1.1  Definitions

In this Agreement, the following terms shall, unless the context otherwise requires, have the following meanings:

"Ancillary Documents"

has the meaning given in the Project Agreement

"Business Day"

means a day other than a Saturday, Sunday or a bank holiday in Scotland

"Event of Project Co Default"

has the meaning given in the Service Contract

"Senior Funders' Direct Agreement"

is the agreement of even date herewith between, amongst others, Project Co, the Service Provider and the Senior Funder

"Novation Agreement"

has the meaning given in Clause 4.5.2(b) (Project Documents)

"Novation Effective Date"

means the date of performance of the obligations set out in Clause 4.5.2 (Project Documents)

"Parent Company Guarantee"

has the meaning given in the Service Contract

"Project Agreement

means the Project Agreement of even date herewith between (1) the Board and (2) Project Co

"Proposed Novation Date"

has the meaning given in Clause 4.1 (Project Documents)

"Proposed Novation Notice

has the meaning given in Clause 4.1 (Project Documents)

"Proposed Step-in Date

has the meaning given in Clause 3.1 (Commencement and Duration)

"Proposed Substitute

has the meaning given in Clause 4.1 (Project Documents)

"Security Documents

has the meaning given in the Senior Funders' Direct Agreement

"Service Contract"

has the meaning given in the Project Agreement

"Step-in Date

means the date of issue of the Step-in Undertaking

"Step-in Notice

has the meaning given in Clause 3.1 (Commencement and Duration)

"Step-in Period

means the period commencing on the Step-in Date and ending on the earliest of:

the date of the first anniversary of the Step-in Date (but subject always to Clause 4.7 (Project Documents));

the Step-out Date;

the Novation Effective Date; and

termination of the Service Contract under Clause 3.3 (Commencement and Duration)

"Step-in Undertaking

has the meaning given in Clause 3.2.4 (Commencement and Duration)

"Step-out Date

has the meaning given in Clause 3.4.1 (Commencement and Duration)

"Termination Notice

has the meaning given in Clause 2.4 (Execution and Delivery of Documents)