Wakala Amount definition

Wakala Amount. ’ means the proposed amount to be invested in relation to a Wakala Transaction.

Wakala Amount means the amount invested by the Agent (on behalf of the Principal) pursuant to this Agreement and as specified in the relevant Wakala Documents;

Examples of Wakala Amount in a sentence

• Wakala Agreement is executed by issuance of Sanction Letter as the Offer Letter by the Bank and the Declaration of Acceptance by the Customer, or in the absence of Sanction Letter, by the issuance of the application form by the customer and acceptance by the Bank by any documented manner, i.e. by availing the Wakala Amount to the customer.

• Disbursement of Bank’s Wakala Amount (Facility Amount) may be made the Client’s account first if requested by the Client, to establish that the Client received the funds and it is with the Client(s) authorization, that the projects vender’s account is deposited, to be utilised exclusively for executing the approved purpose of the Wakala.

• Be responsible for the maintenance of the pianos and other musical instruments owned by the church, including regular tunings or maintenance.

• The Principal shall pay the Wakala Amount to such account as the Agent shall have notified the Principal for value not later than the Wakala Date(s) as specified in the Wakala Request.