Wakala Assets definition

Wakala Assets means the assets acquired by the Agent for and on behalf of the Bank under the
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Wakala Assets means, in relation to each Series, the relevant Airtime Vouchers, Lease Assets and/or Shares (as relevant);
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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").
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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.
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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:
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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:
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Wakala Assets means, in relation to each Series, the relevant Vouchers;
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Related to Wakala Assets

  • Excluded Assets has the meaning set forth in Section 2.2.

  • Acquired Assets has the meaning set forth in Section 2.1.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • Undepreciated Real Estate Assets as of any date means the cost (original cost plus capital improvements) of real estate assets of the Company and its Subsidiaries on such date, before depreciation and amortization, determined on a consolidated basis in accordance with GAAP.

  • Real Estate-Related Assets means any investments by the Company or the Operating Partnership in Mortgages and Real Estate-Related Securities.

  • Subject Assets is defined in Section 2.2(c).

  • Gross Assets means the total of fixed assets and current assets;

  • Purchased Assets has the meaning set forth in Section 2.1.

  • Restricted Assets means all licenses, permits, franchises, approvals or other authorizations from any Governmental Authority from time to time granted to or otherwise held by the Company to the extent the same constitute “Excluded Assets” under (and as defined in) the Senior Lien Documents or the Junior Lien Documents or are similarly carved out from the granting clause or the collateral thereunder.

  • Contributed Assets shall have the meaning as set forth in Section 2.2.

  • Retained Assets has the meaning set forth in Section 2.2.

  • Business Assets means all tangible and intangible property and assets owned (either directly or indirectly), leased, licensed, loaned, operated or used, including all real property, fixed assets, facilities, equipment, inventories and accounts receivable, by the Corporation and the Subsidiaries in connection with the Business;

  • Transferred Assets has the meaning set forth in Section 2.1.

  • Related Business Assets means assets (other than cash or Cash Equivalents) used or useful in a Similar Business; provided that any assets received by the Issuer or a Restricted Subsidiary in exchange for assets transferred by the Issuer or a Restricted Subsidiary shall not be deemed to be Related Business Assets if they consist of securities of a Person, unless upon receipt of the securities of such Person, such Person would become a Restricted Subsidiary.

  • Project Assets means all physical and other assets relating to (a) tangible assets such as civil works and equipment including foundations, embankments, pavements, road surface, interchanges, bridges, culverts, road over-bridges, drainage works, traffic signals, sign boards, kilometer-stones, [toll plaza(s)], electrical systems, communication systems, rest areas, relief centers, maintenance depots and administrative offices; and (b) Project Facilities situated on the Site;

  • Leased Assets shall have the meaning ascribed thereto in Section 3.6.