Common use of Variable Usage Charge Clause in Contracts

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 ●𝑈𝑉𝑖𝑡 where: Vit means an amount for vehicle type i for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: 𝑉 = 𝑉 ● (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑖𝑡 𝑖𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 means the CPI published or determined with respect to the month of November in Relevant Year t-1; and CPIt-2 means the CPI published or determined with respect to the month of November in Relevant Year t-2, but so that in relation to the Relevant Year commencing on 1 April 2019, Vit shall have, in respect of vehicle type i, the corresponding variable usage charge rate per Vehicle Mile for that vehicle type i set out in the Track Usage Price List, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year, Vit-1 shall have the same value; UVit means the actual volume of usage (in Vehicle Miles) in Relevant Year t of vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant categories of vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 ●𝑈𝑉𝑖𝑡 where: Vit means an amount for vehicle type i for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following fowhere: 𝑉𝑖𝑡 rmul𝑉𝑖𝑡−1 a: 𝑉 = 𝑉 ● (1 + (𝐶𝑃𝐼𝑡−1−�)�𝑃𝐼𝑡−2) 𝑖𝑡 𝑖𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 means the CPI published or determined with respect to the month of November in Relevant Year t-1; and CPIt-2 means the CPI published or determined with respect to the month of November in Relevant Year t-2, but so that in relation to the Relevant Year commencing on 1 April 2019, Vit shall have, in respect of vehicle type i, the corresponding variable usage charge rate per Vehicle Mile for that vehicle type i set out in the Track Usage Price List, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year, Vit-1 shall have the same value; UVit means the actual volume of usage (in Vehicle Miles) in Relevant Year t of vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant categories of vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 ●𝑈𝑉𝑖𝑡 where: Vit means an amount for vehicle type i for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: 𝑉 = 𝑉 ● (1 + (𝐶𝑃where: 𝐼𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑖𝑡 𝑖𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 means the CPI published or determined with respect to the month of November in Relevant Year t-1; and CPIt-2 means the CPI published or determined with respect to the month of November in Relevant Year t-2, but so that in relation to the Relevant Year commencing on 1 April 2019, Vit shall have, in respect of vehicle type i, the corresponding variable usage charge rate per Vehicle Mile for that vehicle type i set out in the Track Usage Price List, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year, Vit-1 shall have the same value; UVit means the actual volume of usage (in Vehicle Miles) in Relevant Year t of vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant categories of vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 ●𝑈𝑉𝑖𝑡 where: Vit means an amount for vehicle type i for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following fo𝑉𝑖𝑡 rmul𝑉𝑖𝑡−1 a: 𝑉 = 𝑉 ● (1 + (𝐶𝑃𝐼𝑡−1−�)�𝑃𝐼𝑡−2) 𝑖𝑡 𝑖𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 means the CPI published or determined with respect to the month of November in Relevant Year t-1; and CPIt-2 means the CPI published or determined with respect to the month of November in Relevant Year t-2, but so that in relation to the Relevant Year commencing on 1 April 2019, Vit shall have, in respect of vehicle type i, the corresponding variable usage charge rate per Vehicle Mile for that vehicle type i set out in the Track Usage Price List, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year, Vit-1 shall have the same value; UVit means the actual volume of usage (in Vehicle Miles) in Relevant Year t of vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant categories of vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 ●𝑈𝑉𝑖𝑡 where: Vit means an amount for vehicle type i for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following fowhere: 𝑉𝑖𝑡 rmul𝑉𝑖𝑡−1 a: 𝑉 = 𝑉 ● (1 + (𝐶𝑃𝐼𝑡−1−�)�𝑃𝐼𝑡−2) 𝑖𝑡 𝑖𝑡−1 ) 𝐶𝑃has 𝐼𝑡−2 where: CPIt-1 means the CPI published or determined with respecmeaning set out t to the month of Noparagraph 2.2 abovevember in Relevant Year t-1; and CPIt-2 means the CPI published or determined with respect to the month of November in Relevant Year t-2, but so that in relation to the Relevant Year201924 commeVit-1 ncing on 1 April 2019, Vit shall have, in respect of vehicle type i, the corresponding variable usage charge rate per Vehicle Mile for that vehicle type i set out in the Track Usage Price List, multiplied by the Initial Indexation Factor; and in relation to the nexYear t following Relevant Year, Vit-1 shall have the same value; UVit means the actual volume of usage (in Vehicle Miles) in Relevant Year t of vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant categories of vehicle types i.