Competent Authority Possessions Final Payments. (a) Where all Relevant Costs have been finally determined under paragraph 4 in respect of a Competent Authority Possession for which compensation has been received by Network Rail, Network Rail shall: (i) forward to Nexus a calculation of such sums as are due to Nexus in respect of that Possession; and (ii) pay to Nexus any compensation due in accordance with paragraph 4 in respect of that Possession: (1) plus any interest accrued; (2) less any interim payments already made in respect of that Possession under sub-paragraph 5.2(c); within 28 days after receipt of such compensation or after final determination of all Relevant Costs, whichever is the later. (b) Where Network Rail has received compensation in respect of a Competent Authority Possession for which the Relevant Costs have not been fully determined within 28 days of receipt of the compensation, Network Rail shall within 35 days of receipt of the compensation forward to Nexus a statement of: (i) all Relevant Costs which have been fully determined; (ii) all Relevant Costs of which Network Rail is aware and which have not been fully determined; (iii) interim payments already made under sub-paragraph 5.2(c) in respect of that Competent Authority Possession; and (iv) its proposals for making an interim payment in respect of that compensation. (c) Within 24 days after serving the statement under sub-paragraph 5.2(b), Network Rail shall make an interim payment to Nexus in accordance with its proposals.
Appears in 6 contracts
Samples: Track Access Agreement (Passenger Services), Track Access Agreement, Track Access Agreement (Passenger Services)
