Non Operating Properties Sample Clauses

Non Operating Properties. The Authority is solely responsible for entering into, extending, or terminating all non-operating leases, licenses, and easements on all Authority property, including the Railroad Premises. The Authority shall receive any and all payments arising from any leases, private crossings, easements, licenses and occupations or renewals thereof on any portion of the Railroad Premises, including, but not limited to, rents, license fees, crossing fees, easement fees, and other revenues paid by any party occupying a portion of the Railroad Premises with poles and wire, and rentals and fees for signboards, platform locations, driveways, storage facilities, side tracks, pipe lines, water rights, fiber optics, land rents, building rents and water tank rents, among other things. The Authority shall collect such amounts as they become due and such amounts shall not accrue to the Operator unless otherwise agreed by the Authority and the Operator in writing. The Authority shall determine the properties classified as “Non-Operating Properties,” except that any such designation shall not interfere with Operator’s ability to fulfill its obligations under this Agreement. In addition, the Authority shall have the unilateral right to withdraw such portions of the Railroad Premises from the provisions of this Agreement, including any tracks, railroad lines, buildings, land or any other property, as it deems appropriate so long as such withdrawal will not unreasonably interfere with Operator’s ability to fulfill its common carrier obligations and to provide Rail Freight Service to customers under this Agreement. Furthermore, the Authority may add additional premises to the Railroad Premises as it reasonably determines are necessary for the Operator’s performance of this Agreement, in its sole discretion. In such event, Operator and Authority will cooperate in obtaining approval of the STB and any other applicable governmental agencies, to the extent required, to include such additional premises within the Railroad Premises under this Agreement.
Sample 1
AutoNDA by SimpleDocs
Non Operating Properties 
Sample 1

Related to Non Operating Properties

  • Real Properties The Company does not have an interest in any real property, except for the Leases (as defined below).

  • Leased Properties Section 3.22 of the Disclosure Schedule sets forth a list of all of the leases and subleases ("Leases") and each leased and subleased parcel of real property in which the Company has a leasehold or subleasehold interest or to which the Company is a party either as landlord or sublandlord (the "Leased Real Property"). Each of the Leases are in full force and effect, and the Company holds a valid and existing leasehold or subleasehold interest or Landlord or Sublandlord interest as applicable, under each of the Leases described in Section 3.22 of the Disclosure Schedule. The Company has delivered to HK true, correct, complete and accurate copies of each of the Leases. With respect to each Lease set forth on Section 3.22 of the Disclosure Schedule: (i) the Lease is legal, valid, binding, enforceable and in full force and effect; (ii) to the Knowledge of the Company the Lease will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms following the Closing; (iii) neither the Company, nor, to the Knowledge of the Company, any other party to the Lease, is in breach or default, and no event has occurred which, with notice or lapse of time, would constitute such a breach or default by the Company or permit termination, modification or acceleration under the Lease by any other party thereto; (iv) the Company has not, and, to the Knowledge of the Company, no third party has repudiated any provision of the Lease; (v) there are no disputes, oral agreements, or forbearance programs in effect as to the Lease; (vi) the Lease has not been modified in any respect, except to the extent that such modifications are disclosed by the documents delivered to HK; (vii) the Company has not assigned, transferred, conveyed, mortgaged, deeded in trust or encumbered any interest in the Lease (except for Permitted Liens); and (viii) the Lease is fully assignable to HK without the necessity of any consent or the Company shall obtain all necessary consents prior to the Closing.

  • Unencumbered Properties Each Property included in any calculation of Unencumbered Asset Value or Unencumbered NOI satisfied, at the time of such calculation, all of the requirements contained in the definition of “Unencumbered Property Criteria.”

  • The Properties 3.1 All of the Properties are in England, Wales or Scotland.

  • Operations and Properties Borrower shall, and shall cause each of its Subsidiaries to, act prudently and in accordance with customary industry standards in managing or operating its assets, properties, business and investments. Borrower shall, and shall cause each of its Subsidiaries to, keep in good working order and condition, ordinary wear and tear excepted, all of its assets and properties which are necessary to the conduct of its business.

  • Oil and Gas Operations (a) All wxxxx included in the Oil and Gas Interests of the Company have been drilled and (if completed) completed, operated and produced in accordance with generally accepted oil and gas field practices and in compliance in all respects with applicable oil and gas leases and applicable laws, rules and regulations, except where any failure or violation could not reasonably be expected to have a Material Adverse Effect on the Company; and

  • Borrowing Base Properties (a) Except where the failure to comply with any of the following would not have a Material Adverse Effect, each of Parent and Borrower shall, and shall use commercially reasonable efforts to cause each other Loan Party or the applicable tenant, to:

  • Leasehold Properties In relation to those Properties which are leasehold:

  • Operating Leases Not permit the aggregate amount of all rental payments under Operating Leases made (or scheduled to be made) by the Loan Parties (on a consolidated basis) to exceed $1,000,000 in any Fiscal Year.

  • Owned Properties The Company does not own any real property.

Time is Money Join Law Insider Premium to draft better contracts faster.