Dublin United Tramways (Lucan Electric Railways) Act, 1927

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SECOND SCHEDULE.

Memorandum of Agreement made the 4th day of January, 1927, between Alice M. Keohane, wife of Patrick Thomas Keohane of St. Nessan's, Sutton, Co. Dublin; Arthur C. J. Cox of 5, Saint Stephen's Green, Dublin; Francis Elliott Scallan of Ludford Park, Dundrum, Co. Dublin; Herbert Harrison of Hollybrook Cottage, Foxrock, Co. Dublin; John Plunkett Dillon of Clonlea, Dundrum, Co. Dublin; Mrs. Sarah E. Hill of 49, Belgrave Square, Rathmines, Co. Dublin; Arthur C. J. Cox, surviving administrator of R. T. Scallan, deceased, 5, Saint Stephen's Green, Dublin; Patrick Thomas Keohane, John Walsh and William Paul Kelly all of 50, Upper O'Connell Street, Dublin; and Reverend Francis M. Browne of Saint Francis Xavier's, Gardiner Street, Dublin, shareholders of the Lucan and Leixlip Electric Railway Company hereinafter called “the shareholders” of the 1st part and the Dublin United Tramways Company (1896) Limited having its registered office at 59 Upper O'Connell Street in the City of Dublin hereinafter called “the Company” of the second part. Whereas by Order in Council dated the 2nd day of December, 1910, and entitled the “Lucan and Leixlip Electric Railway Order, 1910,” the Lucan and Leixlip Electric Railway Company hereinafter called The Leixlip Company was incorporated as a Company Limited by shares. And Whereas the said Order in Council authorised the Leixlip Company to construct and maintain an electric railway on the public road between the town of Lucan and Doddsborough Corner. And Whereas the Leixlip Company duly constructed the said Electric Railway. And Whereas by Section 51 of the said Order in Council the Leixlip Company was empowered to lease their undertaking to any body corporate. And Whereas by Indenture of Lease dated the 17th day of August, 1911, and made between the Leixlip Company and the Dublin and Lucan Electric Railway Company the former leased to the latter their said undertaking upon the latter entering into a covenant to maintain the said Undertaking and to pay all rates taxes and outgoings of whatsoever nature in connection with the said Electric Railway from the town of Lucan to Doddsborough Corner. And Whereas the shareholders hold all the shares in the Leixlip Company and are desirous of transferring all their said shares to the Company and the Company are desirous of purchasing the same for the sum of £800.

NOW IT IS HEREBY AGREED as follows:—

1. The Company shall forthwith promote in the Oireachtas a Private Bill containing all the provisions necessary to enable them to carry out the terms of this agreement and shall take all reasonable steps necessary to insure that the said Bill shall become law prior to the 1st July, 1927. The said Private Bill may contain such additional or other clauses dealing with such other matters as the Purchasers may think fit provided that any such additional or other clauses shall not impose any liability upon the shareholders or vary or affect this agreement or prejudice the rights of the shareholders under this agreement.

2. If and when the Company shall have acquired the necessary Statutory Authority to purchase the said shares the Shareholders shall sell and transfer and the Company shall purchase and accept the transfer of all the Shares of the Leixlip Company.

3. The consideration for the said transfer shall be the sum of £800 to be divided as follows:—

(1). To Mrs. Alice M. Keohane, shareholder, the sum of £25 in consideration for the transfer of five fully paid shares of £10 each, numbered 156 to 160 inclusive in the Register of shares of the Leixlip Company.

(2). To Arthur C. J. Cox, shareholder, the sum of £25 in consideration for the transfer of five fully paid shares of £10 each numbered 6 to 10 inclusive in the Register of shares of the Leixlip Company.

(3). To Francis Elliott Scallan, shareholder, the sum of £595 in consideration for the transfer of 119 fully paid shares of £10 each numbered 1 to 5 inclusive, 11 to 110 inclusive, 117 to 125 inclusive and 141 to 145 inclusive in the Register of shares of the Leixlip Company.

(4). To Herbert Harrison, shareholder, the sum of £10 in consideration for the transfer of 2 fully paid shares of £10 each, numbered 113 and 114 in the Register of shares of the Leixlip Company.

(5). To John Plunkett Dillon, shareholder, the sum of £25 in consideration for the transfer of 5 fully paid shares of £10 each numbered 136 to 140 inclusive in the Register of shares of the Leixlip Company.

(6). To Mrs. Sarah E. Hill, shareholder, the sum of £35 in consideration for the transfer of 7 fully paid shares of £10 each numbered 115 and 116 and 146 to 150 inclusive in the Register of shares of the Leixlip Company.

(7). To Arthur C. J. Cox, surviving administrator of R. T. Scallan, deceased, shareholder, the sum of £10 in consideration for the transfer of 2 fully paid shares of £10 each numbered 111 and 112 in the Register of shares of the Leixlip Company.

(8). To Patrick Thomas Keohane, John Walsh and William Paul Kelly, joint shareholders, the sum of £25 in consideration for the transfer of 5 fully paid shares of £10 each numbered 131 to 135 inclusive in the Register of shares of the Leixlip Company.

(9). To Reverend Francis M. Browne, shareholder, the sum of £50 in consideration for the transfer of 10 fully paid shares of £10 each numbered 126 to 130 inclusive and 151 to 155 inclusive in the Register of shares of the Leixlip Company.

4. The shareholders shall effect the transfer of the said shares within fourteen days from the passage into law of the said Private Bill, and upon the same day as the said transfer the Company shall pay the consideration in the divisions set out in paragraph 3 hereof.

5. Should the Company having used all reasonable expedition and taken all reasonable steps to obtain the passage into law of the said Private Bill fail to obtain the same on or before the 1st day of July, 1927, or in the event of the Oireachtas contrary to the contentions of the Company inserting in the Private Bill to be promoted in pursuance of this agreement, onerous provisions not acceptable to the Company or inconsistent with the provisions of this agreement, then in either of such event the Company shall be under no obligation to make any further attempt to obtain any such Act or carry out the terms of this agreement, and shall thereupon be entitled to rescind the same by one week's notice in writing, whereupon the same shall be deemed to have been completely nullified in all respects and in any event the Company shall be under no obligation to promote more than one Private Bill in the Oireachtas for the obtaining of powers to carry out this agreement. In the event of the said purchase not having been completed by the Company by the 31st day of July, 1927, it shall be lawful for the shareholders to rescind this agreement by one week's notice in writing to the Company.

6. The Shareholders jointly and severally covenant with the Company that after the date of this agreement and pending the passage into law of the said Private Bill (subject to the provisions of Clause 5 hereof) they shall not allow the Leixlip Company to enter into any new continuing contract without the approval of the Company.

7. The Private Bill to be promoted by the Company shall provide that the Undertaking of the Leixlip Company shall vest in the Company as of the date of the passage into law of the said Private Bill but the purchase of the said shares shall be deemed to date back to the date of this agreement.

IN WITNESS WHEREOF the parties of the first part hereto have respectively set their hands and affixed their seals and the Company has hereunto affixed its Common Seal the day and year first herein Written.