ATM Relocation Clause Samples
The ATM Relocation clause outlines the terms and conditions under which an automated teller machine (ATM) may be moved from its current location to a new site. Typically, this clause specifies the circumstances that permit relocation, such as renovations, changes in business operations, or landlord requirements, and may detail the responsibilities for costs, notice periods, and approvals needed from both parties. Its core practical function is to provide a clear process for relocating the ATM, ensuring both parties understand their rights and obligations, and minimizing disputes or disruptions to ATM services.
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ATM Relocation. (a) Notwithstanding anything contained in the P&A Agreement to the contrary, Peoples shall not purchase and is under no obligation to purchase or pay for the ATM currently located in the Mini Branch and Community Trust is under no obligation to transfer and convey such ATM.
(b) Community Trust, and Bank One in accordance with the Bank One Agreement, shall, subject to any and all necessary consents, approvals, permits or licenses, fully cooperate with Peoples in the selection of a new site at the Main Branch for the location of either a walk-up ATM or a drive-through ATM.
(c) Community Trust shall pay to Peoples $10,000 for the ATM at the Mini Branch not being transferred by Community Trust to Peoples pursuant to the P&A Agreement. Peoples shall purchase the ATM to be located at the Main Branch. Bank One, pursuant to the Bank One Agreement, shall install the ATM to be located at the Main Branch and, except as otherwise provided for herein or in the Bank One Agreement, be solely responsible for all costs associated with such installation. Peoples shall own the ATM installed at the Main Branch. Peoples shall coordinate the purchase of the ATM at the Main Branch with Community Trust to ensure that such ATM is compatible with existing Bank One systems and shall be responsible for the cost of a kiosk in the event that Peoples elects to erect a drive-through ATM. Community Trust or Bank One, in accordance with the Bank One Agreement, shall retain custody and ownership of the ATM located in the lobby of the Mini Branch.