Common use of Step Up Clause in Contracts

Step Up. 3.1 Subject to paragraph 3.2 and to clauses 9.14(c) and 9.14(d), in relation to any Financial Year commencing with or which comes after the Financial Year ending 31 March 2013, if: a. there has been a reduction in the percentage of Free Cash Flow under paragraph 2; and b. the Annual Contribution Amount for that Financial Year would be greater than that which would be otherwise required by clause 9 for that Financial Year, then the percentage of Free Cash Flow available for payments under clause 9 for that Financial Year shall be the percentage which applied in the previous year plus 5 percentage points. 3.2 If there has been an increase in the percentage of Free Cash Flow under paragraph 3.1, the percentage cannot be stepped up again from that level in any subsequent Financial Year.

Step Up. 3.1 Subject to paragraph 3.2 and to clauses 9.14(c) and 9.14(d), in relation to any Financial Year commencing with or which comes after the Financial Year ending 31 March 2013, if: a. there has been a reduction in the percentage of Free Cash Flow under paragraph 2; and b. the Annual Contribution Amount for that Financial Year would be greater than that which would be otherwise required by clause 9 for that Financial Year, then the percentage of Free Cash Flow available for payments under clause 9 for that Financial Year shall be the percentage which applied in the previous year plus 5 percentage points. 3.2 If if there has been an increase in the percentage of Free Cash Flow under paragraph 3.1, the percentage cannot be stepped up again from that level in any subsequent Financial Year.