NACCO definition
Examples of NACCO in a sentence
All notices required or permitted pursuant to this Agreement must be in writing and will be deemed to be properly given when actually received by the Person entitled to receive the notice at the address stated below, or at such other address as a Party may provide by notice to the other: If to Parent: NACCO Industries, Inc.
EXCEPT AS PROVIDED IN SECTION 1.7, NONE OF THE PARTIES MAKES ANY WARRANTY CONCERNING THE TRANSITION SERVICES AND THE WARRANTY IN SUCH SECTION 1.7 IS IN LIEU OF ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, INCLUDING ANY WARRANTY THAT THE SERVICES PROVIDED UNDER THIS AGREEMENT WILL BE SUFFICIENT TO ALLOW HYSTER-YALE OR NACCO TO SUCCESSFULLY TRANSITION, MANAGE OR OPERATE ITS BUSINESS.
Subject to the terms and conditions of this Agreement, during the Transition Period, Hyster-Yale will, or will cause one of its Subsidiaries to, provide to NACCO and/or a designated Subsidiary of NACCO, as the case may be, the transitional services and assistance (together, the “Hyster-Yale Transition Services” and, together with the NACCO Transition Services, the “Transition Services”) set forth on Schedule B hereto.
Hyster-Yale will cause the Hyster-Yale Employees providing the Transition Services to cooperate with the NACCO Employees during the Transition Period, but Hyster-Yale will have no other duty or obligation with respect to such NACCO Employees.
NACCO will cause its or its Subsidiaries’ employees providing the Transition Services (together, the “NACCO Employees”) to cooperate with the employees of Hyster-Yale and/or its Subsidiaries (the “Hyster-Yale Employees”) during the Transition Period, but neither NACCO nor its Subsidiaries will have any other duty or obligation with respect to such Hyster-Yale Employees.
Each of NACCO and Hyster-Yale will perform, or will cause to be performed, the Transition Services (a) in such manner as is substantially similar in nature, quality and timeliness to the services provided by NACCO, Hyster-Yale or their respective Subsidiaries, as applicable, prior to the date hereof and (b) in accordance with all applicable Laws.
Subject to the terms and conditions of this Agreement, during the Transition Period (as defined below), NACCO will, or will cause one of its Subsidiaries to, provide to Hyster-Yale and/or a designated Subsidiary of Hyster-Yale the transitional services and assistance (together, the “NACCO Transition Services”) set forth on Schedule A hereto.
The provision of the Transition Services shall not alter the classification of, or the compensation and employee benefits provided to the NACCO Employees or the Hyster-Yale Employees.
During the Transition Period, any or all of the Transition Services may be modified in any respect upon mutual written agreement of NACCO and Hyster-Yale, and such written agreement shall be deemed to supplement and amend this Agreement.
In particular, the Partnership is initially designed as a vehicle for consolidating the management of the Partnership Property, specifically including NACCO Class B Shares and NACCO Class A Shares, providing for the succession of such management, and enhancing total returns from the Partnership Property.