Network Rail Rebate. 7.1 For the purpose of paragraph 1, the Network Rail Rebate in respect of any Relevant Year t (Wt) is an amount (which shall not be a negative value) by way of a return of Track Charges paid in accordance with paragraph 7.5, derived from the following formula: = ● where: RAt means the Rebatable Amount declared by Network Rail in relation to Relevant Year t under paragraph 7.2; Ft has the meaning ascribed to it in paragraph 1 for Relevant Year t; and AFt means the Aggregate Fixed Charge in Relevant Year t.
Network Rail Rebate. 7.1 For the purpose of paragraph 1, the Network Rail Rebate in respect of any Relevant Year t (Wt) is an amount (which shall not be a negative value) by way of a return of Track Charges paid in Relevant Year t-1, derived from the following formula: where: Wt = RAt Ft AFt RAt means the Rebatable Amount declared by Network Rail in relation to Relevant Year t-1 under paragraph 7.2; Ft has the meaning ascribed to it in paragraph 1 as if references to “Relevant Year t” in the definition of “Ft” in paragraph 1 were references to “Relevant Year t-1”; and AFt means the Aggregate Fixed Charge in Relevant Year t-1, calculated as if references to “Relevant Year t” in the definition of “Aggregate Fixed Charge” and in the definition of “Ft” in paragraph 1 were references to “Relevant Year t-1”.
Network Rail Rebate. For the purpose of paragraph 1, the Network Rail Rebate in respect of any Relevant Year t (Wt) is an amount (which shall not be a negative value) by way of a return of Track Charges paid in accordance with paragraph 7.5, derived from the following formula: where: RAt means the Rebatable Amount declared by Network Rail in relation to Relevant Year t under paragraph 7.2; Ft has the meaning ascribed to it in paragraph 1 for Relevant Year t; and AFt means the Aggregate Fixed Charge in Relevant Year t. The Rebatable Amount shall be the amount, if any: which represents such proportion of Network Rail’s total income for Relevant Year t as it reasonably considers that it does not require in order to discharge its obligations under its network licence and any contracts to which it is a party; which Network Rail, acting reasonably, considers it appropriate to rebate as an amount representing a return of Track Charges payable by persons who provide services for the carriage of passengers by railway under the relevant access agreements to which they are parties; and which Network Rail notifies as such to XXX within nine months after the end of each Relevant Year t. No amount of Track Charges shall be rebated under this paragraph 7 unless XXX has consented to such rebate. Without prejudice to the generality of clause 16.3.1, any payment of a Network Rail Rebate (a "rebate payment") shall be made on the basis that it is to be treated as exclusive of VAT, so that where and to the extent that the rebate payment is consideration for a supply for VAT purposes Network Rail shall in addition pay to the Train Operator an amount equal to the amount of VAT due in respect of that rebate payment and either: the Train Operator shall issue a VAT invoice to Network Rail in respect of the relevant amount; or if the parties so agree and have entered into an applicable self-billing agreement (within the meaning of regulation 13(3A) of the Value Added Tax Regulations 1995 (the "VAT Regulations")) that continues in force then Network Rail shall produce for itself a self-billed invoice (within the meaning of regulation 13(3) of the VAT Regulations) in respect of the relevant amount. If, pursuant to paragraph 7.1, the Train Operator is entitled to payment of a Network Rail Rebate in respect of Relevant Year t, then such payment shall be made by Network Rail to the Train Operator as a lump sum payment within 28 days after the end of the Period in which XXX gives its consent under paragraph 7...
