Common use of Determination of the Relinquishment Fee Clause in Contracts

Determination of the Relinquishment Fee. (a) The Relinquishment Fee is the amount equivalent to the present value, calculated at the Discount Rate, of the payment of the aggregate TOP Charges (ATPY) for the relevant Train Service Types that would have been payable for the remainder of the Term if the Nominated Access Rights were not relinquished but the Operator did not operate the relevant Train Services (NPV Amount) less the amount which is the product of the NPV Amount and the greater of: (i) 0.5; and (ii) the Reduction Factor. (b) If the calculation of the Relinquishment Fee requires information about future events (for example, assumptions about Reference Train Services or Train Services), then Aurizon Network: (i) may make assumptions about those future events so as to calculate the maximum amount of aggregate TOP Charges (ATPY) for the relevant Train Service Types that could potentially be payable, provided that: (A) if an Access Charge Rate is based on a Reference Tariff, Aurizon Network must not make assumptions about the amount of future Reference Tariffs applicable to that Access Charge Rate; and (B) if an Access Charge Rate has been determined in accordance with the pricing principles in Part 6 of the Access Undertaking, where there is not yet a Reference Tariff for the Access Charge Rate but it is reasonably anticipated by Aurizon Network that a Reference Tariff applicable to that Access Charge Rate will be made or approved, Aurizon Network may make assumptions about the amount of the anticipated Reference Tariff and the variation that Aurizon Network could make to that Access Charge Rate to apply in the future in accordance with schedule 4 (if applicable) when the anticipated Reference Tariff is made or approved; and (ii) may assume that each of the Access Charge Rates (as at the Relinquishment Date) will escalate, on each 1 July, at the rate of 2.5% per annum for the remainder of the Term. (c) Where: (i) the Reduction Factor is calculated in accordance with (ii) the Reference Tariff in relation to the Nominated Access Rights includes a System Discount or System Premium, then the Relinquishment Fee must be further adjusted by Aurizon Network to account for any consequential decrease or increase (as applicable) in the System Discount or System Premium (as applicable) that would otherwise result in Aurizon Network under-recovering or over-recovering (as applicable) amounts from the Operator due to the application of the System Discount or System Premium (as applicable). (d) Despite any other provision in this clause 12.3, if the Relinquishment Fee is calculated to be an amount that is less than zero, then the Relinquishment Fee will be zero.

Determination of the Relinquishment Fee. (a) The Relinquishment Fee is the amount equivalent to the present value, calculated at the Discount Rate, of the payment of the aggregate TOP Charges (ATPY) for the relevant Train Service Types that would have been payable for the remainder of the Term if assuming: (i) the Nominated Access Rights were not relinquished but the Operator did not operate relinquished; and (ii) the relevant Train Services were not operated for a reason other than Aurizon Network Cause; (NPV PV Amount) less the amount which is the product of the NPV PV Amount and the greater of: (i) 0.5; and (ii) the Reduction Factor. (b) If the calculation of the Relinquishment Fee requires information about future events (for example, assumptions about Reference Train Services or Train Services), then Aurizon Network: (i) may make reasonable assumptions about those future events so as to calculate the maximum amount of aggregate TOP Charges (ATPY) for the relevant Train Service Types that could potentially be payable, provided that: (A) if an Access Charge Rate is based on a Reference Tariff, Aurizon Network must not make assumptions about the amount of future Reference Tariffs applicable to that Access Charge Rate; and (B) if an Access Charge Rate has been determined in accordance with the pricing principles in Part 6 of the Access Undertaking, where there is not yet a Reference Tariff for the Access Charge Rate but it is reasonably anticipated by Aurizon Network that a Reference Tariff applicable to that Access Charge Rate will be made or approved, Aurizon Network may make reasonable assumptions about the amount of the anticipated Reference Tariff and the variation that Aurizon Network could make to that Access Charge Rate to apply in the future in accordance with schedule 4 (if applicable) when the anticipated Reference Tariff is made or approved; and; (ii) may assume that each of the Access Charge Rates (as at the Relinquishment Date) will escalate, on each 1 July, at the rate of 2.5% per annum for the remainder of the Term.; and (ciii) Where: (i) must notify the Reduction Factor is calculated in accordance with (ii) the Reference Tariff in relation to the Nominated Access Rights includes a System Discount or System Premium, then the Relinquishment Fee must be further adjusted End User of all assumptions made by Aurizon Network to account for any consequential decrease or increase (as applicableunder this clause 13.3(b) in the System Discount or System Premium (as applicable) provided that would otherwise result in Aurizon Network under-recovering or over-recovering (as applicable) amounts from the Operator due to the application of the System Discount or System Premium (as applicable). (d) Despite any other provision nothing in this clause 12.3, if the Relinquishment Fee is calculated 13.3(b) requires Aurizon Network to be an amount that is less than zero, then the Relinquishment Fee will be zerobreach any duty of confidentiality owed to a third party.

Determination of the Relinquishment Fee. (a) The Relinquishment Fee is the amount equivalent to the present value, calculated at the Discount Rate, of the payment of the aggregate TOP Charges (ATPY) for the relevant Train Service Types that would have been payable for the remainder of the Term if assuming: (i) the Nominated Access Rights were not relinquished but the Operator did not operate relinquished; and (ii) the relevant Train Services were not operated for the End User for a reason other than Aurizon Network Cause, (NPV PV Amount) less the amount which is the product of the NPV PV Amount and the greater of: (iiii) 0.5; and (iiiv) the Reduction Factor. (b) If the calculation of the Relinquishment Fee requires information about future events (for example, assumptions about Reference Train Services or Train Services), then Aurizon Network: (i) may make reasonable assumptions about those future events so as to calculate the maximum amount of aggregate TOP Charges (ATPY) for the relevant Train Service Types that could potentially be payable, provided that: (A) if an Access Charge Rate is based on a Reference Tariff, Aurizon Network must not make assumptions about the amount of future Reference Tariffs applicable to that Access Charge Rate; and (B) if an Access Charge Rate has been determined in accordance with the pricing principles in Part 6 of the Access Undertaking, where there is not yet a Reference Tariff for the Access Charge Rate but it is reasonably anticipated by Aurizon Network that a Reference Tariff applicable to that Access Charge Rate will be made or approved, Aurizon Network may make reasonable assumptions about the amount of the anticipated Reference Tariff and the variation that Aurizon Network could make to that Access Charge Rate to apply in the future in accordance with schedule 4 (if applicable) when the anticipated Reference Tariff Xxxxxx is made or approved; and; (ii) may assume that each of the Access Charge Rates (as at the Relinquishment Date) will escalate, on each 1 July, at the rate of 2.5% per annum for the remainder of the Term; and (iii) must notify the End User of all assumptions made by Aurizon Network under this clause 11.3(b) provided that nothing in this clause 11.3(b) requires Aurizon Network to breach any duty of confidentiality owed to a third party. (c) Where: (i) the Reduction Factor is calculated in accordance with (ii) the Reference Tariff in relation to the Nominated Access Rights includes a System Discount or System Premium, then the Relinquishment Fee must be further adjusted by Aurizon Network to account for any consequential decrease or increase (as applicable) in the System Discount or System Premium (as applicable) that would otherwise result in Aurizon Network under-recovering or over-recovering (as applicable) amounts from the Operator End User due to the application of the System Discount or System Premium (as applicable). (d) Despite any other provision in this clause 12.311.3, if the Relinquishment Fee is calculated to be an amount that is less than zero, then the Relinquishment Fee will be zero. (e) If the End User disputes the calculation of the Relinquishment Fee notified by Aurizon Network to the End User under this clause 11 (including any assumptions made by Aurizon Network in calculating the Relinquishment Fee), then: (i) the End User may refer the matter to an Expert to determine the Relinquishment Fee in accordance with this clause 11.3; and (ii) in determining the Relinquishment Fee, the Expert must make reasonable assumptions that Aurizon Network was entitled to make in calculating the Relinquishment Fee under this clause 11.3.

Determination of the Relinquishment Fee. (a) The Relinquishment Fee is the amount equivalent to the present value, calculated at the Discount Rate, of the payment of the aggregate TOP Charges (ATPY) for the relevant Train Service Types that would have been payable for the remainder of the Term if the Nominated Access Rights were not relinquished but the Operator End User did not operate the relevant Train Services (NPV Amount) less the amount which is the product of the NPV Amount and the greater of:assuming: (i) the Nominated Access Rights were not relinquished; and (ii) the relevant Train Services were not operated for the End User for a reason other than Aurizon Network Cause, (PV Amount) less the amount which is the product of the PV Amount and the greater of: (iii) (i) 0.5; and and (iv) (ii) the Reduction Factor. (b) If the calculation of the Relinquishment Fee requires information about future events (for example, assumptions about Reference Train Services or Train Services), then Aurizon Network: (i) may make reasonable assumptions about those future events so as to calculate the maximum amount of aggregate TOP Charges (ATPY) for the relevant Train Service Types that could potentially be payable, provided that: (A) if an Access Charge Rate is based on a Reference Tariff, Aurizon Network must not make assumptions about the amount of future Reference Tariffs applicable to that Access Charge Rate; and (B) if an Access Charge Rate has been determined in accordance with the pricing principles in Part 6 of the Access Undertaking, where there is not yet a Reference Tariff for the Access Charge Rate but it is reasonably anticipated by Aurizon Network that a Reference Tariff applicable to that Access Charge Rate will be made or approved, Aurizon Network may make reasonable assumptions about the amount of the anticipated Reference Tariff and the variation that Aurizon Network could make to that Access Charge Rate to apply in the future in accordance with schedule 4 (if applicable) when the anticipated Reference Tariff is made or approved; and (ii) may assume that each of the Access Charge Rates (as at the Relinquishment Date) will escalate, on each 1 July, at the rate of 2.5% per annum for the remainder of the Term.; and (ciii) Where: (i) must notify the Reduction Factor is calculated in accordance with (ii) the Reference Tariff in relation to the Nominated Access Rights includes a System Discount or System Premium, then the Relinquishment Fee must be further adjusted End User of all assumptions made by Aurizon Network to account for any consequential decrease or increase (as applicableunder this clause 11.3(b) in the System Discount or System Premium (as applicable) provided that would otherwise result in Aurizon Network under-recovering or over-recovering (as applicable) amounts from the Operator due to the application of the System Discount or System Premium (as applicable). (d) Despite any other provision nothing in this clause 12.3, if the Relinquishment Fee is calculated 11.3(b) requires Aurizon Network to be an amount that is less than zero, then the Relinquishment Fee will be zerobreach any duty of confidentiality owed to a third party.

Determination of the Relinquishment Fee. (a) The Relinquishment Fee is the amount equivalent to the present value, calculated at the Discount Rate, of the payment of the aggregate TOP Charges (ATPY) for the relevant Train Service Types that would have been payable for the remainder of the Term if assuming: (i) the Nominated Access Rights were not relinquished but the Operator did not operate relinquished; and (ii) the relevant Train Services were not operated for the End User for a reason other than Aurizon Network Cause, (NPV PV Amount) less the amount which is the product of the NPV PV Amount and the greater of: (iiii) 0.5; and (iiiv) the Reduction Factor. (b) If the calculation of the Relinquishment Fee requires information about future events (for example, assumptions about Reference Train Services or Train Services), then Aurizon Network: (i) may make reasonable assumptions about those future events so as to calculate the maximum amount of aggregate TOP Charges (ATPY) for the relevant Train Service Types that could potentially be payable, provided that: (A) if an Access Charge Rate is based on a Reference Tariff, Aurizon Network must not make assumptions about the amount of future Reference Tariffs applicable to that Access Charge Rate; and (B) if an Access Charge Rate has been determined in accordance with the pricing principles in Part 6 of the Access Undertaking, where there is not yet a Reference Tariff for the Access Charge Rate but it is reasonably anticipated by Aurizon Network that a Reference Tariff applicable to that Access Charge Rate will be made or approved, Aurizon Network may make reasonable assumptions about the amount of the anticipated Reference Tariff and the variation that Aurizon Network could make to that Access Charge Rate to apply in the future in accordance with schedule 4 (if applicable) when the anticipated Reference Tariff is made or approved; and; (ii) may assume that each of the Access Charge Rates (as at the Relinquishment Date) will escalate, on each 1 July, at the rate of 2.5% per annum for the remainder of the Term; and (iii) must notify the End User of all assumptions made by Aurizon Network under this clause 9.3(b) provided that nothing in this clause 9.3(b) requires Aurizon Network to breach any duty of confidentiality owed to a third party. (c) Where: (i) the Reduction Factor is calculated in accordance with (ii) the Reference Tariff in relation to the Nominated Access Rights includes a System Discount or System Premium, then the Relinquishment Fee must be further adjusted by Aurizon Network to account for any consequential decrease or increase (as applicable) in the System Discount or System Premium (as applicable) that would otherwise result in Aurizon Network under-recovering or over-recovering (as applicable) amounts from the Operator End User due to the application of the System Discount or System Premium (as applicable). (d) Despite any other provision in this clause 12.39.3, if the Relinquishment Fee is calculated to be an amount that is less than zero, then the Relinquishment Fee will be zero. (e) If the End User disputes the calculation of the Relinquishment Fee notified by Aurizon Network to the End User under this clause 9 (including any assumptions made by Aurizon Network in calculating the Relinquishment Fee), then: (i) the End User may refer the matter to an Expert to determine the Relinquishment Fee in accordance with this clause 9.3; and (ii) in determining the Relinquishment Fee, the Expert must make reasonable assumptions that Aurizon Network was entitled to make in calculating the Relinquishment Fee under this clause 9.3.

Determination of the Relinquishment Fee. (a) The Relinquishment Fee is the amount equivalent to the present value, calculated at the Discount Rate, of the payment of the aggregate TOP Charges (ATPY) for the relevant Train Service Types that would have been payable for the remainder of the Term if assuming: (i) the Nominated Access Rights were not relinquished but the Operator did not operate relinquished; and (ii) the relevant Train Services were not operated for a reason other than Aurizon Network Cause, (NPV PV Amount) less the amount which is the product of the NPV PV Amount and the greater of: (iiii) 0.5; and (iiiv) the Reduction Factor. (b) If the calculation of the Relinquishment Fee requires information about future events (for example, assumptions about Reference Train Services or Train Services), then Aurizon Network: (i) may make reasonable assumptions about those future events so as to calculate the maximum amount of aggregate TOP Charges (ATPY) for the relevant Train Service Types that could potentially be payable, provided that: (A) if an Access Charge Rate is based on a Reference Tariff, Aurizon Network must not make assumptions about the amount of future Reference Tariffs applicable to that Access Charge Rate; and (B) if an Access Charge Rate has been determined in accordance with the pricing principles in Part 6 of the Access Undertaking, where there is not yet a Reference Tariff for the Access Charge Rate but it is reasonably anticipated by Aurizon Network that a Reference Tariff applicable to that Access Charge Rate will be made or approved, Aurizon Network may make reasonable assumptions about the amount of the anticipated Reference Tariff and the variation that Aurizon Network could make to that Access Charge Rate to apply in the future in accordance with schedule 4 (if applicable) when the anticipated Reference Tariff is made or approved; and; (ii) may assume that each of the Access Charge Rates (as at the Relinquishment Date) will escalate, on each 1 July, at the rate of 2.5% per annum for the remainder of the Term; and (iii) must notify the Operator of all assumptions made by Aurizon Network under this clause 13.3(b) provided that nothing in this clause 13.3(b) requires Aurizon Network to breach any duty of confidentiality owed to a third party. (c) Where: (i) the Reduction Factor is calculated in accordance with (ii) the Reference Tariff in relation to the Nominated Access Rights includes a System Discount or System Premium, then the Relinquishment Fee must be further adjusted by Aurizon Network to account for any consequential decrease or increase (as applicable) in the System Discount or System Premium (as applicable) that would otherwise result in Aurizon Network under-recovering or over-recovering (as applicable) amounts from the Operator due to the application of the System Discount or System Premium (as applicable). (d) Despite any other provision in this clause 12.313.3, if the Relinquishment Fee is calculated to be an amount that is less than zero, then the Relinquishment Fee will be zero. (e) If the Operator disputes the calculation of the Relinquishment Fee notified by Aurizon Network to the Operator under this clause 13 (including any assumptions made by Aurizon Network in calculating the Relinquishment Fee), then: (i) the Operator may refer the matter to an Expert to determine the Relinquishment Fee in accordance with this clause 13.3; and (ii) in determining the Relinquishment Fee, the Expert must make reasonable assumptions that Aurizon Network was entitled to make in calculating the Relinquishment Fee under this clause 13.3.

Determination of the Relinquishment Fee. (a) The Relinquishment Fee is the amount equivalent to the present value, calculated at the Discount Rate, of the payment of the aggregate TOP Charges (ATPY) for the relevant Train Service Types that would have been payable for the remainder of the Term if the Nominated Access Rights were not relinquished but the Operator relevant Train Services did not operate the relevant Train Services (NPV Amount) less the amount which is the product of the NPV Amount and the greater of: (i) 0.5; and (ii) the Reduction Factor. (b) If the calculation of the Relinquishment Fee requires information about future events (for example, assumptions about Reference Train Services or Train Services), then Aurizon Network: (i) may make reasonable assumptions about those future events so as to calculate the maximum amount of aggregate TOP Charges (ATPY) for the relevant Train Service Types that could potentially be payable, provided that: (A) if an Access Charge Rate is based on a Reference Tariff, Aurizon Network must not make assumptions about the amount of future Reference Tariffs applicable to that Access Charge Rate; and (B) if an Access Charge Rate has been determined in accordance with the pricing principles in Part 6 of the Access Undertaking, where there is not yet a Reference Tariff for the Access Charge Rate but it is reasonably anticipated by Aurizon Network that a Reference Tariff applicable to that Access Charge Rate will be made or approved, Aurizon Network may make assumptions about the amount of the anticipated Reference Tariff and the variation that Aurizon Network could make to that Access Charge Rate to apply in the future in accordance with schedule 4 (if applicable) when the anticipated Reference Tariff is made or approved; andand Aurizon Network will provide written reasons for the assumptions made under this clause. (ii) may assume that each of the Access Charge Rates (as at the Relinquishment Date) will escalate, on each 1 July, at the rate of 2.5% per annum for the remainder of the Term. (c) Where: (i) the Reduction Factor is calculated in accordance withwith clause 14.1(b); and (ii) the Reference Tariff in relation to the Nominated Access Rights includes a System Discount or System Premium, then the Relinquishment Fee must be further adjusted by Aurizon Network to account for any consequential decrease or increase (as applicable) in the System Discount or System Premium (as applicable) that would otherwise result in Aurizon Network under-recovering or over-recovering (as applicable) amounts from the Operator End User due to the application of the System Discount or System Premium (as applicable). (d) Despite any other provision in this clause 12.3, if the Relinquishment Fee is calculated to be an amount that is less than zero, then the Relinquishment Fee will be zero.

Determination of the Relinquishment Fee. (a) The Relinquishment Fee is the amount equivalent to the present value, calculated at the Discount Rate, of the payment of the aggregate TOP Charges (ATPY) for the relevant Train Service Types that would have been payable for the remainder of the Term if the Nominated Access Rights were not relinquished but the Operator End User did not operate the relevant Train Services (NPV Amount) less the amount which is the product of the NPV Amount and the greater of: (i) 0.5; and (ii) the Reduction Factor. (b) If the calculation of the Relinquishment Fee requires information about future events (for example, assumptions about Reference Train Services or Train Services), then Aurizon Network: (i) may make assumptions about those future events so as to calculate the maximum amount of aggregate TOP Charges (ATPY) for the relevant Train Service Types that could potentially be payable, provided that: (A) if an Access Charge Rate is based on a Reference Tariff, Aurizon Network must not make assumptions about the amount of future Reference Tariffs applicable to that Access Charge Rate; and (B) if an Access Charge Rate has been determined in accordance with the pricing principles in Part 6 of the Access Undertaking, where there is not yet a Reference Tariff for the Access Charge Rate but it is reasonably anticipated by Aurizon Network that a Reference Tariff applicable to that Access Charge Rate will be made or approved, Aurizon Network may make assumptions about the amount of the anticipated Reference Tariff and the variation that Aurizon Network could make to that Access Charge Rate to apply in the future in accordance with schedule 4 (if applicable) when the anticipated Reference Tariff is made or approved; and (ii) may assume that each of the Access Charge Rates (as at the Relinquishment Date) will escalate, on each 1 July, at the rate of 2.5% per annum for the remainder of the Term. (c) Where: (i) the Reduction Factor is calculated in accordance with (ii) the Reference Tariff in relation to the Nominated Access Rights includes a System Discount or System Premium, then the Relinquishment Fee must be further adjusted by Aurizon Network to account for any consequential decrease or increase (as applicable) in the System Discount or System Premium (as applicable) that would otherwise result in Aurizon Network under-recovering or over-recovering (as applicable) amounts from the Operator End User due to the application of the System Discount or System Premium (as applicable). (d) Despite any other provision in this clause 12.310.3, if the Relinquishment Fee is calculated to be an amount that is less than zero, then the Relinquishment Fee will be zero.