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).
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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. 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 ...
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.

Related to MURABAHA CONTRACT

  • SUB-CONTRACTING 31.1. The Authority approves the appointment of the sub-contractors specified in Schedule 10 (Approved Sub-contractors) in respect of the obligations specified in that Schedule. 31.2. The Contractor may not sub-contract its obligations under the Framework Agreement to other sub-contractors without the prior written consent of the Authority. Sub-contracting of any part of the Framework Agreement shall not relieve the Contractor of any obligation or duty attributable to the Contractor under the Framework Agreement. The Contractor shall be responsible for the acts and omissions of its sub-contractors as though they are its own. 31.3. Where the Contractor enters into a sub-contract the Contractor must ensure that a provision is included which: 31.3.1. requires payment to be made of all sums due by the Contractor 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 Authority has made payment to the Contractor 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 Contractor 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 Contractor, payment must be made to the sub-contractor without deduction; 31.3.2. notifies the sub-contractor that the sub-contract forms part of a larger contract for the benefit of the Authority 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 Authority; 31.3.3. requires that all contracts with subcontractors and suppliers which the subcontractor intends to procure, and which the subcontractor has not before the date of this Framework Agreement, 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 31.3.4. is in the same terms as that set out in this clause 31.3 (including for the avoidance of doubt this clause 31.3.4) subject only to modification to refer to the correct designation of the equivalent party as the Contractor and sub-contractor as the case may be. 31.4. The Contractor shall include in every sub-contract: 31.4.1 a right for the Contractor 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 42.4 occur; and 31.4.2 a requirement that the sub-contractor includes a provision having the same effect as 31.4.1 in any sub-contract which it awards. In this Clause 31.4, ‘sub-contract’ means any contract between two or more contractors, at any stage of remoteness from the Authority in a sub-contracting chain, made wholly or substantially for the purpose of performing (or contributing to the performanace of) the whole or any part of this Framework Agreement. 31.5. Where requested by the Authority, copies of any sub-contract must be sent by the Contractor to the Authority as soon as reasonably practicable. 31.6. Where the Contractor proposes to enter into a sub-contract it must: 31.6.1 advertise its intention to do so in at least one trade journal, and the Public Contracts Scotland Portal; and 31.6.2 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.

  • SHAM CONTRACTING 49.1 Sham Contracting occurs when an Employer engages an individual to perform building work under a contract for services where the true character of the engagement or proposed engagement is that of employment. 49.2 The Employer agrees they will not engage in Sham Contracting and recognises that the practice of sham contracting is unlawful and undermines the job security of the Employees covered by this Agreement. 49.3 The Employer will not enter into a contract with another person (“the Contractor”) under which services in the nature of building work are to be provided to the employer, if: (a) the services are to be performed by an individual (who is not the Contractor); and the individual has any ownership in, or is an officer or trustee of, the contractor; and (b) if the contract were entered into with the individual, the contract would be a contract of employment. 49.4 The Employer will maintain records about any Contractors that it has engaged in the preceding month which will include: (a) the name of the Contractor; (b) the owner(s) of the Contractor; (c) the works that the Contractor was engaged to perform; (d) basis on which the Contractor was paid for the work e.g. lump sum/fixed price, daily rate, other; and 49.5 The Employer will, within 7 days of receiving a written request from the Union, provide a copy of the records which it is required to keep pursuant to the previous subclause. Nothing in this subclause requires the Employer to provide information in a manner that is inconsistent with the Privacy Act 1988 (Cth). 49.6 Where in breach of this clause a sham contract was in place, such that that Contractor was in fact an Employee under this Agreement, the calculation for back pay will be calculated on the basis of the difference between what they were paid under sham contract arrangement and: (a) 175% of the applicable hourly rate contained in this Agreement; and (b) the Site Allowance (if applicable); and (c) the multi-story allowance (if applicable); and (d) Superannuation (BUSSQ), XXXX, CIPQ and BEWT.

  • 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.

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