Reversion of Metered Parking System. On the Reversion Date, the Concessionaire shall surrender and deliver to the City all of its rights, title and interest in the Metered Parking System (including all improvements to the Metered Parking System, the Metered Parking System Assets and all tangible and intangible personal property of the Concessionaire (including inventories) that is included in the Metered Parking System and used in connection with the Metered Parking System Operations, subject, however, as to any intellectual property included in the Metered Parking System, to any restrictions or prohibitions to disclosure, transfer or sharing thereof and any other rights of third parties with respect thereto, all in accordance with the provisions of Section 16.4.
Reversion of Metered Parking System. (a) Parking Company may invest any money in the Excess Revenues Reserve Account in accordance with the Business Plan approved by Metro. On the Reversion Date, Parking Company shall assign, surrender and deliver to Metro or to any Replacement Company all of its rights, title and interest in the Metered Parking System (including all improvements to the Metered Parking System), the Metered Parking System Assets, the Operating Expense Account, the Capital Expense Account and the Excess Revenues Reserve Account. With respect to any third-party or proprietary software utilized by Parking Company in the operation of the Metered Parking System at the time of the Reversion Date, Parking Company and Metro will use good faith efforts to provide appropriate license rights and terms to Metro for continued operation following reversion. Parking Company will have no obligation to license propriety software or other proprietary intellectual property to Metro after the Reversion Date, but must make reasonable accommodation, at the cost and expense of Metro, to ensure continued Metered Parking System Operations to ensure uninterrupted Metered Parking System Operations through the transaction to Metro or to a replacement Operator.
Reversion of Metered Parking System. (a) On the Reversion Date, Parking Company shall relinquish to Metro or assign to any Replacement Company all of its rights, title and interest in the Metered Parking System (including all improvements to the Metered Parking System), and all Metered Parking System Assets.
