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01 Murabaha Facility Agreement

Settlement Date means the day on which the Shipment Price is due to be paid by the Bank.
Shipment Price means, in relation to a Purchase Contract or Murabaha Contract, the aggregate cost price of the Goods to be purchased and shipped pursuant to the relevant Purchase Contract approved by the Bank pursuant to this Agreement which shall not exceed the Approved Amount.
Supplier means the person or entity from which the Goods are purchased, or are to be purchased, under this Agreement and a Purchase Contract.
Total Cost of Shipment means, in relation to a Murabaha Contract, the Shipment Price of the Goods that are the subject of that Murabaha Contract paid by the Bank to the relevant Supplier (by way of cash payment or pursuant to a letter of credit or documentary collection issued by a third party) plus all expenses or charges paid including shipping, insurance and bank charges.
Transaction Documents means this Agreement, when concluded each Murabaha Contract, each Security Document and any other document designated as such by the Buyer and the Bank.
US means the United States of America.
US Dollar, USD or US$ means the official currency of the United States of America.
VAT means value added tax and any other tax of a similar nature.

    1. Interpretation

      1. Words importing the singular shall also include the plural and vice versa.

      2. Masculine, feminine or neutral gender shall include all genders.

      3. The words "hereof", "herein" and "hereunder" and words of similar import when used in this Agreement as a whole and not to any particular provision of this Agreement are for the purpose of reference only and do not limit or affect the meaning.

      4. Unless a contrary indication appears, any reference in this Agreement to:

        1. assets includes present, future, actual and contingent properties, revenues and rights of every description;

        2. a TransactionDocument or any other agreement or instrument is a reference to that Transaction Document or other agreement or instrument as amended, novated, supplemented, extended, restated or replaced from time to time;

        3. a Default (other than an Event of Default) is continuing if it has not been remedied or waived in writing and an Event of Default is continuing if it has not been waived in writing;


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