3.4.5.1  Calculation methodology

The key components of the Force Majeure Termination Payment are:

•  an amount equal to Project Debt; plus

•  amounts owing by the State to Project Co under the Project Documents; plus/minus

•  costs incurred or gains realised on termination of Finance Documents (including close out of derivatives); minus

•  liabilities of Project Co to the State under the Project Documents; minus

•  insurance proceeds, amounts held in bank accounts and other amounts payable to Project Co by third parties; minus

•  debt amounts that were intended to be refinanced by equity.