1. Where:
1.1 hubco has served a Participant Default Notice; and/or
1.2 hubco terminates this Agreement with respect to one or more Participants pursuant to Clause 22.2.2(a),
each Participant responsible for the Participant Event of Default giving rise to the service of the Participant Default Notice shall pay to hubco the relevant Participant Event of Default Compensation Sum (if any) calculated in accordance with paragraph 2.
2. The Participant Event of Default Compensation Sum payable by a Participant responsible (in whole or in part) for the Participant Event of Default in question shall be an amount equal to:
2.1 the aggregate of the Partnering Service Costs (subject always to operation of the relevant Project Development Fee Caps) which hubco or the Supply Chain Members have properly and reasonably incurred in connection with the provision of Project Development Partnering Services to that Participant but which have not been paid by that Participant at the time of service of the Participant Default Notice ("Unrecoverable Partnering Services Costs") less an amount equal to the aggregate of:
2.1.1 any such Partnering Service Costs so incurred which would, on the assumption that all Project Agreements continue in full force and effect for the full period of their respective terms, be recovered by Project Service Providers as part of the payments they receive under or in connection with such Project Agreements; and
2.1.2 any sums which any Project Service Provider has received from any of the Participants or has received or is entitled to receive under any policy of insurance by way of payment of, reimbursement or compensation towards any Unrecoverable Partnering Services Costs;
2.2 where the Participant Event of Default giving rise to a Participant Default Notice and/or termination is under Clause 22.1.2, interest at the Default Interest Rate on hubco's Partnering Services Costs properly incurred (subject always to the applicable Project Development Fee Cap) in relation to the Approved Project which is the subject of the delay referred to in Clause 22.1.2 for the period of such delay; and
2.3 where the Agreement has been terminated with respect to that Participant as a result of a Participant Event of Default by that Participant under Clause 22.1.2:
2.3.1 anticipated loss of profits for hubco on the 'lost' New Project (it being agreed that where more than one Participant has been responsible for the Participant Event of Default, each shall be jointly and severally liable to hubco for such lost profits, but hubco shall not be entitled to recover in total from all Participants any more than such anticipated loss of profits); and
2.3.2 where the Participant in question would be the sole Relevant Participant for the next New Project projected to reach financial close or otherwise be subject to a concluded Project Agreement in terms of the most recent decision of the TPB in that regard, anticipated loss of profits of hubco on that New Project.
3. For the purposes of paragraph 2.3.2, where the next New Project is one of a number of New Projects which are due to reach financial close or otherwise be subject to a concluded Project Agreement at the same time, for which the Participant in question would be the sole Relevant Participant, the next New Project shall be the scheme with the highest capital cost.
4. Where more than one Participant is responsible for the Participant Event of Default, each such Participant shall be severally liable for payment of the relevant Participant Event of Default Compensation Sum save as provided in paragraph 2.3.1 above.