The Original Date for Commercial Acceptance on which Project Co is required to achieve Commercial Acceptance is set at Financial Close. At Financial Close, the Original Date for Commercial Acceptance and the Date for Commercial Acceptance will be the same. However, while the Date for Commercial Acceptance is adjusted for extensions of time awarded to Project Co under the Project Deed, the Original Date for Commercial Acceptance is not.
The Original Date for Commercial Acceptance provides the parameters for the State's entitlement to repayment of a portion of Prolongation Costs paid to Project Co by the State where Commercial Acceptance is achieved prior to the Date for Commercial Acceptance but after the Original Date for Commercial Acceptance (refer to section 2.25.4.3). It is also used to calculate the incremental interest payable to Project Co under the Finance Documents for certain Change Compensation Events in accordance with the Change Compensation Principles.
In Social Infrastructure Availability PPP Projects the State also has no obligation to certify Commercial Acceptance prior to the Original Date for Commercial Acceptance (see section 2.25.4.1 below for a more detailed discussion of this).