49.2  Instalments

The Authority may:

(a)  other than on an Authority Default, elect to pay the Adjusted Estimated Fair Value of the Contract or the Base Senior Debt Termination Amount or the Revised Senior Debt Termination Amount (as relevant) element of the Termination Sum in instalments as follows:

(i)  where the Base Senior Debt Termination Amount or the Revised Senior Debt Termination Amount or the Adjusted Estimated Fair Value of the Contract (as relevant) is greater than or equal to the Outstanding Principal:

(A)  in respect of that element of the Base Senior Debt Termination Amount or the Revised Senior Debt Termination Amount or the Adjusted Estimated Fair Value of the Contract (as relevant) representing the Outstanding Principal, on the dates (the Instalment Dates) and in the amounts that the Contractor would have been required to pay principal to the Senior Lenders under the terms of the Senior Credit Agreement had the Termination Date not occurred; and

(B)  in respect of the sum (if any) remaining after deducting the Outstanding Principal from the Base Senior Debt Termination Amount or the Revised Senior Debt Termination Amount or the Adjusted Estimated Fair Value of the Contract (as relevant), in equal instalments on the Instalment Dates;

(ii)  where the Base Senior Debt Termination Amount or the Revised Senior Debt Termination Amount or the Adjusted Estimated Fair Value of the Contract (as relevant) is less than the Outstanding Principal, on the Instalment Dates pro rata to the amounts that the Contractor would have been required to pay as principal to the Senior Lenders on each Instalment Date under the terms of the Senior Credit Agreement had the Termination Date not occurred; or

as the parties may otherwise agree.

(b)  in any case (including on an Authority Default) elect to pay the Lender RV Element (if payable in accordance with the provisions of clauses 42 (Compensation on Termination for Force Majeure), 44 (Compensation on Termination for Authority Default/Voluntary Termination) or 45 (Compensation on Corrupt Gifts, Fraud and Refinancing Breaches):

(i)  on [the Expiry Date]; or

(ii)  as the parties may otherwise agree.