Supplementary Rental definition

Supplementary Rental means, in respect of a Lease Period, an amount equal to the Services Charge Amount and any value added tax payable in relation to such Services Charge Amount applicable to the immediately preceding Lease Period, save that no Supplementary Rental shall be payable on the first Rental Payment Date;

Supplementary Rental means, in respect of the first Rental Period, an amount equal to the Fixed Services Fee (as defined in the Wakalah Agreement) payable by the Trustee pursuant to the Wakalah Agreement and, in respect of any Rental Period, the Wakalah Services Charge Amount (if any) incurred by the Lessor in relation to the Lease Assets in the immediately preceding Rental Period or as notified to the Lessee by the delivery of a Rental Notice (as defined in the Lease Agreement) in accordance with the Lease Agreement. For the avoidance of doubt, the Lessee shall not pay to the Lessor any Supplementary Rental in respect of any Incentive Fee (as defined in the Wakalah Agreement) which may be payable by the Trustee to the Wakeel pursuant to the Wakalah Agreement.

Supplementary Rental means, in respect of a Lease Period, an amount equal to the Services Charge Amount applicable to the immediately preceding Lease Period, save that no Supplementary Rental shall be payable on the first Rental Payment Date;

Examples of Supplementary Rental in a sentence

• The Service Charge Amount is also equivalent to the additional payment payable by the Sponsor to the Trustee (known as Supplementary Rental) under the Lease Agreement and the Service Agency Agreement.

• Situations where deference may be given often occur where the legislature has to balance multiple interests.

• The Supplementary Rental shall be payable annually in arrears at the anniversary of the Lease Term, but can be set-off against service charge for major maintenance and structural repairs rendered under the Service Agency Agreement (“Service Charge Amount”) payable by the Lessor under the Service Agency Agreement (as elaborated below).

• Notwithstanding with the above, an amount equal to the Supplementary Rental to be paid by the Sponsor (as lessee) to the Lessor as (or as part of any) rental pursuant to the Lease Agreement; or the Service Charge Amount that is payable as part of any Exercise Price; shall be set off against the Service Charge Amount to be paid by the Trustee to the Sponsor.

• The Service Charge Amount payable by the Trustee under the Service Agency Agreement shall be equivalent to the Supplementary Rental payable by the Sponsor pursuant to the Lease Agreements and as such the Trustee shall reimburse the Sponsor for the Service Charge Amount in the preceding year which amount shall be set-off against the Supplementary Rental on the date of payment of Lease Rental in the first month of each year of the lease.

• Further information on the payment of the Service Charge Amount and the Supplementary Rental is detailed in Section 13.2 of this Prospectus.

• Supplementary Rental (if any): OMR ......................................................................

• Further information on the payment of the Service Charge Amount and the Supplementary Rental is detailed in Section 10.2 of this Prospectus.

• However, in case the actual expenses for the Rental Period seem to exceed the Supplementary Rental allocated for that Rental Period by 50% or more the Service Agent would be required to obtain prior permission for incurring expenses beyond this threshold from the Lessor.

More Definitions of Supplementary Rental

Supplementary Rental means, in relation to a Rental Period (other than the First Rental Period), an amount equal to the Services Charge Amount applicable to the previous Rental Period;

Supplementary Rental means, in respect of a Lease Period, an amount equal to the Services Charge Amount and any Value Added Tax payable in relation to such Services Charge Amount applicable to the immediately preceding Lease Period in excess of the amount of the Servicing Agent Expenses Reserve, as agreed between the Lessor and as notified to the Lessee by the delivery of a Lease Period Notice;

Supplementary Rental means an amount representing the costs of insurance (including any insurance undertaken on behalf of the Customer in accordance with the terms of this Agreement), Major Maintenance and Taxes incurred by the Bank during the relevant Lease Period.

Supplementary Rental has the meaning given to it under the Service Agency Agreement. Total Loss Incident means any incident or occurrence that results in the total loss or destruction of the Asset or any occurrence that makes the Asset per- manently unfit for any economic use and the repair work in respect thereof is uneconomical.

Supplementary Rental means expenses incurred by the Service Agent in respect of maintenance, repair and insurance of the Sukuk Assets equal to the amount payable by the SPC under the Service Agency Agreement (as notified to the CAA through a Delegation by the Service Agent) in respect of the most recently expired lease period Major Maintenance, Repair and Insurance responsibilities will be undertaken by the CAA (as beneficial owner of Sukuk Assets) but may be delegated to GOP as Service Agent under a Service Agency Agreement in consideration for a nominal fee. At maturity or upon an Event of Default, GOP undertakes to purchase (pursuant to a Purchase Undertaking) the Sukuk Assets at the Exercise Price. The Purchase Undertaking (Wa’d) clearly states that the Exercise Price will be an amount equal to the initial cost of the Sukuk Assets plus any accrued amounts under the Ijara Agreement with respect to the Supplementary Rental.. Xxxxx subscribe to their respective share of the Sukuk Issue through the Subsidiary General Ledger Account (“SGLA”) mechanism SPC (as Issuer) will issue Sukuk Certificates, the proceeds of which it will use to purchase of the Sukuk Assets. Each sukuk certificate will represent an undivided interest in the Sukuk Assets.

Supplementary Rental means, in respect of a Lease Period, an amount equal to the