Project Co may at any time propose a Modification. If such Modification is approved by the State, Project Co must implement such Modification at its own cost and risk and will not be entitled to make any Claim against the State in connection with such Modification, including in respect of an extension of time or relief from performance.
The State will share in any total net saving arising from the Modification (as calculated in accordance with the Change Compensation Principles Schedule) in a proportion as agreed by the parties, and failing such agreement, the State will be entitled to 50 per cent of such saving.