TRACK REMOVAL Sample Clauses

TRACK REMOVAL. Upon the termination of this Agreement, or if the Track be abandoned or be no longer used for the purpose for which constructed, each of the parties hereto shall have the right to take up and remove that portion of the Track owned by it without liability of any kind to the other party for so doing. If a portion of the Track owned by INDUSTRY is constructed across or along a public street, RAILROAD shall have the right to require INDUSTRY, at INDUSTRY’s sole cost and expense, to remove the Track from the street and to restore the pavement, sidewalks, water mains, sewer and other utilities located therein, by giving written notice to INDUSTRY prior to the expiration of the term of this Agreement. INDUSTRY shall cause such work to be performed within ninety (90) days after receipt of RAILROAD’s notice. If INDUSTRY fails to remove the Track and restore the property, RAILROAD shall have the right to perform the work at the sole risk and expense of INDUSTRY.
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TRACK REMOVAL. 17. Upon the termination of this Agreement, Railway may discontinue the operation of the Track and remove its property from the premises. Subject to the requirements of Section 6(a), Industry immediately will take up and remove the track materials in that portion of the Industry Segment located upon the Premises. The work of taking up such track materials on the Premises will be done, if Railway elects, by Railway at the sole expense of Industry.

Related to TRACK REMOVAL

  • Legend Removal Certificates evidencing the Underlying Shares shall not contain any legend (“Unlegended Shares”) (including the legend set forth in Section 4.1(b) hereof): (i) while a registration statement covering the resale of such security is effective under the Securities Act, (ii) following any sale of such Underlying Shares pursuant to Rule 144, (iii) if such Underlying Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such Underlying Shares and without volume or manner-of-sale restrictions or (iv) if such legend is not required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission). The Company shall cause its counsel to issue a legal opinion to the Transfer Agent during the time any of the aforedescribed conditions apply, to effect the removal of the legend hereunder. If all or any Notes are converted or any portion of a Warrant is exercised at a time when there is an effective registration statement to cover the resale of the corresponding Underlying Shares, or if such Underlying Shares may be sold under Rule 144 or if such legend is not otherwise required under applicable requirements of the Securities Act (including judicial interpretations and pronouncements issued by the staff of the Commission) then such Underlying Shares shall be issued free of all legends. The Company agrees that following such time as such legend is no longer required under this Section 4.1(d), it will, no later than five Trading Days following the delivery by the Purchaser to the Company or the Transfer Agent of a certificate representing Underlying Shares, as applicable, issued with a restrictive legend (such fifth Trading Day, the “Legend Removal Date”), deliver or cause to be delivered to such Purchaser a certificate representing such shares that is free from all restrictive and other legends (however, the Corporation shall use reasonable best efforts to deliver such shares within three (3) Trading Days). The Company may not make any notation on its records or give instructions to the Transfer Agent that enlarge the restrictions on transfer set forth in this Section 4.1. Certificates for Underlying Shares subject to legend removal hereunder shall be transmitted by the Transfer Agent to the Purchaser by crediting the account of the Purchaser’s prime broker with the Depository Trust Company System as directed by such Purchaser.

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