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MURABAHA CONTRACT Sample Clauses

MURABAHA CONTRACT. 2.1 Purchase of Commodities and Purchase Instruction with Promise to Purchase Upon and subject to the terms and conditions of this Master Murabaha Agreement, the Parties may, from time to time initiate discussions (by telephone or otherwise) to agree the terms of a proposed Murabaha Contract, whereby Party A shall sell Commodities to Party B on immediate delivery and deferred payment terms. Prior to entering into any Murabaha Contract, Party A shall submit a Purchase Instruction with Promise to Purchase to Party B no later than the Specified Time (or such other time as Party A and Party B may agree), confirming that it shall, subject to receiving a duly completed Acknowledgment from Party B, purchase Commodities and requesting Party B to undertake to buy such Commodities once purchased by (or on behalf of) Party A. If Party B agrees to be bound by the terms of the Purchase Instruction with Promise to Purchase, Party B shall sign the Acknowledgement and return this to Party A no later than the Specified Time (or such other time as Party A and Party B may agree).
MURABAHA CONTRACT. As soon as Party A has received the Acceptance Notice in accordance with Clause 2.4 (Acceptance Notice), a Murabaha Contract shall be concluded between Party A and Party B upon the terms of the Offer Notice, the Acceptance Notice and incorporating the terms and conditions set out herein, in particular, the terms set out in Clause 4 (
MURABAHA CONTRACT. As soon as Party A has received the Acceptance Notice in accordance with Clause 2.4 (Acceptance Notice), a Murabaha Contract shall be concluded between Party A and Party B upon the terms of the Offer Notice, the Acceptance Notice and incorporating the terms and conditions set out herein, in particular, the terms set out in Clause 4 (Terms Applicable to Purchase and Sale of Commodities). Upon conclusion of a Murabaha Contract ownership of the Commodities shall immediately pass to and be vested in Party B, together with all rights and obligations relating thereto. The Parties agree that if Party B requests physical delivery of the Commodities, Party A will use reasonable endeavours to facilitate the delivery, provided that any delivery costs incurred in respect of such Commodities shall be payable by Party B.
MURABAHA CONTRACT. 2.1 The Buyer may issue a duly completed Notice of Request to Purchase to the Seller (with a copy to the Commodity Agent and the Representative) in relation to the proposed Murabaha Contract, no later than 9.00 a.m., on the Settlement Date (or such other time and date as may be agreed in writing by the Buyer and the Seller from time to time). Once issued, a Notice of Request to Purchase will be irrevocable. 2.2 On receipt of a duly completed Notice of Request to Purchase, the Seller may purchase the relevant Commodities at the Commodity Purchase Price from the Commodity Supplier on the Settlement Date in accordance with the terms of that Notice of Request to Purchase and this Agreement. 2.3 Upon completion of the purchase of the Commodities by the Seller in accordance with Clause 2.2 and the Seller gaining title thereto and (actual or constructive) possession thereof, the Seller may deliver to the Buyer a duly completed Offer Notice (with a copy to the Commodity Agent and the Representative) by no later than 1.00 p.m. (or such other time as may be agreed in writing by the Buyer and the Seller) on the Settlement Date. 2.4 Provided that the Buyer has received the Offer Notice and it wishes to enter into the Murabaha Contract, the Buyer may: (a) accept the terms of, countersign and deliver to the Seller, the Offer Notice delivered to it in accordance with Clause 2.3; and (b) purchase from the Seller the relevant Commodities acquired by the Seller for the Deferred Sale Price (to be paid in U.S.$ dollars and in amounts and on the dates as specified in the Offer Notice, as the same may be adjusted in accordance with Clause 5.2(g) (Deferred Payments by Buyer)) in accordance with the terms of this Agreement, in each case by no later than 2.00 p.m. (London time) (or such other time as may be agreed in writing by the Buyer and the Seller) on the Settlement Date. 2.5 As soon as the Buyer has accepted the Seller's offer by countersigning the Offer Notice in accordance with Clause 2.4: (a) the Murabaha Contract shall be created between the Seller and the Buyer upon the terms of that Offer Notice and incorporating the terms and conditions set out in this Agreement; and (b) ownership (including, without limitation, the right of ownership from a Xxxxx’a perspective) of and, upon the Buyer obtaining actual or constructive possession of the relevant Commodities, all risks in and to the relevant Commodities shall immediately pass to and be vested in the Buyer, together with ...

Related to MURABAHA CONTRACT

  • SUB-CONTRACTING 34.1. The Purchaser approves the appointment of the sub-contractors specified in Schedule 5.6 (Approved Sub-contractors) in respect of the obligations specified in that Schedule. 34.2. The Service Provider may not sub-contract its obligations under the Contract to other sub-contractors without the prior written consent of the Purchaser. Sub-contracting of any part of the Contract shall not relieve the Service Provider of any obligation or duty attributable to the Service Provider under the Contract. The Service Provider shall be responsible for the acts and omissions of its sub-contractors as though they are its own. 34.3. Where the Service Provider enters into a sub-contract the Service Provider must ensure that a provision is included which: 34.3.1. requires payment to be made of all sums due by the Service Provider to the sub- contractor within a specified period not exceeding 30 days from the receipt of a valid invoice as defined by the sub-contract requirements and provides that, where the Purchaser has made payment to the Service Provider in respect of Services and the sub-contractor’s invoice relates to such Services then, to that extent, the invoice must be treated as valid and, provided the Service Provider is not exercising a right of retention or set-off in respect of a breach of contract by the sub-contractor or in respect of a sum otherwise due by the sub-contractor to the Service Provider, payment must be made to the sub-contractor without deduction; 34.3.2. notifies the sub-contractor that the sub-contract forms part of a larger contract for the benefit of the Purchaser and that should the sub-contractor have any difficulty in securing the timely payment of an invoice, that matter may be referred by the sub-contractor to the Purchaser; 34.3.3. requires that all contracts with sub-contractors and suppliers which the sub- contractor intends to procure, and which the sub-contractor has not before the date of this Contract, already planned to award to a particular supplier are advertised through the Public Contracts Scotland procurement portal (xxx.xxxxxxxxxxxxxxxxxxxxxxx.xxx.xx) and awarded following a fair, open, transparent and competitive process proportionate to the nature and value of the contract; and 34.3.4. is in the same terms as that set out in this clause 34.3 (including for the avoidance of doubt this clause 34.3.4 subject only to modification to refer to the correct designation of the equivalent party as the Service Provider and sub-contractor as the case may be. 34.4. The Service Provider shall also include in every sub-contract: 34.4.1 a right for the Service Provider to terminate that sub-contract if the relevant sub- contractor fails to comply in the performance of its contract with legal obligations in the fields of environmental, social or employment law or if any of the termination events (involving substantial modification of the Contract, contract award despite the existence of exclusion grounds or a serious infringement of EU legal obligations) specified in clause 56.3 occur; and 34.4.2 a requirement that the sub-contractor includes a provision having the same effect as 34.4.1 in any sub-contract which it awards. In this clause 34.4, ‘sub-contract’ means a contract between two or more service providers, at any stage of remoteness from the Purchaser in a sub-contracting chain, made wholly or substantially for the purpose of performing (or contributing to the performance of) the whole or any part of this Contract. 34.5. Where requested by the Purchaser, copies of any sub-contract must be sent by the Service Provider to the Purchaser as soon as reasonably practicable. 34.6. Where the Service Provider proposes to enter into a sub-contract it must: 34.6.1 advertise its intention to do so in at least one trade journal, [at least one newspaper circulating in [refer to locality]] and the Public Contracts Scotland Portal; and 34.6.2 follow a procedure leading to the selection of the sub-contractor which ensures reasonable competition following principles of equal treatment, non-discrimination and transparency and which ensures that such procedure is accessible by small and medium enterprises.

  • Direct Contracting Goods and works which the Association agrees meet the requirements for Direct Contracting may be procured in accordance with the provisions of said procurement method.

  • Prime Contract This Subcontract is made in order to assist the Investment Manager in fulfilling certain of the Investment Manager’s obligations under each investment management and investment advisory agreement (“IM Agreement”) between the Investment Manager and each Trust listed on Exhibit A hereto (the “Trust”), for itself or on behalf of each of its series listed on Exhibit A (each, a “Fund”).

  • MASTER CONTRACT This Master Contract is entered into this 1st day of July, 2014, between Westlake Charter Schools (hereinafter referred to as “LEA”) and CARE Educational Services (hereinafter referred to as “CONTRACTOR”) for the purpose of providing special education and/or related services to LEA students with exceptional needs under the authorization of California Education Code sections 56157, 56361 and 56365 et seq. and Title 5 of the California Code of Regulations section 3000 et seq., AB490 (Chapter 862, Statutes of 2003) and AB1858 (Chapter 914, Statutes of 2004). It is understood that this agreement does not commit LEA to pay for special education and/or related services provided to any LEA student, or CONTRACTOR to provide such special education and/or related services, unless and until an authorized LEA representative approves the provision of special education and/or related services by CONTRACTOR. Upon acceptance of a LEA student, CONTRACTOR shall submit to LEA an Individual Services Agreement (hereinafter referred to as “ISA”) and a Nonpublic Services Student Enrollment form as specified in the LEA Procedures. Unless otherwise agreed in writing, these forms shall acknowledge CONTRACTOR’s obligation to provide all services specified in the student’s Individualized Education Plan (hereinafter referred to as “IEP”). The ISA shall be executed within ninety (90) days of an LEA student’s enrollment. XXX and CONTRACTOR shall enter into an ISA for each LEA student served by CONTRACTOR. As available and appropriate, the LEA shall make available access to any electronic IEP system and /or electronic data base for ISA developing including invoicing. Unless placement is made pursuant to an Office of Administrative Hearings (hereinafter referred to as “OAH”) order, a lawfully executed agreement between LEA and parent or authorized by XXX for a transfer student pursuant to California Education Code section 56325, XXX is not responsible for the costs associated with nonpublic agency placement until the date on which an IEP team meeting is convened, the IEP team determines that a nonpublic agency placement is appropriate, and the IEP is signed by the LEA student’s parent.

  • Service Contract The Parties intend this Agreement to be a “service contract” within the meaning of Section 7701(e)(3) of the Internal Revenue Code of 1986. Purchaser will not take the position on any tax return or in any other filings suggesting that it is anything other than a purchase of electricity from the System.

  • SHAM CONTRACTING (a) The Parties to this Agreement acknowledge that sham contracting has the potential to undermine fair employment practices, erode Employee entitlements and affect the job security of Employees covered by this Agreement. A sham contracting arrangement includes where an employer attempts to disguise an employment relationship as an independent contracting arrangement. This is usually done for the purposes of avoiding responsibility for employee entitlements. (b) In this clause, "sham contracting" is where: (i) an employer employs, or proposes to employ, an individual, representing to the individual that the contract of employment under which the individual is, or would be, employed by the employer is a contract for services under which the individual performs, or would perform, work as an independent contractor; (ii) an employer dismisses, or threatens to dismiss, an individual who is an employee of the employer and performs particular work for the employer in order to engage the individual as an independent contractor to perform the same, or substantially the same, work under a contract for services; or (iii) an employer employs, or has at any time employed, an individual to perform particular work makes a statement that the employer knows is false in order to persuade or influence the individual to enter into a contract for services under which the individual will perform, as an independent contractor, the same, or substantially the same, work for the employer. (c) Clause 16.6(b)(i) does not apply if the employer proves that, when the representation was made, the employer did not know and was not reckless as to whether the contract was a contract of employment rather than a contract for services. (d) Any use of sham contracting is a breach of this Agreement. (e) Where a sham contracting arrangement has been reasonably alleged and is unable to be resolved at the workplace level, any Party may refer the allegation directly to the Disputes Panel for conciliation and/or resolution under clause 11 of this Agreement. All Parties will cooperate with the requests of the Disputes Panel including requests to provide substantiating information or undertaking an independent audit of their arrangements. For the avoidance of doubt, an affected Employee may appoint a representative in relation to such matters. (f) Where the sham contracting allegation exists on the Employer’s Project, the Employer will make itself available to assist the disputes resolution procedure. (g) Where the Disputes Panel Chair deems it necessary due to seriousness of the allegations and/or their findings, the Chair may refer the matter to the appropriate government authority. (h) Where it is agreed or determined by the Disputes Panel or FWC that a sham contract was in place and the person was in fact an Employee under this Agreement, the calculation for back pay will be calculated on the basis of the hourly rate contained in this Agreement plus the site allowance (if applicable), plus the multi-storey allowance and an additional 75% loading to cover entitlements other than CBUS and Incolink. Any difference between the hourly rate paid to the Employee, plus CBUS and Incolink will form the settlement for breach of this clause. The affected Employee will be re-inducted and fully informed of their entitlements under this Agreement and the Fair Work Act. (i) The Employer must ensure that a person engaged to undertake building work as an Employee or as an independent contractor is lawfully entitled to be so engaged under Australian law. (j) The Employer agrees that the Employees will be paid in accordance with the applicable wage rates and allowances as prescribed in this Agreement. (k) The Employer in particular acknowledges the Sham Contracting Compliance Checklist, as attached at Appendix L, provides a useful tool to ensure ongoing compliance.

  • Employment Contract The Company and Executive acknowledge that the terms of his employment are set forth in this Agreement. If Executive’s employment terminates for any reason, Executive shall not be entitled to any payments, benefits, damages, award or compensation other than as provided in this Agreement, or as may otherwise be available in accordance with the Company’s established written plans and written policies at the time of termination.

  • No Employment Contract Nothing contained in this Agreement shall confer upon the Optionee any right with respect to continuance of employment by the Company, nor limit or affect in any manner the right of the Company to terminate the employment or adjust the compensation of the Optionee.

  • Extra Contract Agreements The Employer agrees not to enter into any agreement or contract with his employees, individually or collectively, which in any way conflicts with the terms and provisions of this Agreement. Any such agreement shall be null and void.

  • Engagement of Contractor Subject to the terms and conditions of this Agreement, CDS engages Contractor to provide services specified in Section 1.2. Contractor hereby accepts this engagement by CDS with respect to such matters and for such compensation and terms as provided herein.