53.8  Adjusted Amount

Where the Authority has exercised the waiver pursuant to clause 53.6, it shall be entitled to deduct from the annual Unitary Charge the Adjusted Amount, such amount being an amount equal to the amount paid for the particular Insurance Term in the preceding year (using a reasonable estimate of such amount where a precise figure is not available) less any annual amount paid or payable by the Service Provider to maintain and/or procure the maintenance of any (whether full or partial) alternative or replacement insurance in respect of such Insurance Term pursuant to clause 53.7.