Common use of The Track Charge Clause in Contracts

The Track Charge. With effect from the Commencement Date, during each relevant year (and, in respect of Ct and OMCt, prorationed for each day of any period of this Agreement which comprises less than a full relevant year), Network Rail shall make and Nexus shall pay track charges in 13 equal instalments in accordance with the following formula: Tt = Ct + OMCt + ECt where:- Tt means Track Charges in relevant year t; Ct means an amount in respect of Capital Investment Charge in relevant year t derived from the formula in paragraph 2;