Common use of Price variation Clause in Contracts

Price variation. For each Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraph 2.7.2. For the Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted as at 1 April 2019 by multiplying them by the Initial Indexation Factor. For the Relevant Year commencing on and from 1 April 2020, and for each subsequent Relevant Year, the adjusted Indexed Figures from the preceding Relevant Year shall be further adjusted as at the applicable 1 April by multiplying them by the Adjustment Factor for the Relevant Year in question (rounded to three decimal places). For the purposes of this paragraph 2.7.2(b), the Adjustment Factor in respect of a Relevant Year shall be calculated in accordance with the following formula: where: CPIt-1 means the average value of the monthly CPI figures for the 12 months up to and including the month of December immediately preceding 1 April in the Relevant Year in question; and CPIt-2 means the average value of the monthly CPI figures for the 12 months up to and including the month of December which falls 16 months before 1 April in the Relevant Year in question. If this contract takes effect after 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraphs 2.7.2(a) and (b) as if this contract had been in effect on and from 1 April 2019. The Phased in Charges Indexation Adjustment shall be derived: in respect of the Relevant Year commencing on 1 April 2019, from the following formula: where: PCIA2019 means the Phased in Charges Indexation Adjustment in respect of the Relevant Year commencing on 1 April 2019; and in respect of any Relevant Year t commencing on or after 1 April 2020, from the following formula: where: PCIAt means the Phased in Charges Indexation Adjustment in respect of the Relevant Year t; CPIt-1 has the same meaning as set out in paragraph 2.7.2 above; CPI2018 means the average value of the monthly CPI figures for the 12 months up to and including the month of December 2018. The value derived from this formula shall be rounded to three decimal places. Freight charging review The Track Charges will be reviewed and adjusted by the CVL IM on 1 April 2024 and thereafter reviewed and adjusted on a five-yearly basis and the parties acknowledge and agree that such review and adjustment shall: comply with relevant applicable law; and be consistent with the charging framework published by XXX in respect of the CVL. Track Charges The Variable Charge in respect of each Service in each Charging Period shall be calculated in accordance with the following formula: where: 2 means, in respect of each empty wagon, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant empty wagon type multiplied by the kgtm for that empty wagon type relating to the relevant Service; 3 means, in respect of each loaded wagon, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant loaded wagon type multiplied by the kgtm for that loaded wagon type relating to the relevant Service; 4 means, in respect of each unit of coaching stock, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant coaching stock type multiplied by the kgtm for that coaching stock type relating to the relevant Service; 5 has a value of zero; 6 has a value of zero;

Price variation. For each Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraph 2.7.2. For the Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted as at 1 April 2019 by multiplying them by the Initial Indexation Factor. For the Relevant Year commencing on and from 1 April 2020, and for each subsequent Relevant Year, the adjusted Indexed Figures from the preceding Relevant Year shall be further adjusted as at the applicable 1 April by multiplying them by the Adjustment Factor for the Relevant Year in question (rounded to three decimal places). For the purposes of this paragraph 2.7.2(b), the Adjustment Factor in respect of a Relevant Year shall be calculated in accordance with the following formula: whereWhere: CPIt-1 means the average value of the monthly CPI figures for the 12 months up to and including the month of December immediately preceding 1 April in the Relevant Year in question; and CPIt-2 means the average value of the monthly CPI figures for the 12 months up to and including the month of December which falls 16 months before 1 April in the Relevant Year in question. If this contract takes effect after 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraphs 2.7.2(a) and (b) as if this contract had been in effect on and from 1 April 2019. The Phased in Charges Indexation Adjustment shall be derived: in respect of the Relevant Year commencing on 1 April 2019, from the following formula: PCIA2019 = Initial Indexation Factor where: PCIA2019 means the Phased in Charges Indexation Adjustment in respect of the Relevant Year commencing on 1 April 2019; and in respect of any Relevant Year t commencing on or after 1 April 2020, from the following formula: where: PCIAt means the Phased in Charges Indexation Adjustment in respect of the Relevant Year t; CPIt-1 has the same meaning as set out in paragraph 2.7.2 above; CPI2018 means the average value of the monthly CPI figures for the 12 months up to and including the month of December 2018. The value derived from this formula shall be rounded to three decimal places. Freight charging review The Track Charges will be reviewed and adjusted by the CVL IM on 1 April 2024 and thereafter reviewed and adjusted on a five-yearly basis and the parties acknowledge and agree that such review and adjustment shall: comply with relevant applicable law; and be consistent with the charging framework published by XXX in respect of the CVL. Track Charges The Variable Charge in respect of each Service in each Charging Period shall be calculated in accordance with the following formula: where: 2 means, in respect of each empty wagon, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant empty wagon type multiplied by the kgtm for that empty wagon type relating to the relevant Service; 3 means, in respect of each loaded wagon, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant loaded wagon type multiplied by the kgtm for that loaded wagon type relating to the relevant Service; 4 means, in respect of each unit of coaching stock, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant coaching stock type multiplied by the kgtm for that coaching stock type relating to the relevant Service; 5 has a value of zero; 6 has a value of zero;.

Price variation. For each Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraph 2.7.2. For the Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted as at 1 April 2019 by multiplying them by the Initial Indexation Factor. For the Relevant Year commencing on and from 1 April 2020, and for each subsequent Relevant Year, the adjusted Indexed Figures from the preceding Relevant Year shall be further adjusted as at the applicable 1 April by multiplying them by the Adjustment Factor for the Relevant Year in question (rounded to three decimal places). For the purposes of this paragraph 2.7.2(b), the Adjustment Factor in respect of a Relevant Year shall be calculated in accordance with the following formula: where: CPIt-1 means the average value of the monthly CPI figures for the 12 months up to and including the month of December immediately preceding 1 April in the Relevant Year in question; and CPIt-2 means the average value of the monthly CPI figures for the 12 months up to and including the month of December which falls 16 months before 1 April in the Relevant Year in question. If this contract takes effect after 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraphs 2.7.2(a) and (b) as if this contract had been in effect on and from 1 April 2019. The Phased in Charges Indexation Adjustment shall be derived: in respect of the Relevant Year commencing on 1 April 2019, from the following formula: where: PCIA2019 means the Phased in Charges Indexation Adjustment in respect of the Relevant Year commencing on 1 April 2019; and in respect of any Relevant Year t commencing on or after 1 April 2020, from the following formula: where: PCIAt means the Phased in Charges Indexation Adjustment in respect of the Relevant Year t; CPIt-1 has the same meaning as set out in paragraph 2.7.2 above; CPI2018 means the average value of the monthly CPI figures for the 12 months up to and including the month of December 2018. The value derived from this formula shall be rounded to three decimal places. Freight charging review The Track Charges will be reviewed and adjusted by the CVL IM on 1 April 2024 and thereafter reviewed and adjusted on a five-yearly basis and the parties acknowledge and agree that such review and adjustment shall: comply with relevant applicable law; and be consistent with the charging framework published by XXX in respect of the CVL. Track Charges The Variable Charge in respect of each Service in each Charging Period shall be calculated in accordance with the following formula: where: 2 means, in respect of each empty wagon, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant empty wagon type multiplied by the kgtm for that empty wagon type relating to the relevant Service; 3 means, in respect of each loaded wagon, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant loaded wagon type multiplied by the kgtm for that loaded wagon type relating to the relevant Service; 4 means, in respect of each unit of coaching stock, the VUC Rate, expressed in pounds sterling per 1000 Gross Tonne Mile and rounded to four decimal places, for the relevant coaching stock type multiplied by the kgtm for that coaching stock type relating to the relevant Service; 5 has a value of zero; 6 has a value of zero;.