Cancellations Performance Sum Sample Clauses

Cancellations Performance Sum. Where for any Performance Calculation Year, the Franchisee's performance in relation to the Annual Cancellations Benchmark as calculated pursuant to paragraph 2.3 (that is, the value of ACTUALC) is: (a) less than (that is, better than) the Annual Target Performance Level for that Annual Cancellations Benchmark and is less than (that is, better than) or equal to the Annual Cap Performance Level for such Annual Cancellations Benchmark, in each case for that Performance Calculation Year, then the Cancellations Performance Sum in respect of that Performance Calculation Year shall subject to paragraph 3.5 be payable by the Secretary of State to the Franchisee and shall be an amount calculated as follows: (TARGETC – CAPC) x PBPC TARGETC is the Annual Target Performance Level relating to that Annual Cancellations Benchmark for that Performance Calculation Year; CAPC is the Annual Cap Performance Level relating to that Annual Cancellations Benchmark for that Performance Calculation Year; PBPC is, in respect of any Performance Calculation Year, an amount calculated as follows: PBPC x RPI where: PBPC is the amount that is equal to the amount specified in the first row of the table in Part 3 (Annual Cancellations Payment Table) of Appendix 1 (Cancellations Benchmarks and Annual Cancellations Benchmarks) to this Schedule 7.1; RPI is the quotient of the Retail Prices Index for the January which immediately precedes the commencement of the relevant Performance Calculation Year divided by the Retail Prices Index for January 2014 (provided that for the first Performance Calculation Year RPI shall be one); (b) less than (that is, better than) the Annual Target Performance Level for that Annual Cancellations Benchmark but more than (that is, worse than) the Annual Cap Performance Level for that Annual Cancellations Benchmark, in each case for that Performance Calculation Year, then the Cancellations Performance Sum in respect of that Performance Calculation Year shall subject to paragraph 3.5 be payable by the Secretary of State to the Franchisee and shall be an amount calculated as follows: (TARGETC – ACTUALC) x PBPC TARGETC has the meaning given to it in paragraph 3.2(a); ACTUALC has the meaning given to it in paragraph 2.3; and PBPC has the meaning given to it in paragraph 3.2(a);