3.1 If, following the completion of the Insurance Review Procedure, it is agreed or determined that there is an Exceptional Cost, the Board shall within thirty (30) days of completion of the Insurance Review Procedure make a one-off lump-sum payment to Project Co equal to 85% of the Exceptional Cost.
3.2 If, following the completion of the Insurance Review Procedure, it is agreed or determined that there is an Exceptional Saving, Project Co shall within thirty (30) days of completion of the Insurance Review Procedure make a one-off lump-sum payment to the Board equal to 85% of the Exceptional Saving.
3.3 Following the completion of the Insurance Review Procedure, if it is agreed or determined that there is neither an Exceptional Cost nor an Exceptional Saving, any Insurance Cost Differential shall be borne by or benefit Project Co.
If at any time an Insurance Cost Index is published and intended for use in PFI contracts of a similar nature to this Contract, the Parties shall meet with a view to agreeing (a) its application to the Project, taking into account any relevant guidance issued by HM Treasury and (b) how a Portfolio Cost Saving may be accounted for when the index is in use.