Common use of Principal formula Clause in Contracts

Principal formula. For each Relevant Year, Network Rail shall levy and the Train Operator shall pay Track Charges in accordance with the following formula: 𝑇𝑡 = 𝑉𝑡 + 𝑆𝑡 + 𝐸𝑡 + 𝐸𝐴𝑉𝑡 + 𝐶𝑡 where: Tt means Track Charges for the Relevant Year t; Vt means an amount in respect of the Variable Usage Charge for the Relevant Year t which is derived from the formula in paragraph 3.1; St means an amount in respect of the Slot Charge for the Relevant Year t which is derived from the formula in paragraph 4.1; Et means an amount in respect of the Traction Electricity Charge for the Relevant Year t which is derived from the formula in paragraph 6.1; EAVt means an amount in respect of the Electrification Asset Usage Charge for Relevant Year t which is derived from the formula in paragraph 7.1; and Ct means an amount in respect of the Cancellation Charge (whether of a positive or negative value) for the Relevant Year t calculated in accordance with the provisions in paragraph 5.1.