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, 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