Common use of Principal formula Clause in Contracts

Principal formula. 1.1 During each Relevant Year, the CVL IM shall levy and the Train Operator shall pay Track Charges in accordance with the following formula: = + where: Tt means Track Charges in Relevant Year t; Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the formula in paragraph 3.1 Dt means an amount (if any) in respect of the VUC Default Charge in Relevant Year t which is calculated in accordance with paragraph 3.3.

Principal formula. 1.1 During each Relevant Year, the CVL IM shall levy and the Train Operator shall pay Track Charges in accordance with the following formula: 𝑇𝑡 = 𝑉𝑡 + where𝐷𝑡 + 𝐸𝐴𝑉𝑡where: Tt means Track Charges in Relevant Year t; Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the formula in paragraph 3.1 3.1; Dt means an amount (if any) in respect of the VUC Default Charge in Relevant Year t which is calculated in accordance with paragraph 3.3; and EAVt means an amount in respect of the Electrification Asset Usage Charge, calculated in accordance with the formula in paragraph 8.

Principal formula. 1.1 During each Relevant Year, the CVL IM shall levy and the Train Operator shall pay Track Charges in accordance with the following formula: 𝑇𝑡 = 𝑉𝑡 + 𝐷𝑡 where: Tt means Track Charges in Relevant Year t; Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the formula in paragraph 3.1 Dt means an amount (if any) in respect of the VUC Default Charge in Relevant Year t which is calculated in accordance with paragraph 3.3.