Commodities Business definition
Examples of Commodities Business in a sentence
MLCI and MLCI Parent will conduct periodic reviews and testing of its compliance code, policies, and procedures designed to evaluate and improve their effectiveness in preventing and detecting violations of the Relevant Laws and their code, policies, and procedures in the Commodities Business.
MLCI and MLCI Parent will implement mechanisms designed to ensure that their compliance code, policies, and procedures are effectively communicated to all directors, officers, and employees in the Commodities Business.
MLCI and MLCI Parent will assign responsibility to one or more senior corporate executives of MLCI and MLCI Parent with oversight of the Commodities Business for the implementation and oversight of their compliance code, policies, and procedures.
If one Party notifies the other Party that a Dispute has arisen and the parties are unable to resolve such Dispute within ten (10) days from such notice, then the matter shall be referred to the Chief Operating Officer of the Commodities Business within the Global Markets Division of Deutsche Bank AG, London Branch and the Chief Executive Officer of Lessee, who shall act by unanimous consent on all such matters.
The Leased Real Property is in good operating condition in order to operate the Commodities Business in the ordinary course, subject to wear and tear and damage by insured casualty.
None of Seller, any of its Affiliates or any Transferred Entity has subleased, licensed, assigned (collectively or otherwise) or otherwise granted any Person other than the Commodities Business the right to use or occupy any Leased Real Property or any portion thereof from and after the Closing.
Except as listed on Section 3.9(h) of the Seller Disclosure Letter, all individuals who are employees of a Transferred Entity primarily perform their services in respect of the Commodities Business (any employee listed on Section 3.9(h) of the Seller Disclosure Letter shall be referred to as a “Non-Commodities Business Employee”).
These mechanisms shall include: (a) periodic training for all Commodities Business directors and officers, all employees in positions of leadership or trust, positions that require such training (e.g., internal audit, sales, legal, compliance, finance); and (b) corresponding certifications by all such directors, officers, employees, agents, and business partners, certifying compliance with the training requirements.
To the Knowledge of Seller, each individual that renders services to the Commodities Business who is classified as (i) an independent contractor or other non-employee status, or (ii) an exempt or non-exempt employee, is properly so classified for all purposes, including (x) taxation and Tax reporting, (y) Fair Labor Standards Act purposes, and (z) Applicable Local Law governing the payment of wages.
In order to address any deficiencies in the internal controls, compliance code, policies, and procedures regarding compliance with the wire fraud statute (18 U.S.C. § 1343), the securities and commodities fraud statute (18 U.S.C. § 1348), and the anti-spoofing provision of the Commodity Exchange Act (7 U.S.C. § 6c(a)(5)(C)) (collectively, the “Relevant Laws”) in MLCI Parent’s Global Markets’ Commodities Business (the “Commodities Business”), ▇▇▇▇▇▇▇ ▇▇▇▇▇ Commodities, Inc.