Common use of USE AND POSSESSION Clause in Contracts

USE AND POSSESSION. Throughout the continuance of this Agreement so long as Lessee is not in default under this Agreement or any related Rider(s), Lessee shall be entitled to possession of each car from the date the Lease term commences as to such car. Lessee shall use each car only in the manner for which it was designed and intended, and Lessee shall subject the cars only to normal wear and tear. In addition, Lessee agrees that the cars shall at all times be used: (a) in conformity with all Interchange Rules; (b) in compliance with the terms and conditions of this Agreement and any related Rider(s); (c) in compliance with the laws of each jurisdiction in which the same are operated and in which the same may be located, and (d) predominantly in the continental limits of the United States. In the event any car is used outside of the continental United States, for any reason whatsoever, Lessee shall assume full responsibility for all costs, taxes, duties or other charges incidental to such use including costs incurred in returning car to the continental United States. Each car is limited to the number of total loaded and empty miles per calendar year shown on the Rider and is subject to a surcharge also shown on the Rider for all excess miles. Lessee shall not exceed the weight limitations prescribed for operation of cars in unrestricted interchange service as set forth under Interchange Rule 70 without Lessor’s prior written consent.

Appears in 3 contracts

Samples: www.sec.gov, Lease Agreement (Trinity Industries Inc), Lease Agreement (Highwater Ethanol LLC)

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USE AND POSSESSION. Throughout the continuance of this Agreement so long as Lessee is not in default under this Agreement or any related Rider(s), Lessee shall be entitled to possession of each car from the date the Lease term commences as to such car. Lessee shall use each car only in the manner for which it was designed and intended, and Lessee shall subject the cars only to normal wear and tear. In addition, Lessee agrees that the cars shall at all times be used: (a) in conformity with all Interchange Rules; (b) in compliance with the terms and conditions of this Agreement and any related Rider(s); (c) in compliance with the laws of each jurisdiction in which the same are operated and in which the same may be located, and (d) predominantly in the continental limits of the United States. In the event any car is used outside of the continental United States, for any reason whatsoever, Lessee shall assume full responsibility for all costs, taxes, duties or other charges incidental to such use including costs incurred in returning car to the continental United States. Each car is limited to the number of total loaded and empty miles per calendar year shown on the Rider and is subject to a surcharge also shown on the Rider for all excess miles. Lessee shall not exceed the weight limitations prescribed for operation of cars in unrestricted interchange service as set forth under Interchange Rule 70 without Lessor’s prior written consent.. EXHIBIT D

Appears in 1 contract

Samples: Master Indenture (Trinity Industries Inc)

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