Periodic Distribution Rate definition

Periodic Distribution Rate means the level of periodic distribution of income generated from the trust assets payable to the Sukuk Ijarah Class B holders in proportion to their undivided beneficial ownership based on a pre-agreed rate between the Company and the SPV under the Ijarah Agreement, which rate shall be stipulated in a written notice to be issued by the SPV prior to the issuance of the Sukuk Ijarah Class B. For the purpose of this Constitution, this written notice and the stipulated rate therein shall be deemed to form part of this Clause;

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Periodic Distribution Rate means 5.25 per cent. per annum.

Periodic Distribution Rate means the periodic distribution rate (i.e. the expected Musharakah profit rate) to be determined prior to each issuance of the Perpetual Sukuk with an additional stepped-up rate of 1.00% per annum commencing from the fifth (5th) anniversary of the date of issue of the relevant Perpetual Sukuk that shall be incurred on an annual basis until the Perpetual Sukuk is fully redeemed, subject to a cap of up to the Special Distribution Rate. For illustration purposes, if the Periodic Distribution Rate is x% per annum, it shall be stepped-up to x+1% per annum on the fifth anniversary, x+2% per annum on the sixth anniversary and so forth, but subject always to the Periodic Distribution Rate not exceeding the Special Distribution Rate.

Examples of Periodic Distribution Rate in a sentence

The Periodic Distribution Amount payable on each Periodic Distribution Date (a) falling prior to and including the First Reset Date shall be equal to the product of: (A) the Initial Periodic Distribution Rate; and (B) the Prevailing Face Amount of the Certificates then outstanding and (b) falling after the First Reset Date shall be the relevant amount calculated pursuant to Condition 7.4.
The Periodic Distribution Amount payable on each Periodic Distribution Date (a) falling prior to and including the first Reset Date shall be equal to the product of: (A) the Initial Periodic Distribution Rate; and (B) the Prevailing Face Amount of the Certificates then outstanding and (b) falling after the first Reset Date shall be the relevant amount calculated pursuant to Condition 7.4.
It is agreed however that in the event the Compensation is higher than one per centum (1%) per annum above the Periodic Distribution Rate, the applicable rate of the Compensation shall be one per centum (1%) per annum above the Periodic Distribution Rate.
The Periodic Distribution Amount payable on each Periodic Distribution Date (a) falling prior to and including the first Reset Date shall be equal to the product of: (a) the Initial Periodic Distribution Rate; and (b) the Prevailing Face Amount of the Certificates then outstanding and (b) falling after the first Reset Date shall be the relevant amount calculated pursuant to Condition 7.4 (Periodic Distributions).