Sukuk Trustee definition
Examples of Sukuk Trustee in a sentence
Notice of any such replacement and of any change in the specified office of the Paying Agent will be given to the Sukuk Trustee by the Issuer in accordance with this Trust Deed.
In the event that such taxes may be imposed, the Issuer shall pay to the relevant taxation or other authorities, within the period for payment permitted by applicable law, the full amount of the deduction or withholding and furnish to the Sukuk Trustee, upon its request, an official receipt of the relevant taxation or other authorities involved for all amounts deducted or withheld.
Any such release, settlement or discharge shall be deemed to be made subject to the condition it will be void if any assurance, payment or security which the Sukukholders and/or Sukuk Trustee may previously have received or may hereafter receive from any person in respect of such indebtedness is set aside under any applicable law or proves to have been for any reason invalid.
For the avoidance of doubt, the Sukukholders hereby provide their upfront consent to any such upsizing of the limit of the Sukuk Murabahah Programme and that no consent is required from the Sukuk Trustee, the Facility Agent and any other party under the Sukuk Murabahah Programme when the upsizing of the limit of the Sukuk Murabahah Programme is exercised by the Issuer.
In order to issue the Sukuk Ijarah, the Issuer has entered into contracts required to meet the Ijarah finance transactions of Ijarah Objects that meet the Sharia principles, such as, based on the Ijarah Contract between the Issuer and the Trustee, by which the Issuer transfers the benefits of the Ijarah Objects to the Sukuk Trustee and the Trustee agrees upon the transfer of beneficial rights of the Ijarah Object that will be transferred by the Issuer to the Trustee.
The Sukuk Trustee agrees to be bound by the provisions of the Transaction Documents to which it is a party.
In the Ijarah Contract between the Issuer and the Sukuk Trustee it is agreed that the Issuer shall transfer the beneficial values of the Ijarah Object in amount of Rp. 300.000.000.000.00 (three hundred billion Rupiah).
The Sukuk Trustee hereby declares that it shall hold the benefit of this Trust Deed and all moneys received by it from the Issuer under or in connection with this Trust Deed and any proceeds from the realisation or enforcement of this Trust Deed on trust upon the terms and subject to the conditions of this Trust Deed for the Sukukholders of the Sukuk Ijarah as beneficiaries, rateably, without preference or priority of any kind.
After provision for payment of or satisfaction of such Sukuk Ijarah is made by such deposit or payment of the funds required for that purpose, the Sukuk Trustee shall not be responsible for the safe custody of such monies or for return thereon except such return (if any) as the said monies may earn whilst on deposit less any costs, charges or expenses incurred or levied by the Sukuk Trustee in relation thereto.
If the Sukuk Trustee fails or commits default on Sukuk Ijarah Trust Agreement, the provision of Article 1267 of Indonesian Civil Code shall apply, unless the right of the Issuer requests for cancellation or termination of Sukuk Ijarah Trust Agreement.