Station Lease Clause Samples
Station Lease. The Authority will cease using the stations owned by the withdrawing Party upon the effective date of the Party’s withdrawal. The withdrawing Party, or other station owner, will receive the station in an as- is condition as of the effective date of the withdrawal. If the withdrawing Party is not the owner of the station at the time of withdrawal and it wishes to use the station after withdrawal, the withdrawing Party will be responsible for coordinating such use with the station’s owner. The Authority will use its best efforts to maintain the station in its condition from the date of the notice to the date of withdrawal, but will not be responsible for any normal wear and tear during the withdrawal period, nor for any deterioration or destruction of the station outside of its control.
Station Lease. BNSF/AMTRAK Lease Amendment. CITY acknowledges that AMTRAK leases the AMTRAK Premises for passenger rail operations from BNSF pursuant to the BNSF/AMTRAK Agreements, and that the CITY's proposed uses of the Building and Land are subject and subordinate to the terms and conditions of the BNSF/AMTRAK Agreements. CITY also acknowledges that BNSF is obligated to provide property in the City of ▇▇▇▇▇▇▇▇ for intercity rail passenger use under the terms of the federal Rail Passenger Service Act (Title 49 United States Code Section 24308(a)). Effective as of the Closing Date: (i) CITY shall enter into a new station lease ("Station Lease") with AMTRAK, on terms and conditions mutually acceptable to CITY and AMTRAK (and approved by BNSF) and substantially the same as those in effect under the existing BNSF/AMTRAK Agreements pertaining to AMTRAK’s use and occupancy of the AMTRAK Premises in the Building, and (ii) AMTRAK and BNSF shall amend the BNSF/AMTRAK Lease to exclude the Building from the AMTRAK Premises under the BNSF/AMTRAK Lease (the "BNSF/AMTRAK Lease Amendment"). The Station Lease will enable AMTRAK to provide an intercity railroad passenger station facility for Lawrence, Kansas, at the Building (or with other equitable replacement property if approved by AMTRAK) for so long as such obligations are required by law. The Station Lease shall be binding upon and inure to the benefit of CITY and AMTRAK, and their respective successors and assigns. As more particularly described on Exhibit "F", entry into the: (i) Station Lease by CITY and AMTRAK, (ii) BNSF/AMTRAK Lease Amendment by BNSF and AMTRAK, and (iii) Repurchase Rights Memorandum (as defined below) shall all be conditions precedent to BNSF closing on its conveyance of the Building to CITY. CITY agrees to cooperate reasonably with BNSF and AMTRAK in order to arrive at a mutually satisfactory form of Station Lease. BNSF and City, by executing this Agreement, further acknowledge that Amtrak has not waived any of its statutory rights to use the Building or any of its rights under the BNSF/ AMTRAK Agreements, and but for this acknowledgment, which Amtrak is relying upon, Amtrak would not enter into the BNSF/AMTRAK Lease Amendment or the Station Lease.