Where the termination is due to a default of the Board or voluntary termination by it, then in general terms the Board will have to pay the Contractor an amount equal to:
1.1.1 the balance of the monies borrowed by the Contractor to fund the project and which will now have to be repaid ("senior debt" to the banks, and "junior or subordinated debt" to the investors;
1.1.2 losses which the Contractor will face due to the early termination, such as redundancy payments;
1.1.3 an amount equivalent to the profit that the Contractor would have made but for the early termination (determined by referring to the agreed financial calculations at the start of the Contract); but
1.1.4 minus the value (if any) of assets and account balances left in the hands of the Contractor on termination.
The financial calculations aim to put the Contractor in a position that is "no better, no worse" than it would have been had the Contract run for its full length. Note that, in an NPD project, the assessment of the Contractor's "profits" will not include equity returns, rather the assessment will consider the value of the Contractor's subordinated debt interests in the project.