The Term of the Project commences on the date of Financial Close and consists of:
• the Development Phase, during which Project Co designs and constructs the Project Assets (other than the Remaining Works) and Project Co and the State prepare for delivery of the Services. The Development Phase ends on the Date of Commercial Acceptance; and
• the Operational Phase, during which the Services are provided, which commences on the day after the Date of Commercial Acceptance (the Operational Commencement Date) and ends on the Final Expiry Date,
unless the Project is terminated early, in which case the Term will end on the Expiry Date.