Common use of THE WAKALAH Clause in Contracts

THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a Musharakah agreement with the Developer in the Project via this Agreement, for the purpose of investing in the Project. 2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the Musharakah are Shariah-compliant. 2.3. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix. 2.4. The Company by virtue of this Wakalah Agreement shall be authorised by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub- agent for the purpose of finding buyers and selling the Investor’s share in the partnership. 2.5. The fixed Wakalah fee of the Company is as described in Section 5 of the Appendix. 2.6. The Company charges service fees for facilitating the Musharakah agreement between the Investor and the Developer, as described in Section 5 of the Appendix. 2.6.1. This service fees will be charged upfront and will be considered as a cost for the Project, which will not reduce the capital contribution of the Investor Group in the Project. 2.7. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee. 2.8. The Developer promises to forego a portion of the Developer’s own profits realised from the project to grant Investors the higher projected return. However, this will only apply if: 2.8.1. The project makes a profit; and 2.8.2. The Developer is not deprived of all profits as a result of this arrangement. 2.9. The Investor agrees to contribute to capital as described in Section 9 of the Appendix. 2.9.1. In the case of loss, the Investor Group and the Developer will bear loss proportionately to the capital contribution of each Party. 2.9.1.1. Notwithstanding the above, the Developer is liable for any loss attributed to negligence, misconduct or breach of contractual terms. 2.9.2. The profit will be shared between the Investor Group and the Developer based on the Profit Sharing Ratio (PSR) as described in Section 10 of the Appendix.

THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a Musharakah agreement with the Developer in the Project via this Agreement, for the purpose of investing in the Project. 2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the Musharakah are Shariah-compliant. 2.3. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix. 2.4. The Company by virtue of this Wakalah Agreement shall be authorised by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub- sub-agent for the purpose of finding buyers and selling the Investor’s share in the partnership. 2.5. The fixed Wakalah fee of the Company is as described in Section 5 of the Appendix. 2.6. The Company charges service fees for facilitating the Musharakah agreement between the Investor and the Developer, as described in Section 5 of the Appendix. 2.6.1. This service fees will be charged upfront and will be considered as a cost for the Project, which will not reduce the capital contribution of the Investor Group in the Project. 2.7. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee. 2.8. The Developer promises to forego a portion of the Developer’s own profits realised from the project to grant Investors the higher projected return. However, this will only apply if: 2.8.1. The project makes a profit; and 2.8.2. The Developer is not deprived of all profits as a result of this arrangement. 2.9. The Investor agrees to contribute to capital as described in Section 9 of the Appendix. 2.9.1. In the case of loss, the Investor Group and the Developer will bear loss proportionately to the capital contribution of each Party. 2.9.1.1. Notwithstanding the above, the Developer is liable for any loss attributed to negligence, misconduct or breach of contractual terms. 2.9.2. The profit will be shared between the Investor Group and the Developer based on the Profit Sharing Ratio (PSR) as described in Section 10 of the Appendix.

THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a Musharakah agreement with the Developer in the Project via this Agreement, for the purpose of investing in the Project. 2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the Musharakah are Shariah-Shariah- compliant. 2.3. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix. 2.4. The Company by virtue of this Wakalah Agreement shall be authorised by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub- sub-agent for the purpose of finding buyers and selling the Investor’s share in the partnership. 2.5. The fixed Wakalah fee of the Company is as described in Section 5 of the Appendix. 2.6. The Company charges service fees for facilitating the Musharakah agreement between the Investor and the Developer, as described in Section 5 of the Appendix. 2.6.1. This service fees will be charged upfront and will be considered as a cost for the Project, which will not reduce the capital contribution of the Investor Group in the Project. 2.7. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee. 2.8. The Developer promises to forego a portion of the Developer’s own profits realised from the project to grant Investors the higher projected return. However, this will only apply if: 2.8.1. The project makes a profit; and 2.8.2. The Developer is not deprived of all profits as a result of this arrangement. 2.9. The Investor agrees to contribute to capital as described in Section 9 of the Appendix. 2.9.1. In the case of loss, the Investor Group and the Developer will bear loss proportionately to the capital contribution of each Party. 2.9.1.1. Notwithstanding the above, the Developer is liable for any loss attributed to negligence, misconduct or breach of contractual terms. 2.9.2. The profit will be shared between the Investor Group and the Developer based on the Profit Sharing Ratio (PSR) as described in Section 10 of the Appendix.

THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a Musharakah Mudharabah agreement with the Developer Entrepreneur in the Project via this Agreement, for the purpose of investing in the Project. 2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the Musharakah Mudharabah are Shariah-compliant. 2.3. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix. 2.4. The Company by virtue of this Wakalah Agreement shall be authorised by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub- sub-agent for the purpose of finding buyers and selling the Investor’s share in the partnership. 2.5. The fixed Wakalah fee of the Company is as described in Section 5 of the Appendix. 2.6. The Company charges service fees for facilitating the Musharakah Mudharabah agreement between the Investor and the DeveloperEntrepreneur, as described in Section 5 of the Appendix. 2.6.1. This service fees will be charged upfront and will be considered as a cost for the Project, which will not reduce the capital contribution of the Investor Group in the Project. 2.7. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee. 2.8. The Developer Entrepreneur promises to forego a portion of the DeveloperEntrepreneur’s own profits realised from the project to grant Investors the higher projected return. However, this will only apply if: 2.8.1. The project makes a profit; and 2.8.2. The Developer Entrepreneur is not deprived of all profits as a result of this arrangement. 2.9. The Investor agrees to contribute to capital as described in Section 9 of the Appendix. 2.9.1. In the case of loss, the Investor Group and the Developer will bear loss proportionately all actual financial losses incurred or accrued by the Entrepreneur in connection with the Project, while the Entrepreneur would only fail to realize its expected profit (at no expense to the capital contribution of each PartyInvestor) as well as forgo the energy and time it has invested in the Project. 2.9.1.12.9.2. Notwithstanding the above, the Developer Entrepreneur is liable for any loss attributed to gross negligence, misconduct or breach of contractual terms., representation or warranty, in which case it shall be liable for the amount of the Investment Amount 2.9.22.9.3. The profit will be shared between the Investor Group and the Developer Entrepreneur based on the Profit Sharing Ratio (PSR) as described in Section 10 of the Appendix.

THE WAKALAH. 2.1. Under the Shariah principle of Wakalah, the Investor hereby irrevocably and unconditionally appoints the Company as its agent and the Company hereby accepts this appointment to represent the Investor in a Musharakah agreement with the Developer in the Project via this Agreement, for the purpose of investing in the Project. 2.2. The Company shall exercise due diligence to the best of its expertise, knowledge and skills to ensure that all the transactions in the Musharakah are Shariah-compliant. 2.3. The Commitment Amount by the Investor Group is as described in Section 4 of the Appendix. 2.4. The Company by virtue of this Wakalah Agreement shall be authorised by the Investor to hold the ownership of the assets and appoint any party it deems fit as an agent and a sub- agent for the purpose of finding buyers and selling the Investor’s share in the partnership. 2.5. The fixed Wakalah fee of the Company is as described in Section 5 of the Appendix. 2.62.5. The Company charges service fees for facilitating the Musharakah agreement between the Investor and the Developer, as described in Section 5 of the Appendix. 2.6.1. This service fees will be charged upfront and will be considered as a cost for the Project, which will not reduce the capital contribution of the Investor Group in the Project. 2.72.6. A performance incentive fee from the Projected Gross Return (if any) on Commitment Amount will be charged by the Company as described in Section 5 of the Appendix. In the event that no returns are realised, the Company will not charge any incentive fee. 2.82.7. The Developer promises to forego a portion of the Developer’s own profits realised from the project to grant Investors the higher projected return. However, this will only apply if: 2.8.12.7.1. The project makes a profit; and 2.8.22.7.2. The Developer is not deprived of all profits as a result of this arrangement. 2.92.8. The Investor agrees to contribute to capital as described in Section 9 of the Appendix. 2.9.12.8.1. In the case of loss, the Investor Group and the Developer will bear loss proportionately to the capital contribution of each Party. 2.9.1.12.8.1.1. Notwithstanding the above, the Developer is liable for any loss attributed to negligence, misconduct or breach of contractual terms. 2.9.22.8.2. The profit will be shared between the Investor Group and the Developer based on the Profit Sharing Ratio (PSR) as described in Section 10 of the Appendix.