Container Interchange Agreement Sample Clauses

Container Interchange Agreement. TRN, NPR and the Company shall enter into a Container Interchange Agreement to optimize utilization of the serviceable equipment, subject to the best interest of the Parties and the Company. The Parties shall calculate and establish semi-annually in advance the equipment interchange rates. Such rates shall, for the first year, be established in August and December 1997; thereafter semi-annually in June and December. The rates shall be based upon the lower of (i) the aggregate average cost of each Party's respective equipment category or (ii) the market rate for such equipment. Equipment positioning costs shall be based upon the actual pro-rata costs of each Party as calculated and established semi-annually in advance. The direct, actual cost of equipment maintenance shall be passed through to the Company, whether the maintenance is performed by a Party or a third party. In addition, the Party performing the maintenance shall be entitled to receive from the Company compensation at a rate to be agreed. Both Parties shall be so compensated at the same rate. As an alternative, but only if agreed by both Parties, a maintenance allocation for each piece of equipment may be established and charged to the Company by the Party responsible for maintenance.
Sample 1
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