Common use of Selection by the Train Operator of the Incident Cap and Exposure Level Clause in Contracts

Selection by the Train Operator of the Incident Cap and Exposure Level. 11.1.1 Subject to paragraph 11.1.3, on or before the date on which this paragraph 11.1 takes effect, the Train Operator shall notify the CVL IM in writing of the level of Incident Cap and the level of exposure above the Incident Cap ("Exposure Level") it wishes to apply, being either no exposure above the Incident Cap, as described in paragraph 4.1.1(a) ("Zero Exposure"), or 30% exposure above the Incident Cap, as described in paragraph 4.1.1(b) ("30% Exposure") (such notification being the "Initial Incident Cap Notice"). The Incident Cap Access Charge Supplement Rate applicable to the Train Operator under this contract shall be the rate set out in that part of column B (if the Train Operator selects Zero Exposure) or column C (if the Train Operator selects 30% Exposure) adjacent to the level of Incident Cap selected by the Train Operator in the Initial Incident Cap Notice until it is replaced by a different level of Incident Cap and Exposure Level selected by the Train Operator in an Incident Cap Notice issued pursuant to paragraph 11.1.2.