Invest finance bank

Third party rights

1. 
   Other than ICD, a person who is not a party to this Agreement has no right under the Contracts (Rights of Third Parties) Act 1999 to enforce or to enjoy the benefit of any term of this Agreement.
   
2. 
   The consent of any person who is not a party is not required to rescind or vary this Agreement at any time.
   

THE MURABAHA FACILITY

1. 
   The Bank allocates the Approved Amount to the Buyer, exclusively for the purpose of procuring the Goods on behalf of the ICD so that the Bank (as agent of ICD) may sell the same to the Buyer on a Murabaha basis (hereinafter referred to as the Facility).
   
2. 
   Any part of the Approved Amount that remains undisbursed at the end of the Availability Period may, in the sole discretion of the Bank, be cancelled.
   
3. 
   Any amount under the Approved Amount that has been cancelled, repaid or prepaid by the Buyer shall not be available for further disbursement.
   
4. 
   Subject to Clause 3 (Conditions Precedent) the Buyer may propose to enter into a Murabaha Contract with the Bank by delivering to the Bank a duly completed Disbursement Request.
   

CONDITIONS PRECEDENT

1. 
   Conditions precedent documents
   
   1. 
      The Buyer may not deliver a Disbursement Request or a Purchase Notice until the Bank has notified the Buyer that it has received or waived each of the conditions precedent set out in Schedule 2 (Condition Precedent Documents) in form and substance satisfactory to the Bank.
      
   2. 
      The Bank shall give this notification to the Buyer promptly upon being so satisfied.
      
   3. 
      If any of the conditions precedent shall not have been fulfilled before 30 days after the date of this Agreement or such extended period as the Bank may approve in writing, any obligations on the part of the Bank then subsisting under this Agreement shall cease, unless the Bank, after consideration of the reasons for the delay, shall establish a later date for the purposes of this Clause. The Bank shall promptly inform the Buyer in writing of such later date.
      
2.