Remaining Ijarah Reward to be issued amounts to Rp. 300.000.000.000,00 (three hundred billion Rupiah), being 100% (one hundred percent) of the price of Remaining Ijarah Reward with due observance to the prevailing statutory regulations and to the terms as set out in Article 5 of the Sukuk Ijarah Trusteeship Agreement, as specified in the Sukuk Ijarah Jumbo Certificates issued by the Issuer.
Any and all assets of the Issuer, both movables and immovable, either currently existing or to be hereafter existing, except the Issuer’s assets that have been specially guaranteed or secured to its creditors as security for any debts of the Issuer to any and all its creditors who are not specially guaranteed or without any privileges including this Sukuk Ijarah in pari passu under Sukuk Ijarah Trusteeship Agreement, pursuant to Article 1131 and Article 1132 of the Indonesian Civil Code.
The amount of the Financial Compensation due to delay shall be computed on the basis of total days of delay under such formula to be prescribed in an Addendum to the Sukuk Ijarah Trusteeship Agreement.
If the Sukuk Trustee is negligent or commits a default and breach of any of the provisions of Sukuk Ijarah Trusteeship Agreement, then the provisions of Article 1267 of the Indonesian Civil Code shall prevail except for the right of the Issuer to petition for the annulment or discontinuation/termination of this Sukuk Ijarah Trusteeship Agreement.
The buy back may be done if the Issuer does not neglect or fail to make Yield on Ijarah Payment, provided however that such buy back does not cause Issuer to neglect or fail to comply with the provisions contained in this Sukuk Ijarah Trusteeship Agreement.
Pursuant to Ijarah Arrangement/Contract and Sukuk Ijarah Trusteeship Agreement duly represented by Sukuk Trustee lawfully acting as mustajir (lessee).
Thus, the Sukuk Ijarah Holder is represented by the Trustee as a party to the Sukuk Ijarah Trusteeship Agreement, and all documents and agreements related thereto together with annexes and amendments thereto that may be entered into in future and as a party who exercises or protects the interests of each pf the Sukuk Ijarah Holders before justice agencies including the commercial court or before the arbitration proceedings.