REBS Outperformance definition
REBS Outperformance means the situation where ORR’s annual efficiency and finance assessment of Network Rail in respect of the REBS Route in Relevant Year t has identified, in accordance with the methodology and principles set out in [insert reference] of the 2013 Final Determinations, that Network Rail’s performance has exceeded the performance set in the Route Baseline;
REBS Outperformance means the situation where ▇▇▇’▇ annual efficiency and finance assessment of Network Rail in respect of the REBS Route in Relevant Year t has identified, in accordance with the methodology and principles set out in Chapter 19 of the 2013 Final Determination, that Network Rail’s performance has exceeded the performance set in the Route Baseline as indexed in accordance with paragraph 4.10;
REBS Outperformance means the situation where ORR’s annual efficiency and finance assessment of Network Rail in respect of the REBS Route in Relevant Year t has identified, in accordance with the methodology and principles set out in [insert reference] of the 2013 Final Determinations, that Network Rail’s performance has exceeded the performance set in the Route Baseline; “REBS Route” means a route specified in the table in Appendix 7A for the purposes of the Route-Level Efficiency Benefit Share Mechanism; “REBS Underperformance” means the situation where ORR’s annual efficiency and finance assessment of Network Rail in respect of the REBS Route in Relevant Year t has identified, in accordance with the methodology and principles set out in [insert reference] of the 2013 Final Determinations, that Network Rail’s performance has not achieved the performance set in the Route Baseline; “Relevant Year” means a year commencing at 0000 hours on 1 April and ending at 2359 hours on the following 31 March; “Relevant Year t” means the Relevant Year for the purposes of which any calculation falls to be made; “Relevant Year t-1” means the Relevant Year preceding Relevant Year t; and similar expressions shall be construed accordingly; "Route Baseline" means the baseline value in respect of a REBS Route in Relevant Year t that is published by Network Rail in its Delivery Plan, as adjusted for inflation in accordance with the methodology and principles set out in [insert reference] of the 2013 Final Determinations, and that ORR will use in its annual efficiency and finance assessment of Network Rail for the purposes of the Route Level Efficiency Benefit Share Mechanism; “Route-Level Efficiency Benefit Share” has the meaning ascribed to it in paragraph 1.1 of Part 3; “Route Level Efficiency Benefit Share Mechanism” means the provisions for the calculation and payment of the Route Level Efficiency Benefit Share in respect of one or more REBS Routes as described in paragraph 1.3 of Part 3.
More Definitions of REBS Outperformance
REBS Outperformance means the situation where ORR’s annual efficiency and finance assessment of Network Rail in respect of the REBS Route in Relevant Year t has identified, in accordance with the methodology and principles set out in [insert reference] of the 2013
REBS Outperformance means the situation where ORR’s annual efficiency and