The termination clauses seek to codify the termination rights and entitlements of each party and exclude common law rights to terminate and seek damages.
The State is only entitled to terminate, rescind or accept a repudiation of the Project Deed in accordance with the termination rights under the Project Deed.
Other than in relation to a Force Majeure Termination Event, Project Co has no right to terminate any State Project Document. The rationale for this is that:
• there are a very limited number of fundamental obligations the State has under any State Project Document; and
• failure of the State to meet its obligations under a State Project Document are Change Compensation Events and Project Co's rights to sue the State for damages for breach of the State Project Documents are excluded only in limited and specified circumstances.