14.5.2  Principles for variations to Base Case Financial Model

The Base Case Financial Model will be varied taking into account only the following:

(a)  the changes to the private party's incremental costs and/or benefits directly resulting from the variation event (in the light of certain specified parameters such as minimum debt coverage ratios and the internal rate of return (as agreed in the Base Case Financial Model)); and

(b)  any changes to the periodic service fee made in accordance with the project agreement.