Transport for LondonPPP Contracts
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Schedule 4.2 - Indexation |
| 1 Any monetary value or amount ( the Indexable Amount ) set out in any Transaction Document ( other than the Acton Works Lease to Infraco, the Frank Pick House Sub-lease and the Signal House Sub-lease and the and except for Asset Damage Mandatory Deductible, Third Party Mandatory Deductible and amounts set out in Schedule 5.19 ) shall be indexed ( the result of such indexation being the Indexed Amount ), in the absence of express provision to the contrary, pursuant to the following provisions of this Schedule 4.2. |
| 2 Where no reference is made in the any Transaction Document to indexation taking place as at any particular date, indexation shall take place annually on the anniversary of the Start Date. |
| 2A Where the level of ISC agreed between the parties or directed by the Arbiter at a Periodic Review is determined relative to prices as at the month of February 2002, then the provisions of this Schedule 4.2 shall be applied as at the date determined pursuant to paragraph 5.5 of Schedule 1.9 to inflate the Underlying ISC and those other components of the Baseline ISC that are to be indexed to the level of prices as at the month of February immediately prior to which the Review Date falls. |
3 The Indexed Amount is calculated as follows: x ( Indexable Amount )where: ro = RPIX published for February 2002. |
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Withdrawal of index |
| 4 If any index, any of the publications or the information derived from any such publication and referred to in any Transaction Document ceases to be published, then such alternative index or publication or information which the parties agree produces as nearly as possible the same result or gives the same information shall be substituted therefore, and if the reference date used in the compilation of any such index or information shall change, the figure taken to be shown in such index or information shall be the figure which would have been shown in the index or information if the original reference date had been retained. |
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Change in the Basis of Index |
| 5 If there has been a material change in the basis of information from which the index is compiled which produces a significant change to the indexation provisions contained in any Transaction Document or it becomes impossible, by reason of any change after the date hereof in the method used to compile any such index or information or for any other reason whatever, to calculate the amounts by which the sums payable hereunder should be adjusted by reference to any such index or information or any alternatives thereto, the parties shall agree such alternative method of adjusting the last available reference charge payable under the relevant Transaction Document as a basis for the making of subsequent payments under that Transaction Document as most closely reflects the intent of the index or information in question. |
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Reference to Disputes Procedure |
| 6 If any dispute or difference shall arise between the parties as to this Schedule 4.2 or as to the calculation of the sums payable in the circumstances referred to in paragraphs 4 or 5 ( and a dispute shall be deemed to have arisen if the parties have not reached agreement within six (6) weeks of the occurrence of the event referred to in paragraphs 4 or 5 ) the same shall be determined in accordance with the provisions of the Dispute Resolution Agreement. |
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Effect of determination under Disputes Procedure |
| 7 If so determined pursuant to this Schedule 4.2 and the Dispute Resolution Agreement, the index or information in respect of which the dispute or difference has arisen between the parties may be amended, or replaced by a substitute index or information, or replaced by other provisions providing for the adjustment of payments under any Transaction Document, as may be provided in such determination, and the necessary payments and repayments shall be made between the parties together with interest at the Applicable Rate in order to give effect to such determination with effect from the date on which it is determined that the circumstances or events giving rise to dispute or difference between the parties occurred. |
