"Applicable Law"

means any [decree, resolution, law, statute, act, decision, ordinance, rule, directive (to the extent having the force of law), order, treaty, code or regulation or any interpretation of the foregoing by a relevant authority having jurisdiction over the matter in question, as enacted, issued or promulgated by any relevant authority, in each case applicable in [insert jurisdiction in which the PPP Project is located]; [Drafting to be adapted for the relevant jurisdiction - any reference to amendments, modifications, extensions, replacements or re-enactments must not cut across Change in Law definition].

"Change in Law"

means, after the [Setting Date,] any of the following events:

(a)  the enactment of any new Applicable Law;

(b)  the repeal, modification or re-enactment of any existing Applicable Law; and/or

(c)  a change in the interpretation or application of any Applicable Law,

which

(i)  adversely affects (i) the ability of a Party to comply with its obligations under the PPP Contract or (ii) [the Base Case Equity IRR]; and

(ii)  was not [published as a draft law] in the [insert applicable publication source for legislation] or in effect at the Setting Date. [Adapt as appropriate for "in the public domain"].

"Estimated Change in Project Costs"

means the aggregate of any estimated increase in construction costs, operating costs and financing costs less the aggregate of any estimated reduction in construction costs, operating costs and financing costs.