72.3  No Better and no Worse



72.3.1  Any reference in this Agreement to "no better and no worse" or to leaving the Contractor in a "no better and no worse position" shall be construed by reference to the Contractor's:

(a)  rights, duties and liabilities under or arising pursuant to performance of this Agreement, the Financing Agreements, the Building Contract and FM Agreement; and

(b)  ability to perform its obligations and exercise its rights under this Agreement, the Financing Agreements, the Building Contract and the FM Agreement, so as to ensure that:

(c)  the Contractor is left in a position which is no better and no worse in relation to the [key ratios (to include loan life cover and debt service cover ratios) and internal rate of return]192 by reference to the version of the Base Case applicable immediately prior to the Relevant Event than had the Relevant Event not occurred; and

(d)  the ability of the Contractor to comply with this Agreement is not adversely affected or improved as a consequence of the Relevant Event.




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192 Project specific issue - to be discussed with bidders and conformed to Financing Agreements.