Wakala Transaction definition

Wakala Transaction means the Wakala Amount(s) invested by Muwakkil from time to time.
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Wakala Transaction means, the appointment of the Customer as the agent of the Bank for the issuance of a Letter of Credit to a specified third party by the Bank as mentioned in the Transaction Notice.
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Examples of Wakala Transaction in a sentence

  • Any termination shall be without prejudice to the rights and obligations of either party in relation to any outstanding Wakala Transaction concluded prior to the date of termination.

  • The Muwakkil shall provide the Wakil with certified true original specimen signature(s) of the individual(s) authorized to sign this Agreement on its behalf and all other documents required in connection herewith as may be requested by the Wakil prior to entry into the first Wakala Transaction and as may be reasonably requested from time to time thereafter.

  • The conditions of this Agreement shall remain applicable until such Wakala Transaction is settled and each party has received all amounts due to it pursuant to the Wakala Transaction..

  • Notwithstanding Clause 4.6 (No withdrawal), the Muwakkil may, during a Wakala Transaction Period, send by way of the ila App a notice to the Wakil requesting that one or more Wakala Investments be terminated early prior to the Maturity Date (an “Early Termination Request”), provided that the Wakil shall not be under any obligation to accept or to take any action whatsoever in relation to such Early Termination Request.

  • If the Wakil, at any time during the Wakala Transaction Period, determines that the Actual Profit Rate in relation to a Wakala Investment, may be lower than the Anticipated Profit Rate, the Wakil shall as soon as practicable notify the Muwakkil thereof by way of the ila App and indicate the revised Anticipated Profit Rate which the Wakil estimates that it will be able to achieve in relation to the remaining period of the relevant Wakala Investment (the “Revised Anticipated Profit Rate”).

  • The conditions of this Agreement shall remain applicable until such Wakala Transaction is settled and each party has received all amounts due to it pursuant to the Wakala Transaction.

  • If the Actual Profit Rate is equal to or greater than the Anticipated Profit Rate, the Wakil shall pay to the Muwakkil an amount equal to the aggregate of (i) the Investment Amount and (ii) an amount equal to the Investment Amount multiplied by the Anticipated Profit Rate and the number of days in the relevant Wakala Transaction Period and divided by 360 or 365 depending on the day count convention for the corresponding Specified Currency as determined by the Wakil.

  • The ongoing use of this area is under continual review with a planned date to deescalate being confirmed.DToCs and Stranded PatientsThe DToC rate for January has highlighted a significant increase with a rate reported of 8.33%.

  • Hugo Toupin explains the geopolitical stakes of hydrocarbon resources by the fact that these fossil energies (hydrocarbons) are unequally distributed in the world and therefore generate many tensions and covetousness.14 There are major security issues surrounding hydrocarbons.

  • In such cases the rights and responsibilities arising from that transaction shall be assumed by the Customer; and any intended effect of the transaction entered into by the Bank shall be binding on the Customer.1.3.1.11 The Bank may at times, simultaneously undertake to act as an agent for more than one Customer in a Wakala Transaction.

Related to Wakala Transaction

  • M&A Transaction means (a) a transaction in which all or substantially all of the assets to which the subject matter of this Agreement relates are acquired by or assigned to party that is not an Affiliate, or (b) a sale of all or substantially all of the share capital of BioLine (or its Affiliates), (c) the merger of BioLine (or its Affiliates) with any other entity, or any other similar corporate action, except an internal reorganization of BioLine (or its Affiliates) for tax-related reasons otherwise.

  • Retail transaction means the purchase of prepaid wireless telecommunications service from a seller for any purpose other than resale.

  • SPAC Transaction means a transaction or series of related transactions by merger, consolidation, share exchange or otherwise of the Company with a publicly traded “special purpose acquisition company” or its subsidiary (collectively, a “SPAC”), immediately following the consummation of which the common stock or share capital of the SPAC or its successor entity is listed on the Nasdaq Stock Market, the New York Stock Exchange or another exchange or marketplace approved by the Board of Directors, including a majority of the Preferred Directors.

  • Pawn transaction means the same as that term is defined in Section 13-32a-102.

  • Void Transaction means any transaction wherein the transaction has taken place but has been cancelled /rejected /unsuccessful by the Alliance Partner.

  • Factoring Transaction means any transaction or series of transactions that may be entered into by the Borrower or any Restricted Subsidiary pursuant to which the Borrower or such Restricted Subsidiary may sell, convey, assign or otherwise transfer Securitization Assets (which may include a backup or precautionary grant of security interest in such Securitization Assets so sold, conveyed, assigned or otherwise transferred or purported to be so sold, conveyed, assigned or otherwise transferred) to any Person other than a Receivables Subsidiary.

  • Roll-Up Transaction means a transaction involving the acquisition, merger, conversion or consolidation either directly or indirectly of the Company and the issuance of securities of a Roll-Up Entity to the Shareholders. Such term does not include:

  • Merger Transaction means any merger, acquisition or similar transaction involving a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act.

  • Merger Transactions means the Merger and the other transactions relating thereto or contemplated by the Merger Agreement.

  • Public-finance transaction means a secured transaction in connection with which:

  • Hostile Acquisition means (a) the acquisition of the Equity Interests of a Person through a tender offer or similar solicitation of the owners of such Equity Interests which has not been approved (prior to such acquisition) by the board of directors (or any other applicable governing body) of such Person or by similar action if such Person is not a corporation and (b) any such acquisition as to which such approval has been withdrawn.

  • Restructuring Transaction means a tax free distribution under section 355 of the internal revenue code and includes tax free transactions under section 355 of the internal revenue code that are commonly referred to as spin offs, split ups, split offs, or type D reorganizations.

  • Acquisition Transaction has the meaning set forth in Section 5.09(a).

  • Unfriendly Acquisition any acquisition that has not, at the time of the first public announcement of an offer relating thereto, been approved by the board of directors (or other legally recognized governing body) of the Person to be acquired; except that with respect to any acquisition of a non-U.S. Person, an otherwise friendly acquisition shall not be deemed to be unfriendly if it is not customary in such jurisdiction to obtain such approval prior to the first public announcement of an offer relating to a friendly acquisition.

  • Company Acquisition Agreement has the meaning set forth in Section 5.04(a).

  • Proposed Acquisition Transaction means, with respect to a SpinCo, a transaction or series of transactions (or any agreement, understanding or arrangement, within the meaning of Section 355(e) of the Code and Treasury Regulations Section 1.355-7, or any other Treasury Regulations promulgated thereunder, to enter into a transaction or series of transactions), whether such transaction is supported by the management or shareholders of such SpinCo, is a hostile acquisition, or otherwise, as a result of which such SpinCo would merge or consolidate with any other Person or as a result of which any Person or Persons would (directly or indirectly) acquire, or have the right to acquire, from such SpinCo and/or one or more holders of outstanding shares of Capital Stock of such SpinCo, a number of shares of Capital Stock of such SpinCo that would, when combined with any other changes in ownership of Capital Stock of such SpinCo pertinent for purposes of Section 355(e) of the Code, comprise 45% or more of (a) the value of all outstanding shares of stock of such SpinCo as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series, or (b) the total combined voting power of all outstanding shares of voting stock of such SpinCo as of the date of such transaction, or in the case of a series of transactions, the date of the last transaction of such series. Notwithstanding the foregoing, a Proposed Acquisition Transaction shall not include (i) the adoption by such SpinCo of a shareholder rights plan or (ii) issuances by such SpinCo that satisfy Safe Harbor VIII (relating to acquisitions in connection with a person’s performance of services) or Safe Harbor IX (relating to acquisitions by a retirement plan of an employer) of Treasury Regulations Section 1.355-7(d). For purposes of determining whether a transaction constitutes an indirect acquisition, any recapitalization resulting in a shift of voting power or any redemption of shares of stock shall be treated as an indirect acquisition of shares of stock by the non-exchanging shareholders. This definition and the application thereof is intended to monitor compliance with Section 355(e) of the Code and shall be interpreted accordingly. Any clarification of, or change in, the statute or Treasury Regulations promulgated under Section 355(e) of the Code shall be incorporated into this definition and its interpretation.

  • Financing Transaction means a transaction in which a licensed provider obtains financing from a financing entity including any secured or unsecured financing, any securitization transaction, or any securities offering which is either registered or exempt from registration under federal and state securities law.