SPP Threshold means either the RfL(I) SPP Threshold or the Train Operator SPP Threshold (each as defined in paragraph 18 of Schedule 8);
SPP Threshold has the meaning ascribed to it in paragraph 18 of Schedule 8;
SPP Threshold means the value specified in respect of the end of the relevant Calculation Term in Appendix 3 (as indexed in accordance with paragraph 19).
Examples of SPP Threshold in a sentence
Network Rail shall indemnify the Train Operator against all Relevant Losses in accordance with this paragraph 18 if, and to the extent that, the Average Periodic Liability shows Network Rail has exceeded (that is, equalled or been worse than) the relevant SPP Threshold.
More Definitions of SPP Threshold
SPP Threshold means the value specified in respect of the end of the relevant Calculation Term in Appendix 4 (as indexed in accordance with paragraph 13). 12.2 Indemnity Network Rail shall indemnify the Train Operator against all Relevant Losses in accordance with this paragraph 12 if, and to the extent that, the Average Periodic Liability shows Network Rail has exceeded (that is, equalled or been worse than) the relevant SPP Threshold. For the avoidance of doubt, Relevant Losses for the purpose of providing compensation for sustained poor performance under this paragraph are to be measured in comparison to the position the Train Operator would have been in had Network Rail met the Network Rail Benchmark. 12.3 Determination of Relevant LossesSubject to paragraph 12.4, the liability of Network Rail under paragraph 12.2 for sustained poor performance (SPPL) shall be determined in accordance with the following formula: SPPL = RL - PS where: RL means the Train Operator's Relevant Losses arising as a direct result of Minutes Delay during the Calculation Term in each case insofar as these do not arise as a result of an incident for which the Train Operator is allocated responsibility pursuant to paragraph 3.1; and PS means the sum of all values of Minutes Delay Payments calculated in accordance with paragraph 6.2(i) in each case subject to the applicable Network Rail Cap in respect of the relevant Calculation Term. 12.4 Restrictions on claims by Train Operator The Train Operator shall not be entitled to make a claim for Relevant Losses pursuant to this paragraph 12: