COMEX Members definition
Examples of COMEX Members in a sentence
Except as set forth in the Constituent Documents of NYMEX Holdings, NYMEX and COMEX, neither NYMEX Holdings nor any NYMEX Holdings Subsidiary is a party to any agreements with, or has granted any rights for the benefit of or taken any similar action with respect to, any COMEX Members or holders of COMEX Option Memberships.
The only rights or entitlements of any COMEX Members with respect to NYMEX Holdings or the NYMEX Holdings Subsidiaries are those rights and entitlements provided for in the Constituent Documents of NYMEX Holdings, NYMEX and COMEX, each as in effect on the date of this Agreement.
The Paying Agent shall invest and reinvest the amounts in the Special COMEX Reserve and any interest or income earned thereon at the written direction of the Governors Committee, and any interest or income earned thereon shall be the property of the COMEX Members as they may be from time to time.
Notwithstanding the foregoing, the Special COMEX Reserve may be otherwise disbursed at the written direction of the Chairman or Vice Chairman of the Governors Committee in accordance with a vote of a majority of the votes cast by the COMEX Members who are present at a regular or special meeting of the COMEX Members duly called in accordance with the Amended COMEX By-Laws (or any successor provisions).
Such amount shall be disbursed at the written direction of the Governors Committee and shall be used to pay for the costs and expenses associated with protecting the interests of the COMEX Members.
The Merger Agreement shall terminate as of the Closing without any further action, and by virtue thereof, among other things, (i) the Merger Agreement shall be rendered null and void, (ii) no Person shall have any further rights or obligations under the Merger Agreement and (iii) NYMEX and its officers and directors will no longer have fiduciary duties with respect to the COMEX Members in their capacity as COMEX Members.
Except as provided in this Section 9(n)(ii), nothing in this Agreement shall impose on NYMEX or NYMEX Holdings any obligation to make any deposits with respect to, or pay for any costs and expenses associated with, enforcement of the rights of the COMEX Members under this Agreement, except that NYMEX will satisfy the obligations of COMEX described in Section 9(f) and under Section 360 of the COMEX By-Laws in the event that COMEX defaults on such obligations.
Amounts deposited pursuant to this Section 9(n)(ii) shall be the property of the COMEX Members as they may be from time to time.
COMEX's By-Laws provide its Board of Directors with similar powers relating to dues, assessments and fees with respect to COMEX Members, provided that such dues and assessments (or fee surcharges in lieu thereof) may not be imposed (other than in connection with certain Merger-related events) without the consent of the COMEX Governors Committee and that the ability of COMEX's Board of Directors to impose such fee is subject to the limitations.
Subject to Section 1.12, the Company agrees to distribute to the COMEX Members those Proxy Materials that are prepared by the Buyer.