Common use of Underlying Assets Clause in Contracts

Underlying Assets. (a) Neither an Owner nor the Manager may Dispose of all or any Iron Ore Assets or any Securities in any JV Entity which owns any Iron Ore Assets, and the Owners must procure that no JV Entity disposes of all or any Iron Ore Assets * * * (a) If an Owner Disposes of any proportionate part of its Participating Interest, then for the purposes of this Agreement: West Australian Iron Ore Production Joint Venture Agreement * * * Pursuant to a request for confidential treatment filed with the Securities and Exchange Commission, confidential portions of this exhibit have been omitted and filed separately with the Securities and Exchange Commission (ii) the Majority Owner * * * is: (A) the Owner * * * whose Participating Share is greater than 25%; or (B) where the Participating Shares of a group of Related Corporations are in aggregate greater than 25%, the Owner designated by that group from time to time; (iii) a Substantial Owner is an Owner * * * whose Participating Share is 17% or greater, but not greater than 25%; (iv) a Minority Owner is an Owner * * * whose Participating Share is less than 17%; (vii) the Participating Share of an Owner will be aggregated with any Participating Shares of Related Corporations of the Owner for the purposes of determining whether the Owner is a Majority Owner, Substantial Owner or Minority Owner * * * (b) Except as provided for in this clause 10: (i) the Majority Owner * * * will be entitled and obliged to exercise all rights conferred, and perform all obligations imposed, on an Owner under the Transaction Documents * * *; and (ii) the exercise of such rights, and the performance of such obligations, will be binding on the other Owners * * * and may be relied upon by the * * * other Owner * * *.

Underlying Assets. (a) Neither an Owner nor the Manager may Dispose of all or any Iron Ore Assets or any Securities in any JV Entity which owns any Iron Ore Assets, and the Owners must procure that no JV Entity disposes of all or any Iron Ore Assets * * * (a) If an Owner Disposes of any proportionate part of its Participating Interest, then for the purposes of this Agreement: West Australian Iron Ore Production Joint Venture Agreement * * * : (2) Pursuant to a request for confidential treatment filed with the Securities and Exchange Commission, confidential portions of this exhibit have been omitted and filed separately with the Securities and Exchange Commission (ii) the Majority Owner * * * is: (A) the Owner * * * whose Participating Share is greater than 25%; or (B) where the Participating Shares of a group of Related Corporations are in aggregate greater than 25%, the Owner designated by that group from time to time; (iii) a Substantial Owner is an Owner * * * whose Participating Share is 17% or greater, but not greater than 25%; (iv) a Minority Owner is an Owner * * * whose Participating Share is less than 17%; (vii) the Participating Share of an Owner will be aggregated with any Participating Shares of Related Corporations of the Owner for the purposes of determining whether the Owner is a Majority Owner, Substantial Owner or Minority Owner * * * (b) Except as provided for in this clause 10: (i) the Majority Owner * * * will be entitled and obliged to exercise all rights conferred, and perform all obligations imposed, on an Owner under the Transaction Documents * * *; and (ii) the exercise of such rights, and the performance of such obligations, will be binding on the other Owners * * * and may be relied upon by the * * * other Owner * * *.