Examples of KCRC Railway in a sentence
In relation to natural extensions of the KCRC Railway, Government may adopt the Ownership Approach (i.e. with the operator responsible for the finance, construction and operation of the new railway) or the Concession Approach (i.e. with the operator responsible for the operation of the new railway through a separate service concession arrangement).
MergeCo shall maintain the status quo with respect to student fare discounts by continuing to provide a 50% discount on student fares for the MTRC Railway whilst not offering any discount on student fares for the KCRC Railway.
Section 15(6)( b) does not apply to the extent that the loss or damage arises from or is attributable to the suspension of any part of the franchise relating to the KCRC Railway.
The Operation Agreement differs from the Existing Operating Agreement to provide for, amongst other things, the nature of the combined MTRC Railway and KCRC Railway.
The Company shall maintain the status quo as at the date of the Memorandum of Understanding with respect to Student Fares discounts by continuing to provide a 50% discount on Student Fares for the MTRC Railway and no discount on Student Fares for the KCRC Railway, subject to the Fare Adjustment Mechanism applying to the Student Fares from and including the Merger Date.
For the period ending on the Merger Date, KCRC shall not increase fares for the KCRC Railway.
KCRC Common Property” (九鐵共用財產) means any Concession Property which at the time of the revocation of that part of the franchise relating to the KCRC Railways, is Concession Property kept or used by the Corporation for the purposes of or in connection with the operation of both the KCRC Railway and the Mass Transit Railway, and which falls within the definition of “KCRC Common Property” in the Service Concession Agreement.”.
In relation to natural extensions of the KCRC Railway, the Government may adopt the ownership approach (i.e. with the operator responsible for the finance, construction and operation of the New Railway) or the concession approach (i.e. with the operator responsible for the operation of the New Railway through a service concession arrangement).
BACKGROUND TO THE RAIL MERGERIn February 2004, the Government invited the Company and KCRC to commence discussions relating to a possible merger of the MTRC Railway and the KCRC Railway.
Formal notice of the Merger EGM and details of the EGM Resolution are contained on pages N-1 to N-2 of this Circular.The Rail Merger involves the following key elements:(1) the expansion of the Company’s existing franchise under the MTR Ordinance to provide the Company with the right to operate the KCRC Railway, as well as the MTRC Railway, for an initial period of 50 years from the Merger Date (this period is extendable pursuant to the MTR Ordinance and the Operating Agreement).