Common use of Operational and Maintenance Charge - OMCt Clause in Contracts

Operational and Maintenance Charge - OMCt. For the purposes of paragraph 1, the term OMCt means an amount in respect of the Operational and Maintenance Charge in relevant year t and which is derived from the following formula: OMCt = OMCt-1 [1 + RPIt-1 - X] 100 where RPIt-1 means the percentage change (whether of a positive or negative value) in the Retail Price Index published or determined with respect to November in the relevant year t-1 and the index published or determined with respect to November in relevant year t-2; and X in relation to the period prior to 1 April 2001 has the value 2.0, and in relation to any subsequent period has the value determined from time to time by the Regulator as being applicable to access contracts for passenger railway services throughout the industry, but so that in relation to the relevant year commencing on 1 April 1998, OMCt would have had a value of £625,000 and in relation to the next following year OMCt-1 shall have the same value.

Operational and Maintenance Charge - OMCt. For the purposes of paragraph 1, the term OMCt means an amount in respect of the Operational and Maintenance Charge in relevant year t and which is derived from the following formula: OMCt = OMCt-1 [1 + RPIt-1 - X] 100 where RPIt-1 means the percentage change (whether of a positive or negative value) in the Retail Price Index published or determined with respect to November in the relevant year t-1 and the index published or determined with respect to November in relevant year t-2; and X in relation to the period prior to 1 April 2001 has the value 2.0, and in relation to any subsequent period has the value determined from time to time by the Regulator as being applicable to access contracts for passenger railway services throughout the industry, but so that in relation to the relevant year commencing on 1 April 1998, OMCt would have had a value of £625,000 £ and in relation to the next following year OMCt-1 shall have the same value.