Examples of Sukuk Proceeds in a sentence
The Issuer shall from time to time issue Sukuk Wakalah and the Sukukholders shall subscribe to the Sukuk Wakalah by paying the Sukuk Proceeds.
The Investment Plan means the requirement for the Investment Manager: (i) to invest the Sukuk Proceeds into a portfolio of Sukuk Contracts which generates returns at least equal to each relevant Periodic Distribution Amount for a period which is equal to or greater than the remaining duration of the Certificates which are outstanding at the time of the relevant investment; and (ii) to ensure satisfaction of the Underlying Value Conditions.
The remaining balance of the Sukuk Proceeds after investment into the Shariah-compliant Business shall be invested into the relevant Commodity Murabahah Investment.
The Sukuk Trustee (on behalf of the Sukukholders) will appoint WASH to act as its agent (Wakeel) to invest the Sukuk Proceeds in WASH initiatives 3.
Commodity Murabahah Investment The remaining balance of the Sukuk Proceeds shall be invested into the Commodity Murabahah Investment.
The Investment Wakeel shall invest at least 51% of the Sukuk Proceeds into the Shariah-compliant Business.
The Sukuk represents the Sukukholders’ undivid- ed and proportionate beneficial interest in the trust assets, comprising of the Sukuk Proceeds, underlying assets in the WASH initiatives including the rights, title, etc.
It should be documented that the drinking water system (hoses, tanks and bunkering systems) should secure the drinking water against contamination: - The bunkering system must be completely drained after bunkering (both to and from the supply vessel) to avoid stagnant water.- Permanent connections for other technical equipment to the pipe system for drinking water must be secured with the appropriate protection valve (BA Type protection valve) or similar solutions.
Tangible Assets The Investment Wakeel shall invest at least 33% of the Sukuk Proceeds into the Tangible Assets.
Under the Islamic principle of Wakalah Bi Al-Istithmar, the issuance of each tranche of the Sukuk Ihsan shall be effected as follows: (a) Pursuant to a Wakalah Agreement between the Sukuk Trustee (on behalf of the Sukukholders) and Ihsan, the Sukuk Trustee (on behalf of the Sukukholders) will appoint Ihsan to act as its Wakeel to invest the Sukuk Proceeds in Sukuk Investments.