CMMF definition
Examples of CMMF in a sentence
In the event that the above conditions shall not have been satisfied on or prior to September 21, 2007, the provisions of this paragraph shall not be effective, and unless and until such conditions have been satisfied, CMMF shall not be a Fund under the Loan Documents for any purpose.
Any cost and damages incurred by Cytonn in connection with any legal proceedings brought against Cytonn as a direct result of any unauthorized action or misrepresentation by the Independent CMMF Sales Agent shall be borne by the Independent Cytonn Money Market Fund Sales Agent.
The Independent CMMF Sales Agent shall not be entitled to assign his rights and obligations under this policy without the prior written approval of Cytonn.
The payment of commission to the Independent CMMF Sales Agent after the termination of this agreement shall only be made by Cytonn after Cytonn received a completed investment application and cleared funds in respect of the investment business concluded following the introduction.
Nothing in this Agreement shall constitute a partnership between Cytonn and the Independent CMMF Sales Agent or be deemed to constitute the Independent CMMF Sales Agent as an officer, servant or employee of Cytonn.
All compensation shall be payable in Kenya Shillings or through the Independent CMMF Sales Agent CMMF account unless specified otherwise.
A written statement indicating the manner in which the commission was calculated shall be conclusive proof of the commission payable to the Independent CMMF Sales Agent and shall be binding on both parties except in the case of manifest error.
The Independent CMMF Sales Agent agrees to indemnify Cytonn against all demands and against Cytonn’s costs incurred in dealing with such demands and authorises Cytonn to retain such amounts from the commission due to it from time to time in terms of this agreement for any of the said contributions and any taxes, penalties and interest in respect thereof due to the Independent CMMF Sales Agent’s services hereunder.
Cytonn may at its discretion set off against the said amounts any amounts due or becoming due by the Independent CMMF Sales Agent in terms of this agreement to Cytonn.
The parties declare that it is their intention, and it is agreed, that the Independent CMMF Sales Agent shall be responsible for all tax liabilities chargeable on its commission and other contributions payable by law in respect of his commission.