1  Income Benchmarking

When the Adjustment Amount is agreed or determined pursuant to the Income Benchmarking Process:

any increase or decrease in the Unitary Charge shall be effective from the Income Benchmarking Date or, as appropriate, backdated to such date;

where the Adjustment Amount is an increase to the Unitary Charge, the Unitary Charge shall be increased by the Adjustment Amount less [♦]7;

where the Adjustment Amount is a reduction in the Unitary Charge, the Unitary Charge shall be reduced by [♦]8 of the Adjustment Amount provided that the Unitary Charge shall never be reduced to a level below that shown in the Leisure Operator Base Trading Account (indexed).

Where it is agreed or determined pursuant to the Income Benchmarking Process that there shall be an Authority Change, the Authority shall serve on the Contractor, an Authority Notice of Change in accordance with Clause 59.2 (Authority Notice of Change).  Provided that:

the Estimate shall reflect the Income Benchmarking Report (if accepted) or such terms as are agreed by the Parties; and

the Authority shall confirm acceptance of such Authority Notice of Change pursuant to Clause 59.7 (Confirmation of Withdrawal of Authority Notice).

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7  This should be the same figure set out in paragraph 1.2.2 of Part 2.

8  Bid back item.  It should not be less than 50%.