The Third Party Income Deduction is calculated in accordance with the following formula:
T14 = (TPI - GTPI) * SP
where:
TPI | The Third Party Income in the relevant Contract Year |
GTPI | The Guaranteed Third Party Income in the relevant Contract Year |
SP |
Where Third Party Income in the relevant Contract Year is less than the Guaranteed Third Party Income, then TPI - GTPI shall be deemed to be zero.
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14 The Authority should not accept any capping of the value of T at any level whatsoever.