Calculation of TOP Rebate Sample Clauses

Calculation of TOP Rebate. (a) Within 20 Business Days of the end of each Contract Year, ARTC will undertake an annual reconciliation of the Rebate owing to the Access Holder in respect of each Train Path in each Pricing Zone determined in accordance with the following formula (“Annual Reconciliation”): If APU < ACP Where: APU is the Actual Path Usages being, subject to clause 16.5, the total number of Path Usages in the Pricing Zone in respect of which the Operator actually operated a Service for the Access Holder on that Train Path in the previous Contract Year; ACP is the Annual Contracted Path Usages for that Train Path in the Pricing Zone specified in the Train Path Schedules; then the Access Holder is entitled to a Rebate equal to the lesser of the rebate applicable for the annual deficiency in contracted Path Usages for that Train Path in the Pricing Zone and the sum of the accrued system monthly rebates under Schedule 2 in respect of that Train Path in the Pricing Zone as determined in accordance with the following formulae: (i) if (ACP - APU) x TOP ≤ ∑ (SMR1,…SMR12), (ACP - APU) x TOP (ii) if (ACP - APU) x TOP > ∑ (SMR1….SMR12), ∑ (SMR1….SMR12)
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Calculation of TOP Rebate. (a) Within 20 Business Days of the end of each Contract Year, ARTC will undertake an annual reconciliation of the Rebate owing to the Access Holder for each Train Path in each Pricing Zone determined in accordance with the following formula (“Annual Reconciliation”): If APU < ACP Where: APU is the Actual Path Usages being, subject to clause 16.5, the total number of Path Usages in the Pricing Zone in respect of which the Operator actually operated a Service for the Access Holder on that Train Path in the previous Contract Year; ACP is the unconditional Annual Contracted Path Usages for that Train Path in the Pricing Zone specified in the Train Path Schedules; Deleted: 1 April 2010 Deleted: 1 April 2010
Sample 1
Calculation of TOP Rebate. ‌ (a) Within 20 Business Days of the end of each Contract Year, ARTC will undertake an annual reconciliation of the Rebate owing to the Access Holder for each Train Path in each Pricing Zone determined in accordance with the following formula (“Annual Reconciliation”): If APU < ACP Where: APU is the Actual Path Usages being, subject to clause 16.5, the total number of Path Usages in the Pricing Zone in respect of which the Operator actually operated a Service for the Access Holder on that Train Path in the previous Contract Year; ACP is the unconditional Annual Contracted Path Usages for that Train Path in the Pricing Zone specified in the Train Path Schedules; then the Access Holder is entitled to a Rebate equal to the lesser of the rebate applicable for the annual deficiency in contracted Path Usages for that Train Path in the Pricing Zone and the sum of the accrued system rebates under Schedule 2 in respect of that Train Path in the Pricing Zone, as determined in accordance with the following formulae: (i) if (ACP - APU) x TOPPUZ ≤ ∑ (SPR1…SPRN), (ACP - APU) x TOPPUZ (ii) if (ACP - APU) x TOPPUZ > ∑ (SPR1…SPRN) , (SPR1…SPRN) Where: TOPPUZ is the Train Path TOP Charge associated with a Path Usage for that Train Path in for that Pricing Zone which will be calculated by dividing the sum of the Train Path TOP Charge for that Pricing Zone in that Contract Year (the Train Path TOP Charge for each Month for the initial year are set out in column 10 of the tables in clause 3.2 and 3.3 of the Train Path Schedule) by the Annual Contracted Path Usages (which for the initial year are set out in column 2 of the tables in clause 3.2 and 3.3 of the Train Path Schedule);, as defined in clause 1.2 of Schedule 3; ∑ (SPR1…SPRN) is the sum of the system rebates accrued by the Access Holder for that Train Path in that Pricing Zone in the previous Contract Year, calculated in accordance with Schedule 2 of this agreement. APU and ACP have the meaning set out in clause 5.4(a) (b) Within 20 Business Days of performing the Annual Reconciliation ARTC will make a payment to the Access Holder of the Rebate determined under clause 5.4(a). (c) Except as required under clause 5.8, ARTC is not required to pay any interest in relation to the Rebate. (d) If the Access Holder disputes the amount of the Rebate, it must notify ARTC of that dispute under clause 14 within one month of the date of the issue of the Annual Reconciliation and the dispute will be determined by expert determination...
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