High Mileage Sample Clauses

High Mileage. In accordance with Article 19, in the event that a car travels more than 36,000 miles (empty and loaded) in any calendar year, the Lessee shall pay the Lessor $0.03 per mile for each mile over 36,000 traveled by such car.
Sample 1
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High Mileage. In accordance with Article 20, in the event that the average number of miles traveled by all cars under this Rider exceeds 40,000 miles (empty and loaded) in any calendar year, the Lessee shall pay the Lessor $0.03 per mile for each mile over 40,000 traveled by such cars. Lessor and Lessee agree that this Rider shall constitute a separate Lease which incorporates the terms of the above referenced Railroad Car Lease Agreement. This Rider shall be severable from any other cars or riders relating to the above referenced Railroad Car Lease Agreement and shall become a separate lease which is separately transferable for all purposes. The minimum rental period for the cars leased hereunder shall be 60 months, and the cars shall continue under lease thereafter for successive 60 month terms, at the same rate and under the same conditions, unless notice, in writing, requesting cancellation shall be given by either party to the other at least sixty (60) days prior to expiration of the initial term or any successive term for cars covered by this Rider. Thereafter, this Rider shall terminate automatically upon the date of release of the last car covered by this Rider. LESSOR LESSEE By: /s/ Rxx Xxxxx By: /s/ Gxxxxxx Xxxxxxxx Title: President Title: Secretary
Sample 1

Related to High Mileage

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