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IBRA’ (REBATE Sample Clauses

IBRA’ (REBATE. (a) As and when applicable and in accordance with the Guidelines on Ibra’ (Rebate) for Sale-based Financing issued by Bank Negara Malaysia, the Bank may xxxxx Xxxx’ (rebate) on any amount payable by the Customer in respect of any payment due under the Security Documents. (b) The Bank’s calculation of such Ibra’ (rebate) shall, save for manifest error, be treated as final and conclusive.
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IBRA’ (REBATE. The Bank will xxxxx Xxxx’ (rebate), if any, on such amount of the balance Bank’s Selling Price(s) and / or other monies remaining unpaid by the Customer based on the following situations:- (a) For variable rate financing, the difference between the Ceiling Profit Rate and the Effective Profit Rate. (b) Upon early settlement of the Facility by the Customer in the following scenario:- (i) redemption or early settlement of the Facility; (ii) due to restructuring exercise; (iii) in the case of default by the Customer; and (iv) in the event of termination or cancellation of the Facility before the expiry date. From: (The Customer) To: AMBANK ISLAMIC BERHAD (the “Bank”) Dated: Dear Sirs, Re: FACILITY AGREEMENT DATED [XXXX] (“Facility Agreement”) Purchase Request I/We refer to the Facility and the Facility Agreement above entered into between me/us and the Bank. I/We hereby issue this Purchase Request subject to and upon the terms of the Facility Agreement. Unless otherwise defined in this Purchase Request, all the terms and references of the Facility Agreement shall have the same meanings when used herein.
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IBRA’ (REBATE. 5.1 The Bank will grant rebate (Ibra’) to the Customer where there is:- (i) Early settlement or early redemption, including those arising from prepayments; (ii) Settlement of the original financing contract due to financing restructuring exercise; (iii) Settlement by the Customer in the case of default; (iv) Settlement by the Customer in the event of termination or cancellation of the Facility before expiry of the Facility Tenure; and (v) In the event the Effective Profit Rate is lower than the Ceiling Profit Rate. 5.2 The rebate (Ibra’) for settlement is calculated in accordance to the following formula:- Settlement Amount: Outstanding Selling Price + Instalment Due + Late Payment Compensation (Ta’widh) + Other Charges - Rebate (Ibra’) Where:- Rebate (Ibra’) = Deferred Profit – Early Settlement Charges Deferred Profit means unaccrued profit at the point of settlement of the Facility.
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IBRA’ (REBATE. (a) The Bank shall grant rebate to the Customer if any of the following shall occur: (i) The Customer makes early settlement or early redemption, including those arising from prepayments; (ii) The Customer makes settlement of the original financing contract due to financing restructuring exercise; (iii) The Customer makes settlement of the Facility in the case of default; or (iv) The Customer makes settlement of the Facility in the event of termination or cancellation of financing before the maturity date, (b) Rebate shall be calculated based on the following formula:
Sample 1
IBRA’ (REBATE. The Bank shall xxxxx Xxxx' (rebate) to the Customer in respect of any Indebtedness due under this Agreement and/or the Security Documents, but not limited to, the following events: (a) the Customer prepays or makes early settlement or early redemption and/or early termination or cancellation before expiry of the Tenure (as defined in the Letter of Offer), including those arising from prepayments and/or restructuring and/or occurrence of the Event of Default; (b) In the event of early commencement of instalment prior to the expiry of grace profit period (for properties under construction); (c) In the event the Effective Profit Rate is lower than the Contracted Profit Rate; and (d) In the event the actual disbursed amount is less than the Facility Amount. For avoidance of doubt, it is hereby acknowledged and agreed that the rebates referred to herein shall not be construed in any manner whatsoever as cash rebate payable to the Customer, but shall be reflected as a reduction in the profit element of the Deferred Sale Price. The rebate shall only be deemed granted upon receipt of the settlement/redemption sum as determined by the Bank. The calculation of rebate shall be made in accordance with any rules, regulations and/or directives (whether or not having the force of law) required of or imposed upon the Bank from time to time and at any time by Bank Negara Malaysia or any other authority having jurisdiction over the Bank.
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IBRA’ (REBATE. (1) MDV shall grant lbra’ (Rebate) in respect of any amount due under the Facility in any of the following situations: (a) any early settlement or early redemption by the Customer including prepayment; (b) any settlement of the Facility due to any financing restructuring exercise by the Customer; (c) any settlement by the Customer upon occurrence of the Event of Default; (d) any settlement by the Customer in the event of termination or cancellation of the Facility before the expiry of the tenure of the Facility; and (e) the difference between the profit calculated based on the Ceiling Profit Rate and the amount of profit calculated based on the Effective Profit Rate, when the profit based on the Effective Profit Rate is lower than the profit based on the Ceiling Profit Rate. (2) lbra’ (Rebate) will be granted in accordance with the settlement amount calculation as below: (i) Settlement amount = outstanding Asset Sale Price + instalment due + compensation (Ta’widh) (if any) - lbra’ (Rebate) (ii) lbra’ (Rebate) = Deferred Profit - Early Settlement Charges
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Related to IBRA’ (REBATE

  • COBRA Benefits Executive and Executive’s qualified beneficiaries, as applicable, shall be entitled to continuation of group health coverage following the Termination Date under the Employer’s group health plan, to the extent required under the Consolidated Omnibus Budget Reconciliation Act of 1986, with Executive required to pay the same amount as Executive would pay if Executive continued in employment with the Employer during such period as described in Section 4(e) of the Employment Agreement.

  • Severance Payments 5.1 The Company shall pay the Executive the payments described in this Section 5.1 ("Severance Payments") upon the termination of the Executive's employment following a Change in Control during the term of this Agreement, including the Executive's termination of employment for Good Reason, unless such termination is (a) by the Company for Cause, or (b) by reason of the Executive's Death or Disability. The Executive's employment shall be deemed to have been terminated following a Change in Control by the Company without Cause if the Executive's employment is terminated prior to a Change in Control without Cause at the direction (or action which constitutes a direction) of a Person who has entered into an agreement with the Company the consummation of which will constitute a Change in Control. (i) Within three (3) business days after the Date of Termination, the Company shall make a lump sum or monthly, at the Executive's option, cash severance payment to the Executive in an amount equal to: (x) the Executive's annual base salary in effect immediately prior to the occurrence of the event or circumstance upon which the Notice of Termination is based or in effect immediately prior to the Change in Control; and (y) a pro-rated portion of Executive's Targeted Annual Bonus for the fiscal year in which the Date of Termination occurs. (ii) For a twelve (12) month period after the Date of Termination, the Company shall arrange to provide the Executive with medical and dental insurance benefits substantially similar to those that the Executive is receiving immediately prior to the Notice of Termination. Benefits otherwise receivable by the Executive pursuant to this Section 5.1(ii) shall be reduced to the extent comparable benefits are actually received by or made available to the Executive without cost during the twelve (12) month period following the Executive's termination of employment (and any such benefits actually received by the Executive shall be reported to the Company by the Executive). 5.2 The Company also shall pay to the Executive all legal fees and expenses incurred by the Executive in disputing the non-payment of Severance Payments in connection with a termination which entitles the Executive to Severance Payments. Such payments shall be made within five (5) business days after delivery of the Executive's written request for payment accompanied with such evidence of fees and expenses incurred as the Company reasonably may require.

  • COBRA Premiums If Executive timely elects continued coverage under COBRA, the Company will pay Executive’s COBRA premiums to continue Executive’s coverage (including coverage for Executive’s eligible dependents, if applicable) (“COBRA Premiums”) through the period starting on the termination date and ending twelve (12) months after the termination date (the “COBRA Premium Period”); provided, however, that the Company’s provision of such COBRA Premium benefits will immediately cease if during the COBRA Premium Period Executive becomes eligible for group health insurance coverage through a new employer or Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination. In the event Executive becomes covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during the COBRA Premium Period, Executive must immediately notify the Company of such event.

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