SALE AND PURCHASE OF THE GOODS Sample Clauses

SALE AND PURCHASE OF THE GOODS. 2.01 The Institution agrees to sell the Goods to the Client to a maximum amount of Rs and the Client agrees to purchase the Goods from the Institution from time to time at the Contract Price. Upon receipt by the Institution of the Client's Purchase Requisition advising the Institution to purchase the Goods and make payment therefor, the Institution shall acquire the Goods either directly or through the Agent, the payment for which shall be made by the institution to the Supplier. The Receipt for such payment shall be acknowledged by the Client in his capacity as an Agent to the Institution, should he be so appointed as an Agent of the Institution. The said Receipt shall be substantially in a form given in Musawamah Document # 4. 2.02.1 After the purchase of Goods by the Institution, the Client shall offer to purchase the Goods from the Institution at the Contract Price in the manner provided in the Part-II of the Declaration. 2.03 The Client shall purchase the Goods from the Institution after the Institution has beneficially acquired the Goods. The Musawamah purchase of the Client from the Institution shall be effected by the exchange of an offer and acceptance between the Client and the Institution. The Goods shall remain at the risk of the Institution until such time the client has accepted the offer made by the Institution as set out in the Appendix C of this Agreement, immediately after which, all risks in respect of the Goods shall be passed on to the Client. OR (to be applicable if sale is being made from inventory of the institution) 2.04 The Institution has agreed to sell the Goods to the Client and the Client has agreed to purchase the Goods from the Institution for the Contract Price. Upon receipt by the Institution of the Client's Purchase Requisition advising the Institution of its requirements, the Institution shall deliver the Goods to the client. The title of Goods shall stand transferred to the Client as per agreed terms of delivery
Sample 1See All (4)
AutoNDA by SimpleDocs
SALE AND PURCHASE OF THE GOODS. 2.01 The Institution agrees to sell the Goods to the Client to a maximum amount of Rs and the Client agrees to purchase the Goods from the Institution from time to time at the Contract Price. Upon receipt by the Institution of the Client's Purchase Requisition advising the Institution to purchase the Goods and making payment therefore, the Institution shall acquire the Goods either directly or through the Agent. The payment for such goods shall be made by the institution directly to the Supplier on submission of Purchase Advice by the client/agent. The said Receipt shall be substantially in a form given in Murabaha Document # 4. (For making payment to the Supplier the bank should prepare a Pay Order/Cross cheque, etc in the name of Supplier that should be handed over to him through client/agent. The supplier should issue invoice in the name of Bank Account Client e.g. ‘1st Islamic Bank - ABC Company’. This way, the problem of claiming Sales or other Taxes Refund could be solved easily). 2.02 Upon receipt of purchase of Goods by the Institution, directly or through an Agent, from the Supplier, the Goods shall be at the risk and cost of the Institution until such time that these Goods are sold to the Client, to be evidenced by the acceptance, xxxx signed and endorsed by the Institution in Part-III of the Declaration. 2.03 After the purchase of Goods by the Institution, the Client shall offer to purchase the Goods from the Institution at the Contract Price in the manner provided in the Part-II of the Declaration. 2.04 The Client’s purchase of Goods from the Institution shall be effected by the exchange of an offer and acceptance between the Client and the Institution as stipulated in the Declaration.
Sample 1
SALE AND PURCHASE OF THE GOODS. 2.01 The Modaraba agrees to sell the Goods to the Client to a maximum Contract amount of Rs. and the Client agrees to purchase the Goods from the Modaraba from time to time at the Contract Price. Upon receipt by the Modaraba of the Client's Purchase Requisition advising the Modaraba to purchase the Goods and make payment therefor, the Modaraba shall acquire the Goods either directly or through the Agent, the payment for which shall be made by the institution to the Supplier. The Receipt for such payment shall be acknowledged by the Client in his capacity as an Agent to the Modaraba, should he be so appointed as an Agent of the Modaraba. The said Receipt shall be substantially in a form given in Musawamah Document # 4. 2.02.1 After the purchase of Goods by the Modaraba, the Client shall offer to purchase the Goods from the Modaraba at the Contract Price in the manner provided in the Part-II of the Declaration. 2.03 The Client shall purchase the Goods from the Modaraba after the Modaraba has beneficially acquired the Goods. The Musawamah purchase of the Client from the Modaraba shall be effected by the exchange of an offer and acceptance between the Client and the Modaraba. The Goods shall remain at the risk of the Modaraba until such time the client has accepted the offer made by the Modaraba as set out in the Appendix C of this Agreement, immediately after which, all risks in respect of the Goods shall be passed on to the Client.
Sample 1
SALE AND PURCHASE OF THE GOODS. 2.01 The Cooperative agrees to sell the Goods to the Client to a maximum amount of the agreed contract price and the Client agrees to purchase the Goods from the Cooperative from time to time at such Price which is inclusive of 15% xxxx-up profit as bench-marked by the Board. Upon receipt by the Cooperative of the Client's Purchase Requisition advising the Cooperative to purchase the Goods and making payment therefore on his/her behalf, the Cooperative shall acquire the Goods either directly or 2.02 Upon receipt of Goods by the Cooperative, directly or through an Agent, from the Supplier, the Goods shall be at the risk and cost of the Cooperative until such time that these Goods are sold to the Client, to be evidenced by the acceptance /Goods Received note, duly signed and endorsed by the Client (Murabaha Document 4) 2.03 After the purchase of Goods by the Cooperative, the Client shall offer to purchase the Goods from the Cooperative at the Contract Price in the manner provided in the Murabaha Doc 2 of the Declaration. 2.04 The Client’s purchase of Goods from the Cooperative shall be effected by the exchange of an offer and acceptance between the Client and the Cooperative as stipulated in the Declaration. 2.05 That a maximum of Eight (8) months is provided for repayment on this financing using the installment payment window 2.06 That a rebate of 5% shall be given for early payments not exceeding four (4) months of the entire life of the financing.
Sample 1
SALE AND PURCHASE OF THE GOODS. 2.01 The Society agrees to sell the Goods to the Member and the Member agrees to purchase the Goods from the Society at the Contract Price of Rs ; 2.02 Upon receipt by the Society of the Member's Purchase Requisition requesting the Society to purchase the Goods and making payment of down payment of Rs. …………..therefor to the society, the Society shall acquire the Goods and make payment for such goods directly to the supplier after submission of purchase request and down payment by the member; 2.03 Upon receipt of purchase of Goods by the Society, directly from the Supplier, the Goods shall be at the risk and cost of the Society until such time that these Goods are sold to the Member, the sale and delivery of the Goods from the Society to the member shall be evidenced by the acceptance, duly signed by the member and endorsed by the Society and attached herewith in Annexure 3; 2.04 The Member’s purchase of Goods from the Society shall result in the creation of a loan of Rs. ……….. due from the member to the Society and payable in the manner described in Annexure 2 in months.
Sample 1
SALE AND PURCHASE OF THE GOODS. 2.1 Subject to the terms and conditions of this Agreement and in particular Clause 2.9, the Buyer, or its Affiliates, may from time to time during the Term issue a purchase order form in such form as the Buyer may determine for the purchase of the Goods identified, in accordance with the terms therein ("Purchase Order"). For the avoidance of doubt, any and all quantities stated in Schedule 1 are estimates only and shall not be binding on the Buyer. 2.2 In the event of any conflict between any of the terms of this Agreement and the terms of any Purchase Order, those terms of this Agreement shall prevail. 2.3 Subject to Clause 2.9, the Buyer shall be entitled to, by written notice to the Seller given with less than one (1) days' notice prior to the date and time for the delivery of the Goods ("Delivery Time") specified in a Purchase Order, revise the Delivery Time in such Purchase Order. 2.4 Seller warrants only title to the Goods and that the Goods when delivered shall meet the agreed specifications as stated in the Agreement. Seller also warrants that the Goods shall not, in compliance with applicable US/EU trade embargo Jaws, regulations or rulings ("Trade Sanctions Laws"), be composed of petroleum products that originate from countries, persons or legal entities that are identified as sanctioned or embargoed under the Trade Sanctions Laws ("Sanctioned Material"). 2.5 The Seller shall ensure and warrants that: 2.5.1 the Seller has obtained all licenses, approvals and permits required by applicable law for the supply of the Goods; 2.5.2 the Goods are to be protected against dust, moisture and all the usual risks incidental to the transportation of the Goods; 2.5.3 the Goods are marked in accordance with all legal requirements (if any) concerning the manufacture, processing, storage and testing of the Goods; and 2.5.4 without prejudice and subject to the foregoing, the Seller observes and complies in all respects with the terms of Schedule 2 at all times during the Term. 2.6 The Seller shall not substitute the brand, packing and/or country of origin of any of the Goods without the prior written consent of the Buyer, which consent shall be subject to such terms and conditions as the Buyer may prescribe (including a reduction in the Price). 2.7 Buyer currently estimates that its annual requirement for the Goods shall be 14,000,000 litres of diesel (0.001% sulphur) and 300,000litres of petrol (minimum 95 octane). Such amount is strictly an estimate only, and B...
Sample 1

Related to SALE AND PURCHASE OF THE GOODS

  • Sale and Purchase Upon the basis of the warranties and representations and subject to the terms and conditions herein set forth, the Fund agrees to sell to the respective Underwriters and each of the Underwriters, severally and not jointly, agrees to purchase from the Fund the aggregate number of Firm Shares set forth opposite the name of such Underwriter in Schedule A attached hereto in each case at a purchase price of $14.325 per Share. The Fund is advised that the Underwriters intend (i) to make a public offering of their respective portions of the Firm Shares as soon after the effective date of the Registration Statement as is advisable and (ii) initially to offer the Firm Shares upon the terms set forth in the Prospectus. The Underwriters may from time to time increase or decrease the public offering price after the initial public offering to such extent as they may determine. In addition, the Fund hereby grants to the several Underwriters the option to purchase, and upon the basis of the warranties and representations and subject to the terms and conditions herein set forth, the Underwriters shall have the right to purchase, severally and not jointly, from the Fund, ratably in accordance with the number of Firm Shares to be purchased by each of them, all or a portion of the Additional Shares as may be necessary to cover over-allotments made in connection with the offering of the Firm Shares, at the same purchase price per share to be paid by the Underwriters to the Fund for the Firm Shares. This option may be exercised by you on behalf of the several Underwriters at any time and from time to time on or before the forty-fifth day following the date hereof, by written notice to the Fund. Such notice shall set forth the aggregate number of Additional Shares as to which the option is being exercised, and the date and time when the Additional Shares are to be delivered (such date and time being herein referred to as the "Additional Time of Purchase"); provided, however, that the Additional Time of Purchase shall not be earlier than the Time of Purchase (as defined below) nor earlier than the second business day after the date on which the option shall have been exercised nor later than the tenth business day after the date on which the option shall have been exercised. The number of Additional Shares to be sold to each Underwriter shall be the number which bears the same proportion to the aggregate number of Additional Shares being purchased as the number of Firm Shares set forth opposite the name of such Underwriter on Schedule A hereto bears to the total number of Firm Shares (subject, in each case, to such adjustment as you may determine to eliminate fractional shares). The Fund also agrees, subject to the terms and conditions set forth herein, to sell to the Investment Manager, and, upon the basis of the representations, warranties and agreements of the Fund contained herein, the Investment Manager shall have the right to purchase from the Fund, at the same purchase price per share as the Underwriters shall pay for the Additional Shares, up to an aggregate of 1,000 Shares (the "Investment Manager Shares").

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!