Sub-Lease of Class 156 Diesel Multiple Unit

Description

Northern Trains Limited requires the temporary lease of additional rolling stock to support passenger rail operations on the Northumberland line as requested and funded by North East Mayoral Strategic Authority (NEMSA). The arrangement comprises the sub-lease of one Class 156 two-car diesel multiple units from ScotRail Trains Limited. The lease makes provision for sub-leasing of the rolling stock to other operators in specified circumstances under the lease, either on a short-term basis (under 48 hours) or on a longer term basis with consent. The lease also permits the assignment, transfer, novation or disposal of all of rights and obligations of the lessee under the lease (a "Transfer") to a public sector company who will also operate the rolling stock on the Northern Network. The lease also contains mechanisms which allow for modification of the rolling stock provided under the lease at the request of either Northern or the lessor, including where this is required by law ("the Modification Provisions"). In the event that the rolling stock is let to a third party, the lease is subject to a Transfer or any of the Modification Provisions are engaged, it is considered that these would be permitted modifications provided for in the contract.