Cross Parking Agreement
1. Introduction
This Cross Parking Agreement ("Agreement") is entered into as of this 23rd day of July, 2050 by and between ApexCorp, located at Fort Worth, TX 76101, and Nextiven, located at Fremont, CA 94536. The parties agree to the terms and conditions set forth in this Agreement concerning the shared use of parking facilities.
2. Purpose
The purpose of this Agreement is to establish a mutual understanding between ApexCorp and Nextiven for the use of designated parking spaces across properties owned or operated by the parties. This Agreement aims to optimize parking resources and facilitate convenient access to parking facilities for the parties and their respective invitees.
3. Definitions
For the purposes of this Agreement, the following terms shall have the meanings set forth below:
"Parties" means [Party A] and [Party B].
"Parking Facilities" refers to parking spaces located at [Locations], owned or controlled by either of the parties.
"Authorized Users" means employees, agents, and lawful visitors of either party who are granted permission to use the parking facilities.
4. Terms and Conditions
4.1 Grant of License
Each party hereby grants to the other party and their Authorized Users a non-exclusive, revocable license to use the designated parking spaces as identified in Schedule A to this Agreement.
4.2 Use of Parking Spaces
The parking spaces may only be used for parking of vehicles. No other use is permitted without prior written consent from the respective property owner.
4.3 Maintenance and Upkeep
Each party shall be responsible for the upkeep and maintenance of the parking spaces within their control, ensuring they are in a good and safe condition.
4.4 Liability and Indemnification
Each party shall indemnify and hold harmless the other party from any claims, damages, or liabilities arising from their negligent use or occupancy of the parking facilities.
4.5 Term and Termination
This Agreement shall remain in effect until terminated by either party with at least thirty (30) days written notice to the other party.
5. Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of [State], without regard to its conflict of laws principles.
6. Entire Agreement
This Agreement constitutes the entire understanding between the parties regarding the subject matter herein and supersedes all prior or contemporaneous agreements, whether oral or written, relating to such subject matter.
7. Amendments
This Agreement may not be modified or amended except by a written instrument executed by both parties.
8. Signatures
IN WITNESS WHEREOF, the parties hereto have executed this Cross Parking Agreement as of the date first above written.
ApexCorp
Nextiven
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