Wakala Assets definition

Wakala Assets means the assets acquired by the Agent for and on behalf of the Bank under the

Wakala Assets means, in relation to each Series, the relevant Airtime Vouchers, Lease Assets and/or Shares (as relevant);

Wakala Assets means any asset derived from a financing provided by the ICD (as muwakil) to its customers under an agency (wakala) arrangement entered into between the ICD and the relevant customer where funds provided to the agent are invested in tangible ("Tangible Wakala Assets") and/or intangible assets ("Intangible Wakala Assets").

Examples of Wakala Assets in a sentence

• Pursuant to the Purchase Agreement, the Seller will sell a portfolio (the Wakala Portfolio) of certain assets (the Wakala Assets) specified in the Supplemental Purchase Contract to the Trustee and the Trustee will purchase the Wakala Portfolio using the proceeds of the issue of the Certificates.

• The Agent undertakes to transfer the Maturity Proceeds upon the due liquidation of the Investment Wakala Assets (either on constructive or actual basis) on the Investment Maturity Date to the account of the Principal.

• Wakala Assets on the Issue Date: The Initial Wakala Portfolio as scheduled to the Supplemental Purchase Contract specified below.

• Pursuant to the Trust Deed, the Trustee holds the Wakala Assets upon trust absolutely for the Certificateholders pro rata according to the Face Amount of Certificates held by each Certificateholder.

• With respect to the Global Certificate representing a Series, the Wakala Assets shall include the rights, title, interest and benefit of the Trustee in and to all the undivided Gold Bars purchased and actually held in the Almas Vault with respect to that Series.

• In particular, neither the Delegate nor any Certificateholder shall be entitled in respect thereof to petition or to take any other steps for the winding-up of the Trustee nor shall any of them have any claim in respect of the Wakala Assets for any other Series.

• All payments to be made by the Trustee in respect of the Certificates will be made only from and to the extent of the Gold Bars or sums received or recovered from time to time by or on behalf of the Trustee or the Delegate in respect of the Wakala Assets.

• Pursuant to the Management Agreement, the Managing Agent shall credit any surplus amounts of Wakala Portfolio Income Revenues (if any) to the Wakala Reserve Account in accordance with Condition 6(d)(iii) (Trust — Operation of Collection Account (Wakala Assets)).

• Pursuant to the Wakala Asset Substitution Undertaking Deed, the Trustee will, with respect to each Series, give a Wakala Asset Substitution Undertaking in favour of QIB pursuant to which the Trustee undertakes, upon receipt of a substitution notice, to transfer certain Wakala Assets to QIB in exchange for the receipt of certain new Wakala Assets from QIB on the condition that the value of the new Wakala Assets is at least equal to the Value of the new Wakala Assets on such date.

• Under no circumstances shall the Delegate or any Certificateholder have any right to cause the sale or other disposition of any of the Wakala Assets (other than pursuant to the Transaction Documents) and the sole right of the Delegate and the Certificateholders against the Trustee shall be to enforce their respective obligations under the Transaction Documents.

More Definitions of Wakala Assets

Wakala Assets has the meaning given to it in the Master Purchase Agreement; and "Wakala Portfolio" has the meaning given to it in the Service Agency Agreement.

Wakala Assets means, at any time, the Aircraft Assets as described in Schedule 1 (Aircraft Asset) to each Purchase Agreement subject to taking into account:

Wakala Assets means any asset derived from lines of financing provided by the ICD (as muwakil) to its customers under an agency (wakala) arrangement entered into between the ICD and the relevant customer where funds provided to the agent are invested in tangible and/or intangible assets.1.2 Principles of Interpretation in this Master Trust Deed:

Wakala Assets means, in relation to each Series, the relevant Vouchers;