Common use of Reconciliation Payment Clause in Contracts

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim period, with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator: (i) a statement of the amount due to or from the Train Operator; and (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation. (b) Within 14 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement. (c) If any dispute is notified under paragraph 3.4(b) above it shall be resolved according to the following procedure: (i) within seven days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith; (ii) if, for any reason, within seven days of the meeting referred to in paragraph 3.4(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above (if not disputed) or 28 days of resolution or determination of any dispute in accordance with paragraph 3.4(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contract.

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such a reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim periodInterim Period, with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a4.1(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator: (i) a statement of the amount due to or from the Train Operator; and (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation. (b) Within 14 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a4.2(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement. (c) If any dispute is notified under paragraph 3.4(b4.2(b) above above, it shall be resolved according to the following procedure: (i) within seven days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith; (ii) if, for any reason, within with seven days of the meeting referred to in paragraph 3.4(c)(i4.2(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a4.2(a) above (if not disputed) or 28 days of resolution or determination of if any dispute in accordance with paragraph 3.4(c4.2(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contract.Contract. Train Service Code Description of Journey Default Train Consist Data 22238108 Train movement(s) between Fort Xxxxxxx and Mallaig Steam locomotive and 7 Mk 1 coaches

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim period, Interim Period with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator: (i) a statement of the amount due to or from the Train Operator; and (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation. (b) Within 14 days after the date upon which Network Rail shall have provided to the to the Train Operator the information referred to in paragraph 3.4(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement. (c) If any dispute is notified under paragraph 3.4(b) above it shall be resolved according to the following procedure: (i) within seven 7 days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith; (ii) if, for any reason, within seven days of the meeting referred to in paragraph 3.4(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above (if not disputed) or 28 days of resolution or determination of any dispute in accordance with paragraph 3.4(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contract." EFFECT OF THIS SUPPLEMENTAL AGREEMENT ON THE CONTRACT The parties agree that the Contract, as amended by this Supplemental Agreement, shall remain in full force and effect in accordance with its terms, and with effect from and including the date hereof and during the period in which the amendments made by this Supplemental Agreement are to have effect, all references in the Contract to the "Contract", "herein", "hereof", "hereunder" and other similar expressions shall, unless the context requires otherwise, be read and construed as a reference to the Contract as amended by this Supplemental Agreement.

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim period, Interim Period with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a4.1(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator: (i) a statement of the amount due to or from the Train Operator; and (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation. (b) Within 14 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a4.2(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement. (c) If any dispute is notified under paragraph 3.4(b4.2(b) above it shall be resolved according to the following procedure: (i) within seven 7 days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith; (ii) if, for any reason, within seven days of the meeting referred to in paragraph 3.4(c)(i4.2(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a4.2(a) above (if not disputed) or 28 days of resolution or determination of any dispute in accordance with paragraph 3.4(c4.2(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contract." EFFECT OF THIS SUPPLEMENTAL AGREEMENT ON THE CONTRACT The parties agree that the Contract, as amended by this Supplemental Agreement, shall remain in full force and effect in accordance with its terms, and with effect from and including the date hereof and during the period in which the amendments made by this Supplemental Agreement are to have effect, all references in the Contract to the "Contract", "herein", "hereof", "hereunder" and other similar expressions shall, unless the context requires otherwise, be read and construed as a reference to the Contract as amended by this Supplemental Agreement.

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim period, with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator: (i) a statement of the amount due to or from the Train Operator; and (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation. (b) Within 14 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement. (c) If any dispute is notified under paragraph 3.4(b) above it shall be resolved according to the following procedure: (i) within seven days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith; (ii) if, for any reason, within seven days of the meeting referred to in paragraph 3.4(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above (if not disputed) or 28 days of resolution or determination of any dispute in accordance with paragraph 3.4(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contract.

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim period, with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator: (i) a statement of the amount due to or from the Train Operator; and (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation. (b) Within 14 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement. (c) If any dispute is notified under paragraph 3.4(b) above it shall be resolved according to the following procedure: (i) within seven days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith; (ii) if, for any reason, within seven days of the meeting referred to in paragraph 3.4(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above (if not disputed) or 28 days of resolution or determination of any dispute in accordance with paragraph 3.4(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contract.

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim period, with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator:Operator:‌ (i) a statement of the amount due to or from the Train Operator; andand‌ (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation.calculation.‌ (b) Within 14 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement.statement.‌ (c) If any dispute is notified under paragraph 3.4(b) above it shall be resolved according to the following procedure:procedure:‌ (i) within seven days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith;faith;‌ (ii) if, for any reason, within seven days of the meeting referred to in paragraph 3.4(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written written‌ summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a) above (if not disputed) or 28 days of resolution or determination of any dispute in accordance with paragraph 3.4(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contract.contract.‌

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such a reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim periodInterim Period, with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a4.1(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator: (i) a statement of the amount due to or from the Train Operator; and (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation. (b) Within 14 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a4.2(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement.notify (c) If any dispute is notified under paragraph 3.4(b4.2(b) above above, it shall be resolved according to the following procedure: (i) within seven days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith; (ii) if, for any reason, within seven days of the meeting referred to in paragraph 3.4(c)(i4.2(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a4.2(a) above (if not disputed) or 28 days of resolution or determination of any dispute in accordance with paragraph 3.4(c4.2(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contractContract.

Reconciliation Payment. (a) Within 28 days after the end of the Interim Period, Network Rail shall calculate whether a reconciliation payment is due to or from the Train Operator. In order to calculate such reconciliation payment, Network Rail shall compare (i) the sums paid by the Train Operator during the interim period, Interim Period with (ii) the sums which would have been payable if the amendments required by either paragraphs 3.3(a4.1(a) or (b) above had taken effect on the date(s) stipulated in the Proposed Review Notice, and shall provide to the Train Operator: (i) a statement of the amount due to or from the Train Operator; and (ii) such background data and workings as may reasonably be required for a proper understanding of the calculation. (b) Within 14 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a4.2(a) above, the Train Operator shall notify Network Rail of any aspects of the statement which it disputes, giving reasons for any dispute. Save to the extent that disputes are so notified, the Train Operator shall be deemed to have agreed the contents of the statement. (c) If any dispute is notified under paragraph 3.4(b4.2(b) above it shall be resolved according to the following procedure: (i) within seven 7 days of service of the relevant notice, the parties shall meet to discuss the disputed aspects with a view to resolving all disputes in good faith; (ii) if, for any reason, within seven days of the meeting referred to in paragraph 3.4(c)(i4.2(c)(i) above, the parties are still unable to agree any disputed aspects, each party shall promptly and in any event within seven days prepare a written summary of the disputed aspects and the reasons for each such dispute and submit such summaries to the senior officer of each party; (iii) within 28 days of the first meeting of the parties, the senior officers of the parties shall meet with a view to resolving all disputes; and (iv) if no resolution results before the expiry of 14 days following that meeting, then either party may refer the matter for resolution in accordance with the ADRR. (d) Within 28 days after the date upon which Network Rail shall have provided to the Train Operator the information referred to in paragraph 3.4(a4.2(a) above (if not disputed) or 28 days of resolution or determination of any dispute in accordance with paragraph 3.4(c4.2(c) above, any amount due shall be invoiced (or presented in a credit note, as the case may be) for payment, and payable, as provided under this contract." EFFECT OF THIS SUPPLEMENTAL AGREEMENT ON THE CONTRACT The parties agree that the Contract, as amended by this Supplemental Agreement, shall remain in full force and effect in accordance with its terms, and with effect from and including the date hereof and during the period in which the amendments made by this Supplemental Agreement are to have effect, all references in the Contract to the "Contract", "herein", "hereof", "hereunder" and other similar expressions shall, unless the context requires otherwise, be read and construed as a reference to the Contract as amended by this Supplemental Agreement.