Examples of Mudaraba End Date in a sentence
In the absence of notice of such Non-Payment Election or Non-Payment Event, as the case may be, having been given in accordance with this Condition 8.3, the fact of non-payment of the relevant Periodic Distribution Amount on the relevant Mudaraba Profit Distribution Date or Mudaraba End Date, as the case may be, shall be evidence of the occurrence of a Non-Payment Election or a Non-Payment Event, as the case may be.
In the absence of notice of such Non-Payment Election or Non-Payment Event, as the case may be, having been given in accordance with this Condition 8.3 (Effect of Non-Payment Event or Non-Payment Election), the fact of non-payment of the Relevant Rab-al-Maal Mudaraba Profit Amount (or any part thereof) on the relevant Mudaraba Profit Distribution Date or Mudaraba End Date (as the case may be) shall be evidence of the occurrence of a Non-Payment Election or a Non-Payment Event, as the case may be.
The foregoing shall not apply in respect of Rab-al-Maal Final Mudaraba Profit payable on any Mudaraba End Date.
In the absence of notice of such Non-Payment Election or Non-Payment Event, as the case may be, having been given in accordance with this Condition 8.3 (Effect of Non-Payment Event or Non- Payment Election), the fact of non-payment of the Relevant Rab-al-Maal Mudaraba Profit Amount (or any part thereof) on the relevant Mudaraba Profit Distribution Date or Mudaraba End Date (as the case may be) shall be evidence of the occurrence of a Non-Payment Election or a Non-Payment Event, as the case may be.
In the absence of notice of such Non-Payment Election or Non-Payment Event, as the case may be, having been given in accordance with this Condition 8.3, the fact of non-payment of the Relevant Rab-al-Maal Mudaraba Profit Amount (or any part thereof) on the relevant Mudaraba Profit Distribution Date or Mudaraba End Date (as the case may be) shall be evidence of the occurrence of a Non- Payment Election or a Non-Payment Event, as the case may be.
Other than its portion of Mudaraba Profit and any incentive payment it may be entitled to in accordance with Clause 5.9 (Final Mudaraba Profit on the Mudaraba End Date and Incentive Payment), the Mudareb shall not be entitled to any remuneration from the Mudaraba.
The Rab-al-Maal acknowledges that it shall have no entitlement in respect of any surplus amounts that are paid to the Mudareb pursuant to Clause 5.9(b) (Final Mudaraba Profit on the Mudaraba End Date and Incentive Payment).
The Mudareb may in its sole discretion elect that the Rab-al-Maal Mudaraba Profit (in whole or in part) will not be paid to the Rab-al-Maal on any Mudaraba Profit Distribution Date, provided that the foregoing in this Clause 5.6 (Non-Payment Election) shall not apply in respect of Rab-al-Maal Final Mudaraba Profit payable on any Mudaraba End Date (any such election being a “Non-Payment Election”).
In the absence of notice of such Non-Payment Election or Non-Payment Event, as the case may be, having been given in accordance with this Condition 8.3, the fact of non-payment of the Relevant Rab-al-Maal Mudaraba Profit Amount (or any part thereof) on the relevant Mudaraba Profit Distribution Date or Mudaraba End Date (as the case may be) shall be evidence of the occurrence of a Non-Payment Election or a Non-Payment Event, as the case may be.
If, following the liquidation of the Mudaraba in accordance with this Clause 7 (Liquidation of the Mudaraba), the Required Liquidation Amount payable to or to the order of the Certificateholders on the Mudaraba End Date is greater than the then applicable Dissolution Distribution Amount, the amount of any excess (the “Excess Liquidation Proceeds”) shall be credited to the Mudaraba Reserve and the Required Liquidation Amount payable to or to the order of the Certificateholders shall be reduced accordingly.