Takaful Participant definition

Takaful Participant means the person named in the Schedule as “the Takaful Participant”.
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Takaful Participant means the person(s) named in the Schedule as “the Participant”.
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Examples of Takaful Participant in a sentence

  • Any net distributable surplus arising (after deducting the SAC) from the Risk Fund will be allocated in full (100%) to the Takaful Participant.

  • If the Market Value of the property covered at the time of any loss is collectively of higher value than the sum covered stated in the Schedule, then the Takaful Participant will be responsible for the difference and bear a proportional share of the loss.

  • Note: A handling fee of RM10.00 will be charged in the event of cancellation made by the Takaful Participant.

  • If the amount due to Takaful Participant is less than the threshold, the amount shall either be retained in the Risk Fund or donated to charity on behalf of the Takaful Participants.

  • This Takaful Certificate may also be cancelled for any reasons whatsoever at the option of the Company by sending fourteen (14) days’ notice by registered letter to the Takaful Participant at his last known address, in which case the Company shall not be liable to repay for the losses incurred on the same basis as described earlier.

  • Takaful Contribution allocated by the Takaful Participant as shown in the Schedule shall be placed in the Ta’awuni Account Pool (TAP) at inception to pay Wakalah Fee to Shareholders’ Fund and Tabarru’ to Risk Fund.

  • Payment of the Takaful Contribution paid by the Takaful Participant as shown in the Schedule shall be placed in the GRIA where the Company will manage according to the Wakalah principle as defined by the Company and in accordance with Shariah principles.

  • Any difference on the amount of any loss of damage between the Takaful Participant and the Company shall be referred to an Arbitrator who shall be appointed in writing by the Takaful Participant and the Company.

  • This Takaful Certificate may be cancelled at any time at the request of the Takaful Participant, in which case the Company will refund the pro rata Takaful Contribution for the unexpired period of cover.

  • The Company will indemnify the Takaful Participant the covered value or the Market Value of the covered property whichever is lower subject to the deduction of any Excess.

Related to Takaful Participant

  • FTR Participant means any Market Participant that provides or is required to provide Collateral in order to participate in PJM’s FTR auctions.

  • L/C Participant shall have the meaning provided in Section 3.3(a).

  • Former Participant means a person who has been a Participant, but who has ceased to be a Participant for any reason.

  • Major Participant means each Equity Member and each member of the Proposer’s organization: (a) with primary responsibility for design; (b) with primary responsibility for construction; or (c) with a proposed subcontract with a value greater than or equal to 5% of the contract price or $20 million, whichever is greater.

  • Covered Participant means a Participant who is a “covered employee” as defined in Section 162(m)(3) of the Code, and the regulations promulgated thereunder, and any individual the Committee determines should be treated as such a covered employee.

  • A Participant or beneficiary ("claimant") who has not received benefits under the Plan that he or she believes should be paid shall make a claim for such benefits as follows:

  • Other Participant means a cooperative project participant other than the United States.

  • Participant has the meaning specified in Section 10.06(d).

  • Current Participant means a person who participated in the Plan during the Class Period and had an Active Account on May 11, 2018.

  • CDS Participant means a participant in CDS that holds security entitlements in Units on behalf of beneficial owners of those Units;

  • Key participant means a sole proprietor, a partner in partnership, or a person with executive managerial control in a corporation. A person with executive managerial control includes persons such as a chief executive officer, chief operating officer and chief financial officer. This definition does not include non-executive managers such as farm, field, or shift managers.

  • Inactive Participant means each Participant (other than a Retired Participant, Deceased Participant or Disabled Participant) who is not in active service as an Outside Director and is not actively employed by a Participating Company.

  • Authorised Participant means the Initial Authorised Participant, the Second Authorised Participant and any Additional Authorised Participant.

  • Plan Participant means a person who is eligible to receive, and is receiving, a pension benefit from the Plan.

  • Requesting Participant means a Participant initiating an RFQ.

  • Study Participant means a person recruited to participate in the Study.

  • Non-U.S. Participant means any Participant that if it were a Lender would qualify as a Non-U.S. Lender.

  • Active Participant means, with respect to any day or date, a Participant who is in Service on such day or date; provided, that a Participant shall cease to be an Active Participant (i) immediately upon a determination by the Committee that the Participant has ceased to be an Employee or Independent Contractor, or (ii) at the end of the Plan Year that the Committee determines the Participant no longer meets the eligibility requirements of the Plan.

  • First Tier Participant refers to the participant who has entered into a covered transaction with a grantee or subgrantee of Federal funds (such as the prime or general contractor). “Lower Tier Participant” refers any participant who has entered into a covered transaction with a First Tier Participant or other Lower Tier Participants (such as subcontractors and suppliers).

  • Initial Authorised Participant means BNP Paribas Arbitrage S.N.C. and any successor thereto.

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.

  • Loan Participant means each Purchaser and its respective successors and registered assigns, including any Certificate Holder.

  • Registered Participant means a market participant which has entered into a Participation Agreement with the Allocation Platform Rights Document means a document containing the information of the maximum amount of allocated Physical Transmission Rights (identified by CAI) that can be nominated by a market participant per Bidding Zone border per day per hour and per direction taking into account the volume of Daily Transmission Rights initially acquired and any possible curtailments which occurred before the issuance of the Rights Document. Working Day means the calendar days from Monday to Friday, with the exception of public holidays as specified on the website of the Allocation Platform;

  • U.S. Participant means a Participant who is a citizen of the United States or a resident of the United States, as defined in section 7701(a)(30)(A) and section 7701(b)(1) of the Code and any other Participant who is subject to tax under the Code with respect to compensatory awards granted pursuant to the Plan;

  • Participating employee means an employee whose election to participate in a Plan has been approved by the employer.

  • Terminated Participant means a person who has been a Participant, but whose employment has been terminated other than by death, Total and Permanent Disability or retirement.