Escalation of Reference Tariff Sample Clauses

Escalation of Reference Tariff. 3.2.1 Each component of a Reference ▇▇▇▇▇▇, except the QCA Levy, will automatically escalate on each Escalation Date in accordance with the following formula: ⎛ CPIn ⎞ ATn = ATn−1 × ⎜ CPI ⎟ ⎝ n−1 ⎠ where: ATn means the value of the relevant Reference Tariff component to apply after escalation; ATn-1 means the escalated value of the relevant Reference Tariff component immediately prior to the relevant Escalation Date, or in the case of the First Escalation Date means the relevant Reference Tariff component specified in Part B or Part C for each nominated Reference Train Service;