Common use of Variable Usage Charge Clause in Contracts

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 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 𝑃𝐶𝐼𝐴𝑡 formula: = (1 + (𝐶𝑃��𝑡−1−𝐶𝑃)𝐼2018) 𝐶𝑃𝐼2018 ) × 𝐼𝑛𝑖�𝐶𝑃𝐼2018 where: �𝑖𝑎𝑙 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 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 + (𝐶𝑃𝐼�𝑡 �−1−𝐶𝑃𝐼2018) 𝐶𝑃𝐼2018 ) × 𝐼𝑛𝑖�where: �𝑖𝑎𝑙 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.