Common use of VUC Default Charge Clause in Contracts

VUC Default Charge. For the purposes of paragraph 1, the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷𝑡 = ∑𝐷𝑛𝑡●𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑛𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 and CPIt-2 have the meanings set out in paragraph 3.1 of this Part 2, but so that in relation to the Relevant Year commencing on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.

VUC Default Charge. For the purposes of paragraph 1, the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷�� = ∑𝐷𝑛𝑡●∑● 𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃( −1−−2𝐼𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑛𝑡−1 ) −2 −1 ) 𝐶has the meaning set out in paragraph Error! Reference source not found. above; 𝑃𝐼𝑡−2 where: has CPIt-1 and CPmeaning It-2 have the meanings set out in paragaboveraph 3.1 of this Part 2, but so that in relation to the Relevant Year commencing on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.

VUC Default Charge. For the purposes of paragraph 1, the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷𝑡 = ∑�∑𝐷𝑛𝑡 �𝑛𝑡●𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃𝐼where: 𝑛𝑡 𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑛𝑡−1 ) 𝐶has the meaning set out in paragraph 2.2 above; 𝑃𝐼𝑡−2 where: has CPIt-1 and CPmeaning It-2 have the meanings set out in paragaboveraph 3.1 of this Part 2, but so that in relation to the Relevant Year commencing on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.

VUC Default Charge. For the purposes of paragraph 1, the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷𝑡 = ∑�∑𝐷𝑛𝑡 �𝑛𝑡●𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃𝐼where: 𝑛𝑡 𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑛𝑡−1 ) 𝐶has the meaning set out in paragraph 2.2 above; 𝑃𝐼𝑡−2 where: has CPIt-1 and CPmeaning It-2 have the meanings set out in paragaboveraph 3.1 of this Part 2, but so that in relation to the Relevant Year com202419mencinDnt-1 g on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.

VUC Default Charge. For the purposes of paragraph 1, the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷�� = ∑𝐷𝑛𝑡●∑ ● 𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following = for�mula: ● (1 + (𝐶𝑃−1−−2𝐼𝑡−1−𝐶𝑃𝐼𝑡−−1 � −2 2) 𝑛𝑡−1 ) 𝐶has the meaning set out in paragraph Error! Reference source not found. above; 𝑃𝐼𝑡−2 where: has CPIt-1 and CPmeaning It-2 have the meanings set out in paragaboveraph 3.1 of this Part 2, but so that in relation to the Relevant Year commencing on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.

VUC Default Charge. For the purposes of paragraph 1, the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷𝑡 = ∑�∑𝐷𝑛𝑡 �𝑛𝑡●𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃𝐼where: 𝑛𝑡 𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑛𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 and CPIt-2 have the meanings set out in paragraph 3.1 of this Part 2, but so that in relation to the Relevant Year commencing on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.

VUC Default Charge. For the purposes of paragraph 1Error! Reference source not found., the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷𝑡 = ∑𝐷𝑛𝑡●𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃𝐼where: 𝑛𝑡 𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑛𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 and CPIt-2 have the meanings set out in paragraph 3.1 of this Part 2, but so that in relation to the Relevant Year commencing on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.

VUC Default Charge. For the purposes of paragraph 1, the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷𝑡 = ∑𝐷𝑛𝑡●𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃𝐼where: 𝑛𝑡 𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑛𝑡−1 ) 𝐶has the meaning set out in paragraph Error! Reference source not found. above; 𝑃𝐼𝑡−2 where: has CPIt-1 and CPmeaning It-2 have the meanings set out in paragaboveraph 3.1 of this Part 2, but so that in relation to the Relevant Year commencing on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.

VUC Default Charge. For the purposes of paragraph 1, the term Dt means the amount of VUC Default Charge payable in respect of New Specified Equipment in Relevant Year t which is derived from the following formula: 𝐷𝑡 = ∑�∑𝐷𝑛𝑡 �𝑛𝑡●𝑈𝐷𝑛𝑡 where: Dnt means the VUC Default Rate for that New Specified Equipment for Relevant Year t, expressed in xxxxx per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑛𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 and CPIt-2 have the meanings set out in paragraph 3.1 of this Part 2, but so that in relation to the Relevant Year commencing on 1 April 2019, Dnt shall have, in respect of New Specified Equipment, the corresponding VUC Default Rate for that New Specified Equipment, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Dnt-1 shall have the same value; UDnt means the actual volume of usage of New Specified Equipment in Vehicle Miles during the VUC Default Period in Relevant Year t operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant New Specified Equipment.