Formula Year t definition

Formula Year t means the Formula Year in which a value for the term MOD, calculated through a particular Annual Iteration Process, is used in the formula for the licensee’s Base NTS Transportation Owner Revenue and references to Formula Year t-1 etc should be construed accordingly.
Sample 1Sample 2Sample 3
Formula Year t means the Formula Year in which the value for the term [MOD] calculated through the Annual Iteration Process, is used in the formula set out in Part [•] of Price Control Condition [•] and references to Formula Years t-1 and t-2 are to be construed accordingly.
Sample 1
Formula Year t means the Formula Year in which the value for the term MODt calculated through a particular Annual Iteration Process, is used in the
Sample 1

Examples of Formula Year t in a sentence

  • The Designated Parameters and the Determination Values applying in respect of each Formula Year t will be established in accordance with the process set out below (a “Review”).

  • The NTS Entry Transmission Services Rebate Charge shall be accounted for as a charge relating to and payable in respect of Formula Year t (and the amounts payable by National Grid NTS in respect of such charge shall be deducted in determining the value of Transmission Services Entry Revenue in respect of such Formula Year).

  • Revised values for Formula Year t will flow into calculations of the return on RAV.

  • For the purposes of Condition 2.3.8 the following Best Available Values shall be submitted by the Licensee, in respect of each Formula Year t from t=a submitted at the preceding Review up to and including t=q for the current Review.

  • There are no Liens on any of the assets of the Company that arose in connection with any failure (or alleged failure) to pay any Tax.

  • Incremental changes to recalculated base revenue figures for years earlier than Formula Year t will, subject to a time value of money adjustment, be brought forward and reflected in the calculation of the term MOD to be directed for Formula Year t.

  • As a consequence of the Annual Iteration Process, the value of the term MODt as calculated for Formula Year t for the purposes of Part D of Special Condition 2A (Restriction of NTS Transportation Owner Revenue) will result in an adjustment of the Licensee’s Base NTS Transportation Owner Activity Revenue in a manner that is consistent with the policy set out in the GT1 Price Control Financial Methodologies contained within the GT1 Price Control Financial Handbook.

  • The output value of MODt for the licensee will reflect the difference between the recalculated base revenue figure for the licensee for Formula Year t (in the PCFM) and the Opening Base Revenue Allowance (PU term) set down in the licence.

  • Incremental changes to recalculated base revenue figures for years earlier than Formula Year t will, subject to a Time Value of Money Adjustment, be brought forward and reflected in the calculation of the term MOD to be directed for Formula Year t.

  • As indicated above, the MOD term is an amount added to the Opening Base Revenue Allowance figure for each Formula Year t during the Price Control Period to derive a recalculated base revenue value6.


More Definitions of Formula Year t

Formula Year t means the formula year in which a value for the term TOMOD, or as applicable SOMOD, calculated through a particular Annual Iteration Process, is used in the formula for the licensee‟s Base NTS TO Revenue13/ internal operating cost revenue.
Sample 1
Formula Year t means the Formula Year in which the value for the term MOD, calculated through a particular Annual Iteration Process, is used in the formula set out in Part C of [xxGDC 20] of Special Condition [x] (Restriction of revenue in respect of the Distribution Network Transportation Activity) and references to Formula Year t-1 are to be construed accordingly.
Sample 1

Related to Formula Year t

  • Relevant Year t means the Financial Year for the purposes of which any calculation falls to be made; "Relevant Year t-1" means the Financial Year preceding Relevant Year t, and similar expressions shall be construed accordingly;

  • Average Monthly Compensation means the quotient determined by dividing the sum of the Employee’s then current Base Salary (as defined in Section 4.1 hereof) and the greater of the most recently paid Incentive Compensation (as defined in Section 4.2 hereof) or the average of Incentive Compensation paid over the three most recent years by twelve.

  • Final Average Compensation means the aggregate amount of a member's compensation earned within the averaging period in which the aggregate amount of compensation was highest divided by the member's number of years, including any fraction of a year, of credited service during the averaging period. The averaging period shall be 36 consecutive calendar months if the member contributes to the member investment plan except for a member who contributes to the member investment plan and first became a member on or after July 1, 2010; otherwise, the averaging period shall be 60 consecutive calendar months. A member who contributes to the member investment plan and first became a member on or after July 1, 2010 shall also have an averaging period of 60 consecutive calendar months. If the member has less than 1 year of credited service in the averaging period, the number of consecutive calendar months in the averaging period shall be increased to the lowest number of consecutive calendar months that contains 1 year of credited service.

  • Base Year Value means the assessed value of eligible property January 1 preceding the execution of the agreement plus the agreed upon value of eligible property improvements made after January 1 but before the execution of the agreement.

  • Program Year means the annual period beginning January 1 and ending December 31.

  • Formula means the appropriate secondary road fund distribution formula or farm-to-market road fund distribution formula as defined in subrules 102.2(2) and 102.2(3).

  • Class Year Study means a Class Year Interconnection Facilities Study as that term is defined in OATT Section 25 (OATT Attachment S).

  • One-hundred-year flood means a flood having a one per cent chance of being equaled or exceeded in any given year.

  • SONIA Compounded IndexStart means, with respect to an Interest Accrual Period, the SONIA Compounded Index determined in relation to the day falling the Relevant Number of London Banking Days prior to the first day of such Interest Accrual Period; and

  • SOFR Compounded Index means the Compounded Daily SOFR rate as published at 15:00 (New York time) by Federal Reserve Bank of New York (or a successor administrator of SOFR) on the website of the Federal Reserve Bank of New York, or any successor source; and

  • Sales Year means the calendar year during which the Company sold Cigarettes in a Beneficiary State requiring the deposit of QEF Principal.

  • SONIA Compounded IndexEnd means the SONIA Compounded Index Value on the date falling “p” London Business Days prior to (i) in respect of an Interest Accrual Period, the Interest Payment Date for such Interest Accrual Period, or (ii) if the Notes become due and payable prior to the end of an Interest Accrual Period, the date on which the Notes become so due and payable; and

  • Determination Year means the Plan Year for which testing is being performed, and the “look-back year” means the immediately preceding twelve (12) month period.

  • Annual Earnings means your gross annual income from your Employer, not including shift differential, in effect just prior to the date of loss. It includes your total income before taxes. It is prior to any deductions made for pre-tax contributions to a qualified deferred compensation plan, Section 125 plan or flexible spending account. It does not include income received from commissions, bonuses, overtime pay or any other extra compensation or income received from sources other than your Employer.

  • Three-Year Period means, with respect to a Restatement, the three completed fiscal years immediately preceding the date that the Board, a committee of the Board, or the officer or officers of the Company authorized to take such action if Board action is not required, concludes, or reasonably should have concluded, that the Company is required to prepare such Restatement, or, if earlier, the date on which a court, regulator or other legally authorized body directs the Company to prepare such Restatement. The “Three-Year Period” also includes any transition period (that results from a change in the Company’s fiscal year) within or immediately following the three completed fiscal years identified in the preceding sentence. However, a transition period between the last day of the Company’s previous fiscal year end and the first day of its new fiscal year that comprises a period of nine to 12 months shall be deemed a completed fiscal year.