Variable Usage Charge Sample Clauses

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: = ∑ ● where:

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge for the Relevant Year t (including any light locomotive movements) which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 • 𝑈𝑉𝑖𝑡 where: Vit means an amount for vehicle type i for Relevant Year t, expressed in pounds sterling per Train Mile and rounded to four decimal places, which is derived as follows: (a) in relation to the Relevant Year t commencing on 1 April 2019, Vit shall have, in respect of each Train Mile, the value set out in the section of the Track Usage Price List entitled "Charter Variable Usage Charge rates", multiplied by the Initial Indexation Factor; and (b) in relation to any Relevant Year t commencing on or after 1 April 2020, Vit shall have, in respect of each Train Mile, the value set out in the section of the Track Usage Price List entitled "Charter Variable Usage Charge rates", multiplied by the phased-in charges indexation adjustment derived from the following formula: = (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼2018) 𝐶𝑃𝐼2018 ) × 𝐼𝑛𝑖𝑡𝑖𝑎𝑙 𝐼𝑛𝑑𝑒𝑥𝑎𝑡𝑖𝑜𝑛 𝐹𝑎𝑐𝑡𝑜𝑟 PCIAt means the phased-in charges indexation adjustment in respect of Relevant Year t; CPIt-1 means the CPI published or determined with respect to November in Relevant Year t-1; and CPI2018 means the CPI published or determined with respect to November 2018; UVit means the actual volume of usage (in Train Miles) for the Relevant Year t for vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator under this contract; and ∑ means the summation across all relevant vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge for the Relevant Year t (including any light locomotive movements) which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 • 𝑈𝑉𝑖𝑡 where: Vit, for vehicle type i in relation to any Relevant Year t, shall have, in respect of each Train Mile, the value (expressed in pounds sterling per Train Mile and rounded to four decimal places) set out in the section of the Track Usage Price List entitled "Charter Train Variable Usage Charge (VUC) rates", multiplied by the phased-in charges indexation adjustment derived from the following formula: = (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼2022) ) 𝐶𝑃𝐼2022

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 ●𝑈𝑉𝑖𝑡 where: Vit means an amount for vehicle type i for Relevant Year t, expressed in ▇▇▇▇▇ per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: ● (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼𝑡−2) 𝑖𝑡−1 ) 𝐶𝑃𝐼𝑡−2 where: CPIt-1 means the CPI published or determined with respect to the month of November in Relevant Year t-1; and CPIt-2 means the CPI published or determined with respect to the month of November in Relevant Year t-2, but so that in relation to the Relevant Year commencing on 1 April 2019, Vit shall have, in respect of vehicle type i, the corresponding variable usage charge rate per Vehicle Mile for that vehicle type i set out in the Track Usage Price List, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year, Vit-1 shall have the same value; UVit means the actual volume of usage (in Vehicle Miles) in Relevant Year t of vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant categories of vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 ●𝑈𝑉𝑖𝑡 where: Vit means an amount for vehicle type i for Relevant Year t, expressed in ▇▇▇▇▇ per Vehicle Mile and rounded to two decimal places, which is derived from the following formula: where: 𝑉𝑖𝑡 = 𝑉𝑖𝑡−1 ● (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼𝑡−2)) 𝐶𝑃𝐼��−2 CPIt-1 has the meaning set out in paragraph 2.2 above; and CPIt-2 means the CPI published or determined with respect to the month of November in Relevant Year t-2, but so that in relation to the Relevant Year commencing on 1 April 2019, Vit shall have, in respect of vehicle type i, the corresponding variable usage charge rate per Vehicle Mile for that vehicle type i set out in the Track Usage Price List, multiplied by the Initial Indexation Factor; and in relation to the next following Relevant Year Vit-1 shall have the same value; UVit means the actual volume of usage (in Vehicle Miles) in Relevant Year t of vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant categories of vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge in Relevant Year t which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 • 𝑈𝑉𝑖𝑡 where: Vit means an amount for a type of vehicle i for Relevant Year t, expressed in ▇▇▇▇▇ per Vehicle Mile and rounded to two decimal places, which is derived as follows: (a) in respect of the Relevant Year commencing on 1 April 2019, Vit shall be, in respect of each Vehicle Mile, the appropriate variable usage charge rate set out in (c) below, multiplied by the Initial Indexation Factor; (b) in respect of any Relevant Year t commencing on or after 1 April 2020, Vit shall be, in respect of each Vehicle Mile, the appropriate variable usage charge rate set out in (c) below, multiplied by the phased-in charges indexation adjustment derived from the following formula: = (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼2018) 𝐶𝑃𝐼2018 ) × 𝐼𝑛𝑖𝑡𝑖𝑎𝑙 𝐼𝑛𝑑𝑒𝑥𝑎𝑡𝑖𝑜𝑛 𝐹𝑎𝑐𝑡𝑜𝑟 PCIAt means the phased-in charges indexation adjustment in respect of Relevant Year t; CPIt-1 means the CPI published or determined with respect to the month of November in Relevant Year t-1; CPI2018 means the CPI published or determined with respect to the month of November in 2018, (c) the appropriate variable usage charge rate for the purposes of (a) and (b) above shall be the corresponding variable usage charge rate per Vehicle Mile as set out in the section of the Track Usage Price List entitled “West Coast Railway Company Limited Variable Usage Charge rates (Jacobite)”; UVit means the actual volume of usage (in Vehicle Miles) in Relevant Year t of vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator; and ∑ means the summation across all relevant categories of vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge for the Relevant Year t (including any light locomotive movements) which is derived from the following formula: 𝑉𝑡 = ∑𝑉𝑖𝑡 • 𝑈𝑉𝑖𝑡 where: Vit, for vehicle type i in relation to any Relevant Year t, shall have, in respect of each Train Mile, the value (expressed in pounds sterling per Train Mile and rounded to four decimal places) set out in the section of the Track Usage Price List entitled "Charter Train Variable Usage Charge (VUC) rates", multiplied by the phased-in charges indexation adjustment derived from the following formula: 𝑃𝐶𝐼𝐴 = (1 + (𝐶𝑃𝐼𝑡−1−𝐶𝑃𝐼2022) ) 2022 PCIAt means the phased-in charges indexation adjustment in respect of Relevant Year t; CPIt-1 means the CPI published or determined with respect to November in Relevant Year t-1; and CPI2022 means the CPI published or determined with respect to November 2022; UVit means the actual volume of usage (in Train Miles) for the Relevant Year t for vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator under this contract; and ∑ means the summation across all relevant vehicle types i.

Variable Usage Charge. For the purposes of paragraph 1, the term Vt means an amount in respect of the Variable Usage Charge for the Relevant Year t (including any light locomotive movements) which is derived from the following formula: where: Vit, for vehicle type i in relation to any Relevant Year t, shall have, in respect of each Train Mile, the value (expressed in pounds sterling per Train Mile and rounded to four decimal places) set out in the section of the Track Usage Price List entitled "Charter Train Variable Usage Charge (VUC) rates", multiplied by the phased-in charges indexation adjustment derived from the following formula: where: PCIAt means the phased-in charges indexation adjustment in respect of Relevant Year t; CPIt-1 means the CPI published or determined with respect to November in Relevant Year t-1; and CPI2022 means the CPI published or determined with respect to November 2022; UVit means the actual volume of usage (in Train Miles) for the Relevant Year t for vehicle type i (referred to in the Track Usage Price List) operated by or on behalf of the Train Operator under this contract; and ∑ means the summation across all relevant vehicle types i.

Variable Usage Charge