Common use of Review of Charges Clause in Contracts

Review of Charges. 3.2.1 The Base Annual Service Charge will be reviewed on each Review Date. The new Base Annual Service Charge to apply after each Review Date will be the amount agreed by the Parties and failing such agreement within 30 days after the Review Date, either Party may give notice of its requirement to refer the Base Annual Service Charge most recently proposed by QR Network to an expert for review in accordance with Clause 17 of the Agreement. In making his determination with respect to the amount of the new Base Annual Service Charge, the Expert will have regards to the provisions of this Agreement and the reasonable costs to QR Network of meeting it obligations under the Agreement. 3.2.2 Unless and until agreement is reached or a determination is made pursuant to Clause 17 of the Agreement, the Base Annual Service Charge prevailing as at the Review Date will continue to be utilised to determine the Annual Service Charge payable by the Owner. If any change in Base Annual Service Charge is agreed or determined then the amended Base Annual Service Charge will apply from the relevant Review Date and the Parties will account to one another accordingly.

Review of Charges. 3.2.1 The Base Annual Service Charge will be reviewed on each Review Date. The new Base Annual Service Charge to apply after each Review Date will be the amount agreed by the Parties and failing such agreement within 30 days after the Review Date, either Party may give notice of its requirement to refer the Base Annual Service Charge most recently proposed by QR Network to an expert for review in accordance with Clause clause 17 of the Agreement. In making his determination with respect to the amount of the new Base Annual Service Charge, the Expert will have regards to the provisions of this Agreement and the reasonable costs to QR Network of meeting it obligations under the Agreement. 3.2.2 Unless and until agreement is reached or a determination is made pursuant to Clause clause 17 of the Agreement, the Base Annual Service Charge prevailing as at the Review Date will continue to be utilised to determine the Annual Service Charge payable by the Owner. If any change in Base Annual Service Charge is agreed or determined then the amended Base Annual Service Charge will apply from the relevant Review Date and the Parties will account to one another accordingly.