4.1 At any time during the Required Period the Agent may issue a written notice (the "No Liquid Market Notice") to the Authority setting out the reasons why the Agent does not believe that a Liquid Market exists.
4.2 On or before the date falling fourteen (14) Business Days after the date on which a No Liquid Market Notice is received by the Authority, the Authority shall notify the Agent of its opinion as to whether or not a Liquid Market exists. Where the Authority believes that a Liquid Market does exist, such notice shall set out the reasons for the Authority's belief. If the parties do not agree whether or not a Liquid Market exists, then either party may refer the dispute to be determined in accordance with paragraph 17 (Disputes) below.
4.3 If the parties agree or it is determined in accordance with Clause 56 (Dispute Resolution Procedure) of the Design Build Finance and Maintain Agreement that no Liquid Market exists, the Design Build Finance and Maintain Agreement shall automatically terminate and the provisions of paragraph 4 (No Retendering Procedure) of Section 2 (Compensation for Project Co Default) of Schedule Part 17 (Compensation on Termination) to the Design Build Finance and Maintain Agreement (No Retendering) shall apply.
4.4 If any dispute relating to this paragraph 4 (No Liquid Market) is determined pursuant to paragraph 17, the Required Period shall be extended by the period of time spent determining such dispute pursuant to paragraph 17.