Adjustment Formula
8.1 Any Adjustments under PS8 shall apply only on one (1) occasion each Payment Year after the final Milestone Completion Date and shall be shown as an Adjustment to the Monthly Payment for the Month following the end of the previous Payment Year.
8.2 Failure to satisfy PS8 Performance Target A or PS8 Performance Target B of the Output Specification by the period indicated in the relevant Annual Investment Programme shall lead to an Adjustment to the first Monthly Payment of the relevant Payment Year in accordance with the following formula i.e.:
Adjustment (if positive) | = | Number of failures to Upgrade Roads x X |
Where: | ||
Number of failures to Upgrade Roads | = | the number of roads indicated in the relevant Annual Investment Programme for the relevant Payment Year which at the end of such Payment Year have not been upgraded in accordance with such Annual Investment Programme |
X | = | £1,000 (Indexed)] |