State Approvals are Approvals required to be obtained by the State. They will be determined on a project specific basis. However, typically, the State's intention is that State Approvals will be limited to approval of the proposed land use consistent with the transfer of design risk to Project Co. The way in which the State bears the risk of State Approvals, for example whether they will be a Condition Precedent, will be determined on a project specific basis depending on the nature of the Approval, how fundamental it is to the Project, the planning and procurement pathway and timing of Contract Close.
Other events that will not constitute a State Approval Event will be considered and included on a project specific basis and will be identified by the State taking into account the specific nature of the State Approvals for each project.