Rolling Stock Equipment Sample Clauses
The Rolling Stock Equipment clause defines the terms and conditions related to the provision, use, and maintenance of vehicles or train cars used in a transportation agreement. It typically outlines the responsibilities of each party regarding the supply, upkeep, and return of the rolling stock, and may specify standards for condition, inspection, and repair. This clause ensures that all parties are clear on their obligations concerning the equipment, thereby minimizing disputes and ensuring the safe and efficient operation of the transportation service.
Rolling Stock Equipment. Promptly after the date hereof, CSXT and NSR each shall appoint up to four members of a committee (the "Rolling Stock Team"). The Rolling Stock Team shall meet not later than January 1, 1998 to consider an adjustment to the allocation of rolling stock Equipment (including cabooses and non-revenue rolling stock but excluding Work Equipment) to NYC and PRR, taking into consideration the following guidelines:
(i) Consideration may be given to class and builder's lot, series within a given AAR car type and AAR Depreciated Value. Consideration may be given to splitting between NYC and PRR so as to minimize ongoing maintenance and repair cost, facilitate the assignment of car reporting marks, permit customary and efficient handling, movement and interchange of rolling stock in compliance with the AAR Car Service Rules and other applicable industry requirements.
(ii) All rolling stock Equipment that CSXT and NSR agree is either (A) obsolete or (B) damaged beyond economical repair necessary to return the same to service, may be grouped in a separate category and allocated between NYC and PRR in accordance with CSX's and NSC's respective Percentage (based on AAR Depreciated Value).
(iii) Consideration will be given to traffic and service requirements on the Routes comprising the Allocated Assets based on the most current traffic information (including current and anticipated traffic density, customer needs and transportation requirements).
(iv) Head-of-train-devices and end-of-train-devices may be allocated between NYC and PRR based on current transportation needs and train starts in respect of the NYC Allocated Assets and PRR Allocated Assets, as the case may be.
(v) If agreement is not reached prior to March 31, 1998, the Rolling Stock Team will submit a list of disputed issues to the chief operating officers of CSXT and NSR.
Rolling Stock Equipment. Project Co acknowledges that the Authority or the KVH Project Co may from time to time locate, relocate, maintain and replace Rolling Stock Equipment, and Project Co will provide the Authority and the KVH Project Co with reasonable cooperation and assistance in relation to the Rolling Stock Equipment.
Rolling Stock Equipment. (1) The right of a secured party with a secu- rity interest in or of a lessor or conditional ven- dor of equipment described in paragraph (2) to take possession of such equipment in compli- ance with an equipment security agreement, lease, or conditional sale contract, and to en- force any of its other rights or remedies under such security agreement, lease, or conditional sale contract, to sell, lease, or otherwise retain or dispose of such equipment, is not limited or otherwise affected by any other provision of this title or by any power of the court, except that right to take possession and enforce those other rights and remedies shall be subject to section 362, if—
(A) before the date that is 60 days after the date of commencement of a case under this chapter, the trustee, subject to the court’s ap- proval, agrees to perform all obligations of the debtor under such security agreement, lease, or conditional sale contract; and
(B) any default, other than a default of a kind described in section 365(b)(2), under such security agreement, lease, or conditional sale contract—
(i) that occurs before the date of com- mencement of the case and is an event of de- fault therewith is cured before the expira- tion of such 60-day period;
(ii) that occurs or becomes an event of de- fault after the date of commencement of the case and before the expiration of such 60-day period is cured before the later of—
(I) the date that is 30 days after the date of the default or event of the default; or
(II) the expiration of such 60-day period; and
(iii) that occurs on or after the expiration of such 60-day period is cured in accordance with the terms of such security agreement, lease, or conditional sale contract, if cure is permitted under that agreement, lease, or conditional sale contract.
(2) The equipment described in this para- graph—
(A) is rolling stock equipment or accessories used on rolling stock equipment, including su- perstructures or racks, that is subject to a se- curity interest granted by, leased to, or condi- tionally sold to a debtor; and
(B) includes all records and documents relat- ing to such equipment that are required, under the terms of the security agreement, lease, or conditional sale contract, that is to be surren- dered or returned by the debtor in connection with the surrender or return of such equip- ment.
(3) Paragraph (1) applies to a secured party, lessor, or conditional vendor acting in its own behalf or acting as trustee or otherwise in be...