Pacific National Pty Ltd - s.87B undertaking

Company or individual details

  • Pacific National Pty Ltd
    098 060 550

Undertaking

Pacific National Pty Ltd (‘PN’) has undertaken that if, on or after the date that settlement of the acquisition by PN of Freight Australia (‘FA’) occurs, the Somerton Siding is controlled by PN, that PN will use its best endeavours to transfer control of the Somerton Siding to a party independent of PN.

PN has undertaken that:

  • if, at the date that settlement of its acquisition of FA occurs, the Somerton Siding is controlled by FA under the Primary Infrastructure Lease, then PN will use its best endeavours to cause FA to execute a sub-sub lease of relevant sections of the Somerton Siding, in favour of the Australian Rail Track Corporation Limited (‘ARTC’), on reasonable terms and conditions;
  • if, at the date that settlement of its acquisition of FA occurs, FA has rights in relation to the Somerton Siding under any easement in favour of FA, then PN will use its best endeavours to execute a licence in favour of ARTC of the rights in the Somerton Siding which are the subject of the easement in favour of FA, on reasonable terms and conditions;
  • if at the date of the settlement of its acquisition of FA the Somerton Siding is controlled by FA under the Primary Infrastructure Lease, then PN will cause FA to use its best endeavours to grant to ARTC a concurrent lease of its interest in the Austrak Sub-Sub-Lease on reasonable terms and conditions; and
  • neither it nor FA will hinder or prevent access to the Somerton Siding by a third party rail operator which is seeking access to the Somerton Siding.  This excludes reasonable use by PN of the track in the Somerton area as is necessary for the purposes of its business operations.


PN has also undertaken:

  • to cause FA to continue to supply to Specialised Container Transport (‘SCT’) the services provided for under the SCT Agreement (as varied), in accordance with the terms of the SCT Agreement (as varied); and
  • to cause FA to negotiate with SCT in good faith if  SCT wishes to further extend the term of the SCT Agreement, or amend the terms and conditions of the services provided by FA, or if SCT wishes to amend the services it wishes to acquire under the SCT Agreement

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