Examples of Sukuk Holders in a sentence
This Undertaking has been issued for valuable consideration and therefore cannot be terminated, revoked or modified except with the prior written consent of the Sukuk Holders.
Delivery of the Sukuk in book entry form shall be made within 30 (thirty) days of the Closing Date for the respective accounts of the Sukuk Holders (for themselves or for and on behalf of other investors), as the case may be, through the facilities of the subsidiary general ledger account ( “SGLA”) of the SBP Banking Services Corporation.
The obligations on the part of the Sukuk Holders in respect of the indemnities described in this Clause 9 shall survive the expiration or termination of this Undertaking or any Transaction Document for any reason whatsoever (including any fundamental or repudiatory breach).
The Sukuk Holders agree and acknowledge that the Transaction Documents form a Sharia compliant structure and undertake that they shall not call into question the structure of the transaction comprised in the Transaction Documents before any forum or court of law and agree that the Transaction Documents shall be interpreted in accordance with the principles of Sharia.
Payment of the Purchase Price shall be made by the Sukuk Holders (for themselves or for and on behalf of other investors), as the case may be, on the Closing Date, by providing immediately available funds as per the instructions of the Issuer.
The representations, warranties and indemnities set out above shall continue in full force and effect in relation to the Sukuk Holders and each Relevant Party notwithstanding its actual or constructive knowledge with respect to any of the matters referred to in the representations and warranties, the completion of the arrangements set out in this Undertaking for the subscription and issue of the Sukuk or the termination of this Undertaking pursuant to any provision hereof.
Each of the Issuer and the Title Agent and the Government agree for the exclusive benefit of the Sukuk Holders that the courts in Islamabad shall settle any disputes which may arise out of or in connection with this Undertaking and/or the Subscription Undertaking and that accordingly any proceedings arising out of or in connection with this Undertaking and/or the Subscription Undertaking may be brought in such courts and, for such purposes, irrevocably submits to the jurisdiction of such courts.
The Investment Agent will use the proceeds from the issue of the Sukuk to purchase, as agent of and on behalf of the Sukuk Holders, from the Government pursuant to a purchase agreement (the “Purchase Agreement”) dated on or about the date hereof, the Sukuk Assets (as defined in the Purchase Agreement).
Any notice required to be given under this Undertaking to the Sukuk Holders shall be delivered in person, sent by pre-paid registered post or by facsimile addressed to address specified against their respective name in Schedule 2, or such other address of which notice in writing has been given to the Sukuk Holders under the provisions of this Clause 10.
For the avoidance of doubt, the foregoing restrictions on transfers shall not apply to tranfers by Sukuk Holders of their respective existing Sukuks certificates to the extent otherwise permitted thereunder.