We use cookies on our site to analyze traffic, enhance your experience, and provide you with tailored content.

For more information visit our privacy policy.

Common use of Cleveland Clause in Contracts

Cleveland. Cliffs shall provide the Trustee with all information requested by the Trustee for purposes of determining payments to the Trust Beneficiaries or withholding of taxes as provided in Section 2. Upon the failure of Cleveland- Cliffs or any Trust Beneficiary to provide any such information, the Trustee shall, to the extent necessary in the sole judgment of the Trustee, (i) compute the amount payable hereunder to any Trust Beneficiary; and (ii) notify Cleveland-Cliffs and the Trust Beneficiary in writing of its computations. Thereafter this Trust Agreement No. l shall be construed as to the Trustee's duties and obligations hereunder in accordance with such Trustee determinations without further action; provided, however, that no such determinations shall in any way diminish the rights of any Trust Beneficiary hereunder or under any Agreement or the Plan; and provided, further, that no such determinations shall be deemed to modify this Trust Agreement No. 1, any Agreement or the Plan. Nothing in this Trust Agreement No. l shall restrict Cleveland-Cliffs' right to amend, modify or terminate the Plan.

Appears in 2 contracts

Samples: Trust Agreement (Cleveland Cliffs Inc), Trust Agreement (Cleveland Cliffs Inc)

AutoNDA by SimpleDocs

Cleveland. Cliffs shall provide the Trustee with all information requested by the Trustee for purposes of determining payments to the Trust Beneficiaries or withholding of taxes as provided in Section 2. Upon the failure of Cleveland- Cleveland-Cliffs or any Trust Beneficiary to provide any such information, the Trustee shall, to the extent necessary in the sole judgment of the Trustee, (i) compute the amount payable hereunder to any Trust Beneficiary; and (ii) notify Cleveland-Cliffs and the Trust Beneficiary in writing of its computations. Thereafter this Trust Agreement No. l 1 shall be construed as to the Trustee's ’s duties and obligations hereunder in accordance with such Trustee determinations without further action; provided, however, that no such determinations shall in any way diminish the rights of any Trust Beneficiary hereunder or under any Agreement or the Plan; and provided, further, that no such determinations shall be deemed to modify this Trust Agreement No. 1, any Agreement or the Plan. Nothing in this Trust Agreement No. l 1 shall restrict Cleveland-Cliffs' right to amend, modify or terminate the Plan.

Appears in 1 contract

Samples: Trust Agreement (Cliffs Natural Resources Inc.)

Cleveland. Cliffs shall provide the Trustee with all information requested by the Trustee for purposes of determining payments to the Trust Participants and Beneficiaries or withholding of taxes as provided in Section 2. Upon the failure of Cleveland- Cleveland-Cliffs or any Trust Participant or Beneficiary to provide any such information, the Trustee shall, to the extent necessary in the sole judgment of the Trustee, (i) compute the amount payable hereunder to any Trust Participant or Beneficiary; and (ii) notify Cleveland-Cliffs and the Trust Participant or Beneficiary in writing of its computations. Thereafter this Trust Agreement No. l 7 shall be construed as to the Trustee's ’s duties and obligations hereunder in accordance with such Trustee determinations without further action; provided, however, that no such determinations shall in any way diminish the rights of any Trust Participant or Beneficiary hereunder or under any Agreement or the Plan; and provided, further, that no such determinations shall be deemed to modify this Trust Agreement No. 1, any Agreement 7 or the Plan. Nothing in this Trust Agreement No. l 7 shall restrict Cleveland-Cliffs' right to amend, modify or terminate the Plan.

Appears in 1 contract

Samples: Trust Agreement (Cliffs Natural Resources Inc.)

AutoNDA by SimpleDocs

Cleveland. Cliffs shall provide the Trustee with all information requested by the Trustee for purposes of determining payments to the Trust Beneficiaries or withholding of taxes as provided in Section 2. Upon the failure of Cleveland- Cleveland-Cliffs or any Trust Beneficiary to provide any such information, the Trustee shall, to the extent necessary in the sole judgment of the Trustee, (i) compute the amount payable hereunder to any Trust Beneficiary; and (ii) notify Cleveland-Cliffs and the Trust Beneficiary in writing of its computations. Thereafter this 118 21 Trust Agreement No. l shall be construed as to the Trustee's duties and obligations hereunder in accordance with such Trustee determinations without further action; provided, however, that no such determinations shall in any way diminish the rights of any Trust Beneficiary hereunder or under any Agreement or the Plan; and provided, further, that no such determinations shall be deemed to modify this Trust Agreement No. 1, any Agreement or the Plan. Nothing in this Trust Agreement No. l shall restrict Cleveland-Cliffs' right to amend, modify or terminate the Plan.

Appears in 1 contract

Samples: Employment Agreement (Cleveland Cliffs Inc)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!