Search Results for keywords:"lease extension"

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Search Results: keywords:"lease extension"

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  • 2025-05389 — Central New York Railroad Corporation-Amended Lease and Operation Exemption Containing Interchange Commitment-Norfolk Southern Railway Company
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    Type:Notice
    Citation:90 FR 14176
    Reading Time:about 2 minutes

    Central New York Railroad Corporation (CNY) is a small railroad company that continues to lease and operate a rail line from Norfolk Southern Railway Company, covering about 123.1 miles between New York and Pennsylvania. This notice states that CNY plans to amend their lease to extend the term and adjust renewal conditions, while keeping all other original terms in place. CNY assures that the transaction will not make it a larger railroad and estimates their earnings won't go beyond $5 million a year. The Surface Transportation Board will allow this change to be effective from April 12, 2025, unless any misleading information is found or if objections are filed in time.

    Simple Explanation

    Central New York Railroad Corporation is going to keep using and taking care of a train track that they borrow from another train company, but they want to change a few things about their agreement without making it any harder for them or growing too big. They promise it won't earn them more than $5 million each year, and they'll start the new plan on April 12, 2025, if nobody has a problem with it.

  • 2021-03932 — Arkansas Southern Railroad, L.L.C.-Lease Exemption With Interchange Commitment-The Kansas City Southern Railway Company
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    Type:Notice
    Citation:86 FR 11820
    Reading Time:about 2 minutes

    Arkansas Southern Railroad, L.L.C. (ARS) has filed for an exemption to extend and amend its lease agreements with The Kansas City Southern Railway Company (KCS) for two railroad lines. The amendments, agreed upon in July 2020, will extend the lease until November 30, 2034, and include a commitment related to train interchange. ARS confirms this transaction won't increase their annual revenues beyond $5 million or change their carrier classification. Petitions to challenge the exemption can be submitted, with the earliest transaction effective date being March 14, 2021.

    Simple Explanation

    Arkansas Southern Railroad wants to keep using some train tracks owned by another train company, and they've agreed to use them until the year 2034. They're making a promise about how they share train tracks, but they haven't told us exactly what that promise is.