50.1  Retendering Election

(a)  Subject to clause 50.1.2 (Retendering Election), the Authority shall be entitled to either:

(i)  retender the provision of the Project in accordance with clause 50.2 (Retendering Procedure); or

(ii)  require an expert determination in accordance with clause 50.3 (No Retendering Procedure).

(b)  The Authority shall be entitled to elect to retender the provision of the Project in accordance with clause 50.2 (Retendering Procedure) if:

(i)  the Authority notifies the Contractor on or before the date falling twenty (20) Business Days after the Termination Date that it intends to retender; and

(ii)  there is a Liquid Market; and either:

(A)  the Senior Lenders have not exercised their rights to step-in under [    ] of the Direct Agreement; or

(B)  the Contractor or the Senior Lenders have not procured the transfer of the Contractor's rights and liabilities under this Agreement to a Suitable Substitute Contractor and have failed to use all reasonable efforts to do so,

but otherwise the Authority shall not be entitled to re-tender the provision of the Project and clause 50.3 (No Retendering Procedure) shall apply.