Common use of OWNERSHIP OF BUS DEPOT Clause in Contracts

OWNERSHIP OF BUS DEPOT. It is hereby clarified that the ownership of the Bus Depot shall remain vested solely with the Authority at all times. The Operator shall only be provided the limited right of way and right to use as a licensee under the Depot License Agreement in respect of the Bus Depot and upon the end of the Transition Assistance Period, the Depot License Agreement shall also terminate or expire, whereupon the Operator shall vacate and hand back to the Authority such Bus Depot along with any permanent structure(s) created by it to fulfil its obligations as per the terms of this Contract. Provided however, upon such termination or expiration of Contract, the Operator shall be entitled to remove any equipment, machinery, tools, apparatus, consumables, etc. procured and brought by it, at its own cost, to the Bus Depot during the Contract Period for implementing the Project.

OWNERSHIP OF BUS DEPOT. It is hereby clarified that the ownership of the Bus Depot shall remain vested solely with the Authority at all times. The Operator shall only be provided the limited right of way and right to use as a licensee under the Depot License Agreement in respect of the Bus Depot and upon the end of the Transition Assistance Period, the Depot License Agreement shall also terminate or expire, whereupon and the Operator shall vacate and hand back to the Authority such Bus Depot along with any permanent structure(s) created by it to fulfil its obligations as per the terms of this Contract. Provided however, upon such termination or expiration of Contract, the Operator shall be entitled to remove any equipment, machinery, tools, apparatus, consumables, etc. procured and brought by it, at its own cost, to the Bus Depot during the Contract Period for implementing the Project.

OWNERSHIP OF BUS DEPOT. It is hereby clarified that the ownership of the Bus Depot shall remain vested solely with the Authority at all times. The Operator shall only be provided the limited right of way and right to use as a licensee under the Depot License Agreement in respect of the Bus Depot and upon the end of the Transition Assistance Period, the Depot License Agreement shall also terminate or expire, whereupon the Operator shall vacate and hand back to the Authority such Bus Depot along with any permanent structure(s) created by it to fulfil its obligations as per the terms of this Contract. Provided however, upon such termination Termination or expiration of ContractExpiry, the Operator shall be entitled to remove any equipment, machinery, tools, apparatus, consumables, etc. procured and brought by it, at its own cost, to the Bus Depot during the Contract Period for implementing the Project.