Common use of Grant Amounts, Basic Amounts and Payment Dates Clause in Contracts

Grant Amounts, Basic Amounts and Payment Dates. For the purposes of this Part 3A: (a) the Basic Amount, in respect of any Payment Date, is the amount which is notified by Network Rail to the Secretary of State in respect of that Payment Date, excluding any amounts notified by Network Rail which: (i) are not needed by Network Rail in respect of that Payment Date, or (ii) would cause the total of the Basic Amounts so notified for the Relevant Year in which the Payment Date fails to exceed the value of the Grant Amount for that Relevant Year; (b) the Grant Amount, in respect of any Relevant Year, is the network grant amount set out in Table E2B as the annual amount to be paid in that Relevant Year by the Secretary of State to Network Rail by way of grant under section 6 of the Railways ▇▇▇ ▇▇▇▇, as adjusted from time to time in accordance with the Grant Mechanism; and (c) the Payment Dates are the dates set out in the Grant Agreement for the payment of grant by the Secretary of State in each of the Relevant Years commencing on 1 April 2019, 1 April 2020, 1 April 2021, 1 April 2022, 1 April 2023 or, if no such dates are set out, the first Wednesday of each railway period in each such Relevant Year.

Grant Amounts, Basic Amounts and Payment Dates. For the purposes of this Part 3A: (a) the Basic Amount, in respect of any Payment Date, is the amount which is notified by Network Rail to the Secretary of State in respect of that Payment Date, excluding any amounts notified by Network Rail which: (i) are not needed by Network Rail in respect of that Payment Date, or (ii) would cause the total of the Basic Amounts so notified for the Relevant Year in which the Payment Date fails to exceed the value of the Grant Amount for that Relevant Year; (b) the Grant Amount, in respect of any Relevant Year, is the network grant amount set out in Table E2B as the annual amount to be paid in that Relevant Year by the Secretary of State to Network Rail by way of grant under section 6 of the Railways ▇▇▇ ▇▇▇▇Act 2005, as adjusted from time to time in accordance with the Grant Mechanism; and (c) the Payment Dates are the dates set out in the Grant Agreement for the payment of grant by the Secretary of State in each of the Relevant Years commencing on 1 April 2019, 1 April 2020, 1 April 2021, 1 April 2022, 1 April 2023 or, if no such dates are set out, the first Wednesday of each railway period in each such Relevant Year.