SURPLUS SHARING. We will manage Your takaful contributions by charging a Wakalah Fee as approved by the regulatory authorities under the principle of Wakalah, and subsequently continue to be placed into Takaful fund through General Risk Investment Account (GRIA). If at end of the Period of Xxxxxxx stated in the Certificate Schedule attached to the Certificate, there is a net surplus in the GRIA, the net surplus shall be shared proportionately at 50:50 ratio among Us/the Takaful Operator and the Participants that have not incurred any claim and/or not received any benefits under the same class of risk as stated in the aforesaid Certificate Schedule whilst the Certificate is in force. All retail Participants who have not incurred any claims during the previous coverage period are eligible for surplus distribution. The certificates and contributions must be for one (1) year of Takaful period and have expired by end of the declared financial year. All corporate Participants who have not incurred any claims more than thirty percent (30%) of the gross contribution during the previous coverage period are eligible for the surplus distribution. Certificates and contribution must be for one (1) year of Takaful period and have expired by end of the declared financial year. The eligibility and amount of the surplus to be distributed will be based on the recommendation made by Our Signing Actuary and endorsed by Shariah Committee and Board of Directors.
SURPLUS SHARING. We will manage the participant’s Takaful contributions by charging a gross Wakalah Fee as approved by the regulatory authorities under the principle of Wakalah, and subsequently continue to be placed into the Takaful fund through General Risk Investment Account (GRIA). If at the end of the period of Xxxxxxx stated in the schedule attached to the certificate and have expired by end of the declared financial year, there is a net surplus in the GRIA, then the net surplus will be shared at the ratio of 50:50 between the participants and the Takaful Operator under the contract of Hibah. All retail participants who have not incurred any claims during the previous coverage period are eligible for surplus distribution. The certificates and contributions must be for one (1) year of Takaful period and have expired by end of the declared financial year. All corporate participants who have not incurred any claims more than 30% of the gross contribution during the previous coverage period are eligible for the surplus distribution. Certificates and contribution must be for one (1) year of Takaful period and have expired by end of the declared financial year. The eligibility and amount of the surplus to be distributed will be based on the recommendation made by our Signing Actuary and endorsed by Shariah Committee and Board of Directors.
SURPLUS SHARING. If, as of the end of each quarter following the initial payment of a permit fee to VDOT under the ARCA, the IRR on Total Invested Project Funds (as defined in the ARCA), calculated on the basis of the Net Cash Flow (as defined in the ARCA) of the Project, equals or exceeds 6.5%, the Concessionaire shall use 50% of the funds otherwise available for distribution under Section 5.8 of the Indenture as of the end of such period (or such lesser amount as would result in such IRR being equal to such percentage if the prepayment were treated as a Project Expense) to be applied toward a mandatory prepayment of the TIFIA Loan under Section 10(a) hereof.
SURPLUS SHARING. We will manage Your takaful contributions by charging a Wakalah Fee as approved by the regulatory authorities under the principle of Wakalah, and subsequently continue to be placed into Takaful fund through General Risk Investment Account (GRIA). If at end of the Period of Coverage stated in the Certificate of Takaful attached to the certificate, there is a net surplus in the GRIA, the net surplus shall be shared proportionately at 50:50 ratio among Us / the Takaful Operator and the Person Covered that have not incurred any claim and/or not received any benefits under the same class of risk as stated in the aforesaid Certificate of Takaful whilst the certificate is in force. All retail Person Covered who have not incurred any claims during the previous coverage period are eligible for surplus distribution. The certificates and contributions must be for one (1) year of Takaful period and have expired by end of the declared financial year. All corporate Person Covered who have not incurred any claims more than thirty percent (30%) of the gross contribution during the previous coverage period are eligible for the surplus distribution. Certificates and contribution must be for one (1) year of Takaful period and have expired by end of the declared financial year. The eligibility and amount of the surplus to be distributed will be based on the recommendation made by Our Signing Actuary and endorsed by Shariah Committee and Board of Directors. TREATMENT OF SMALL AMOUNT Small Amount shall mean any amount below Ringgit Malaysia Ten (RM10) arises from contribution excess, cancellation, surplus distribution or claims that are to be made other than by way of electronic payment. The Small Amount shall be channeled to charity. However, if You decide otherwise, You are required to submit a formal request to Us. We may review the applicability of the above stated small amount and any change to the amount will be subjected to Our Shariah Committee approval.
SURPLUS SHARING. The parties may endeavor to attract additional tenants to the premises to occupy any space deemed not required the Tenant for its current or future operations. In the event that such additional tenants are engaged, any surplus of rent paid by such tenants over costs incurred by the Landlord as a result of their occupancy shall be shared equally between the Landlord and Tenant to support their respective charitable missions at 000 Xxxx Xxxxxx. If I-LEAD, Inc. ceases to own the premises, any surplus of rent paid by such other tenants over costs incurred by the Landlord will paid entirely to the Tenant.
