WCM definition
Examples of WCM in a sentence
Preferred shall indemnify and hold harmless each Member from and against any losses, judgments, liabilities, expenses and amounts paid in settlement of any claims sustained by them as a result of such Member having invested in the Company rather than maintained an individual WCM Program trading account in such Member’s own name.
Pursuant to an Advisory Agreement dated as of November 20, 2006 by and among the Company, Preferred and ▇▇▇▇▇▇, the Company (with the unanimous approval of the Members as evidenced by their signatures to this Agreement) has appointed ▇▇▇▇▇▇ as the sole trading advisor to the Company, with authority and direction to manage the Company’s commodity interest trading pursuant to the WCM Program, as such Portfolio may change and develop from time to time, all as contemplated by said Advisory Agreement.
The Company has been formed with the specific intent of permitting the Members to consolidate their trading pursuant to the WCM Program in accordance with the Securities and Exchange Commission No-Action Letter, The Managed Futures Association (publicly available July 15, 1996).
Other than in respect of permitting such consolidated trading, the Members’ investment in the Company is intended to have no effect upon the Members which differs in any respect from their continuing to maintain individual WCM Program trading accounts, and this Agreement is to be interpreted so as to achieve this result.
Preferred, as administrator of the Company, shall determine the amounts of all such payments, and these shall become obligations and expenses of the Company, not of any such Member, although the commissions, fees and expenses attributable to a particular Member’s trading pursuant to the WCM Program may be specially allocated to such Member’s Capital Account.