8.11  [Expiry of Agreement]

Before or within twenty (20) Business Days after the last day of the Contract Period, the Authority may, by written notice to the Contractor, require the Contractor forthwith on receipt at the Authority's option either:

(a)  to assign, with effect from the last day of the Contract Period, its unencumbered interest in each Head Lease (and consent to any variation in the terms of the Head Lease if required) to such assignee as shall be notified by the Authority to the Contractor in the notice by delivering to the Authority within ten (10) Business Days a duly executed deed of assignment in such form as the Authority and the Contractor shall agree (each acting reasonably together with all relevant title deeds and releases from any charge); or

(b)  to surrender its interest, with effect from the last day of the Contract Period, in each Head Lease by delivering to the Authority, within ten (10) Business Days of receipt of the notice, a duly executed deed of surrender in such form as the Authority and the Contractor shall agree (each acting reasonably) together with all relevant title deeds, releases or discharges.]86

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86 Only required where Head Lease has longer term than contract period.