Mudaraba Profit Distribution Date definition

Mudaraba Profit Distribution Date means 30 June and 30 December in each year, starting on (and including) the First Mudaraba Profit Distribution Date;

Mudaraba Profit Distribution Date means 26 January and 26 July in each year, starting on (and including) the First Mudaraba Profit Distribution Date;

Mudaraba Profit Distribution Date means 20 March and 20 September in each year, starting on the First Mudaraba Profit Distribution Date;

Examples of Mudaraba Profit Distribution 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.

• Notwithstanding Condition 7.4 (Periodic Distributions), DIB may in its sole discretion elect that Rab-al-Maal Mudaraba Profit will not be paid to the Trustee (in its capacity as Rab-al-Maal) on any Mudaraba Profit Distribution Date, and DIB shall, in each case, instruct the Trustee not to make payment of a Periodic Distribution Amount to Certificateholders on such Periodic Distribution Date (each 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 (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 (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.

More Definitions of Mudaraba Profit Distribution Date

Mudaraba Profit Distribution Date means 1 January and 1 July in each year, commencing on 1 January 2021;

Mudaraba Profit Distribution Date means 14 January and 14 July in each year, starting on (and including) the First Mudaraba Profit Distribution Date;

Mudaraba Profit Distribution Date means 1 April and 1 October in each year, starting on (and including) the First Mudaraba Profit Distribution Date;

Mudaraba Profit Distribution Date means 2 January and 2 July in each year, starting on the First Mudaraba Profit Distribution Date; Mudareb has the meaning given to it in Condition 5; Non-Payment Election has the meaning given to it in Condition 8.2; Non-Payment Event has the meaning given to it in Condition 8.1; Non-Viability Notice has the meaning given to it in Condition 11.2; Ordinary Shares means issued ordinary shares of SIB, having on the Issue Date a par value of AED1.00 each; Other Common Equity Tier 1 Instruments means securities issued by SIB that qualify as Common Equity Tier 1 Capital of SIB other than Ordinary Shares; Pari Passu Obligations means all subordinated payment obligations of SIB which rank, or are expressed to rank, pari passu with the Relevant Obligations; Payment Business Day has the meaning given to it in Condition 9.3;

Mudaraba Profit Distribution Date means 6 March and 6 September in each year, starting on (and including) the First Mudaraba Profit Distribution Date;

Mudaraba Profit Distribution Date means 28 March and 28 September in each year, starting on (and including) the First Mudaraba Profit Distribution Date;

Mudaraba Profit Distribution Date means 1 May and 1 November in each year, starting on (and including) the First Mudaraba Profit Distribution Date;