Minor Clause Clause Samples

A Minor Clause is a contractual provision that addresses secondary or less critical aspects of an agreement, as opposed to the main terms such as payment or delivery. These clauses often cover details like notice requirements, governing law, or procedures for minor breaches. For example, a Minor Clause might specify how parties should communicate changes in contact information or outline the process for resolving small disputes. The core function of a Minor Clause is to provide clarity and structure for ancillary matters, helping to prevent misunderstandings and ensuring smooth administration of the contract.
POPULAR SAMPLE Copied 5 times
Minor Clause a) If, pursuant to a mandatory distribution of principal, any minor becomes entitled to any share of any trust created under this agreement, such share shall be retained by the Trustees, IN TRUST, to pay to the minor such part or all of the income thereof or income previously accumulated and the principal as the Trustees may, in their discretion, determine to be reasonably necessary for the minor’s support, maintenance, education, health or other benefit, or, in the case of income, accumulate any part or all for his benefit. All income and principal not previously paid as above authorized shall be paid to the minor upon his attaining majority, or upon his prior death to this estate. b) Any income or principal the Trustees are directed or authorized in the Trustees’ discretion to pay to or, in the case of income, accumulate for the benefit of a minor, including income previously accumulated, may, in the discretion of the Trustees, be paid for the benefit of such minor to a parent or guardian of such minor, or, if such minor has no parent or guardian, to a person of full age with whom such minor may be residing, or directly to such minor. The receipt of the parent, guardian or other person to whom any income or principal is paid over shall be a full discharge of the Trustees from liability with respect to such payment and from further accountability therefore.
View SourceView Similar (2)

Related to Minor Clause

  • ZIPPER CLAUSE 1. This Agreement sets forth the full and entire understanding of the parties regarding the matters herein. This Agreement may be modified, but only in writing, upon the mutual consent of the parties.

  • WAIVER CLAUSE The parties acknowledge that during the negotiations which resulted in this Agreement, each had the unlimited right and opportunity to make demands and proposals with respect to any subject matter not removed by law from the area of collective bargaining, and that the understandings and agreements arrived at by the parties after the exercise of that right and opportunity are set forth in the Agreement. Therefore, the Employer and the Association, for the life of this Agreement, each voluntarily and unqualifiedly waives the right and each agrees that the other shall not be obligated to bargain collectively with respect to any subject or matter not specifically referred to or covered in this Agreement, even though such subjects or matters may not have been within the knowledge or contemplation of either or both of the parties at the time that they negotiated or signed this Agreement.

  • Sunset Clause Notice of disciplinary action which may have been placed on the personnel file of an employee shall be destroyed after two (2) years have elapsed since the disciplinary action was taken provided that no further disciplinary action has been recorded during this period. The employee shall be notified orally when such notice has been destroyed.

  • Application of clause (1) Clause 11 applies if the Buyer, Seller and each Financial Institution involved in the transaction agree to an Electronic Settlement using the same ELNO System and overrides any other provision of this contract to the extent of any inconsistency. (2) Acceptance of an invitation to an Electronic Workspace is taken to be an agreement for clause 11.1(1). (3) Clause 11 (except clause 11.5( 3)) ceases to apply if either party gives notice under clause 11.5 that settlement will not be an Electronic Settlement.

  • BREAK CLAUSE IF YOU HAVE OPTED FOR A FIXED TERM CONTRACT YOU WILL NOT HAVE THE DETAILS OF A BREAK CLAUSE NOTED IN YOUR PARTICULARS. 5.1. The Landlord shall be entitled to serve upon the Tenant Statutory Notice of not less than two calendar months to break this tenancy. Such Notice: 5.1.1. Shall be at least 2 months’ notice to break this Tenancy 5.1.2. Shall not expire before the end of the «D0000_401C_0#Landlord_notice_take_effect» month of the term 5.