LAPCO Container definition
Examples of LAPCO Container in a sentence
Notwithstanding the foregoing, this Agreement shall continue in full force and effect with respect to each LAPCO Container and Manager shall continue to manage such LAPCO Container pursuant to the terms and conditions of this Agreement, until the date such LAPCO Container becomes a Terminated Container.
Manager may, in its discretion, obtain and maintain in force contingency insurance against all or any portion of the risks described in Clause 8.1, which may provide coverage when: (i) recoveries are not effected under any policies in force pursuant to Clause 8.1, and/or (ii) any LAPCO Container is not returned to Manager by a Lessee (including coverage of the costs of recovering such Container), or (iii) a Lessee or container depot fails to obtain insurance as provided under Clause 8.1.
LAPCO shall have no right to recover possession or control of any LAPCO Container prior to the date such LAPCO Container becomes a Terminated Container.
Subject to the provisions of Clauses 9 and 10, this Agreement shall continue in force with respect to a LAPCO Container until the earlier of the destruction or loss of such Container, or the sale or other disposition of such Container by Manager pursuant to the terms of this Agreement.