Amendment to Clause 5. 1 of the Agreement The first sentence of Clause 5.1 of the Agreement is hereby amended as follows: The initial term of this Agreement shall be for a period of twenty (20) years commencing on the Original Commencement Date and expiring on December 31, 2038, subject to earlier termination in accordance with the terms of this Agreement (the “Initial Term”).
Amendment to Clause 5. (i) In sub-clause 5.3.1, the following new sentence be and is hereby incorporated in the beginning as the first sentence:−
5.3.1 The Trustee shall hold and stand possessed of the Fund Property that may from time to time hereafter be vested in the Trustee upon trust as a single common fund."
(ii) In sub-clause 5.3.2, reference to "Regulation 61(2)(e)(ii)" be and is hereby replaced with reference to "Regulation 44(3)(e)(ii)".
Amendment to Clause 5. 3. Clause 5.3 of the Loan Agreement is hereby amended to add the following sentence to the end of Clause 5.3: “The Borrower and NNA may immediately terminate this Agreement at any time by written agreement between the parties.”
Amendment to Clause 5. 8
(a) Invest in any thing that is not Shariah Compliant or Haram.
(b) purchase or sell:
i. bearer securities;
ii. securities which result in assumption of unlimited or undetermined liability (actual or contingent);
iii. real estate or interest in real estate save and except in securities which are secured by real estate or interests therein or equity securities issued by companies that invest in real estate or interest therein.
(c) participate in a joint account with others in any transaction;
(d) make short sales of any security or maintain a short position.
Amendment to Clause 5. 1:
(i) The text of the first para of sub-clause 5.1.5 be and is hereby replaced with the following text:─
(ii) In the existing sub-clause 5.1.7 under the heading "Record Keeping", the following new para be and is hereby incorporated:−
Amendment to Clause 5. 2:
(i) In Clause 5.2, sub-clause 5.2.6 be and is hereby omitted and the ensuing sub-clause 5.2.7 be and is hereby renumbered as sub-clause 5.2.6.
(ii) The text of existing sub-clause 5.2.7, now renumbered as 5.2.6 be and is hereby replaced with the following text:
Amendment to Clause 5. 3:
(i) Sub-para (h) of Clause 5.3, be and is hereby replaced with the following text:
Amendment to Clause 5. 1.1. Clause 5.3 of the Original Agreement is deleted in its entirety and replaced with the following: “The Parties shall take such steps as required under Clause 5.1 to fulfil their respective Conditions Precedent (unless waived in accordance with this Agreement) on or before December 29, 2023 (the “Long Stop Date”). Any extension of the Long Stop Date shall be with mutual agreement in writing of the Parties.”
