Yes, that is correct, but Clotilde's great-grandfather Nikolaus was no descendant of Willem I of Nassau, Prince of Orange.
Clotilde is a straight descendant of Walram II of Nassau, the "founder" of the "Luxembourgian Nassau line".
(Walram's brother Otto was the "founder" of the "Dutch Nassau line").
Elizabeth Clotilde Gräfin von Merenberg (1941)
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Georg Graf von Merenberg (1897-1965)
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Georg Nikolaus Graf von Merenberg (1871-1948)
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Nikolaus Wilhelm Prinz von Nassau (1832-1905)
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Wilhelm Herzog von Nassau (1792-1839)
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Friedrich Wilhelm Herzog von Nassau (1768-1816)
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Karl Christian Fürst von Nassau-Weilburg (1735-1788)
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Karl August Fürst von Nassau-Weilburg (1685-1753)
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Johann Ernst Fürst von Nassau-Weilburg (1664-1719)
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Friedrich Graf von Nassau-Weilburg (1640-1675)
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Ernst-Casimir Graf von Nassau-Weilburg (1607-1655)
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Ludwig II Graf von Nassau-Weilburg (1565-1627)
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Albrecht Graf von Nassau-Weilburg (1537-1593)
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Philipp III Graf von Nassau-Weilburg (1504-1559)
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Ludwig I Graf von Nassau-Weilburg (1473-1533)
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Philipp II Graf von Nassau-Weilburg (1418-1492)
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Philipp I Graf von Nassau-Weilburg (1368-1429)
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Johann I Graf von Nassau-Weilburg (1309-1471)
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Gerlach Graf von Nassau (Walram line) (1288-1361)
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Adolf Graf von Nassau (Walram line) (1255-1298)
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Walram II Graf von Nassau (founder of the Walram line) (1220-1276)
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Heinrich II Graf von Nassau (1180-1247)
He is the shared direct strictly patrilineal ancestor of Wilhelmina of Orange-Nassau (Queen of the Netherlands), as well Charlotte of Nassau (Grand-Duchess of Luxembourg), as well Elizabeth Clotilde Gräfin von Merenberg.
In 1935 Charlotte of Nassau, Grand-Duchess of Luxembourg (grandmother of the current Grand-Duke) sold the lavish
Schloss Weilburg to the State of Prussia. It is still German state-owned.
Picture
This picture as an example of how much was to gain by the Von Merenbergs and why no less than an annual rent of 40.000 Golden Marks was offered to waiver their claims.