The PV Standard Project Deeds can be terminated as a result of:

Event	Trigger
Termination for convenience	The State may, at any time, unilaterally elect to terminate the Project Deed for convenience.
Force Majeure Termination Event	The occurrence of a Force Majeure Termination Event (refer to section 2.27.6).
Default Termination Event	If: • a Major Default has not been remedied in accordance with the Project Deed; or • a Default Termination Event occurs.

The Default Termination Events are events which are sufficiently fundamental as to trigger automatic rights for the State to terminate the Project Deed. Subject to project specific considerations, the definition of Default Termination Events is set out in the PV Standard Project Deeds and includes the following:

• total or substantial abandonment of all or any part of the Project Activities;

• an Insolvency Event occurring in relation to any Group Member;

• Insolvency Events occurring in relation to the D&C Contractor or its Parent Guarantor (up to the expiry of the defects liability period in the D&C Contract) or any other Consortium Member, and that party has not been replaced with the State's consent within a specified period;

• breach of the assignment and disposal requirements of the Project Deed;

• breach of the Share Capital Dealing requirements of the Project Deed;

• unremedied Major Default (whether capable or not capable of Cure);

• breach of project specific Abatement thresholds under the Payment Schedule (whether or not Project Co is actually Abated);

• a finance event of default, to ensure the State has appropriate rights in an insolvency scenario given the legislative landscape; and

• any other project specific Default Termination Event specified in a Project Deed.