Train Operator Annual Cap definition

Train Operator Annual Cap means the Train Operator Annual Cap specified in Appendix 8A and in respect of the first and last Financial Year means the Train Operator Annual Cap specified in Appendix 8A multiplied by the Adjustment Fraction, as adjusted in accordance with paragraphs 7 and 8.2 of this Schedule 8, expressed in pounds sterling and rounded to zero decimal places;
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Examples of Train Operator Annual Cap in a sentence

  • Promptly following any adjustment to the Network Rail Annual Cap and/or the Train Operator Annual Cap pursuant to this paragraph 8.2, and in order to give effect to that adjustment, Network Rail shall issue to the Train Operator a statement showing the necessary adjustments to: any invoices and credit notes already issued; and any payments already made in respect of Performance Sums, in each case relating to the Periods in Financial Year t+1.

  • If, within 56 days of receipt by the Train Operator of the information and notice from the CVL IM required to be provided pursuant to paragraph 8.2.2, the Train Operator and the CVL IM reach agreement as to any adjustment to the CVL IM Annual Cap and/or the Train Operator Annual Cap, the parties shall notify ▇▇▇ and shall provide ▇▇▇ with such information and evidence as ▇▇▇ shall require to determine whether or not to approve the proposed adjustment.

  • Promptly following any adjustment to the CVL IM Annual Cap and/or the Train Operator Annual Cap pursuant to this paragraph 8.2, and in order to give effect to that adjustment, the CVL IM shall issue to the Train Operator a statement showing the necessary adjustments to: any invoices and credit notes already issued; and any payments already made in respect of Performance Sums, in each case relating to the Periods in Financial Year t+1.

  • Any adjustment to the Network Rail Annual Cap and/or the Train Operator Annual Cap shall take effect only when it has been approved by ▇▇▇ and, unless otherwise specified by ▇▇▇, any such adjustment shall take effect from 1 April in Financial Year t.

  • Any adjustment to the CVL IM Annual Cap and/or the Train Operator Annual Cap shall take effect only when it has been approved by ▇▇▇ and, unless otherwise specified by ▇▇▇, any such adjustment shall take effect from 1 April in Financial Year t.

  • If, within 56 days of receipt by the Train Operator of the information and notice from Network Rail required to be provided pursuant to paragraph 8.2.2, the Train Operator and Network Rail reach agreement as to any adjustment to the Network Rail Annual Cap and/or the Train Operator Annual Cap, the parties shall notify ▇▇▇ and shall provide ▇▇▇ with such information and evidence as ▇▇▇ shall require to determine whether or not to approve the proposed adjustment.