3.4.5.2  Payments to Financiers and Equity Investors

The Force Majeure Termination Payment for a Force Majeure Termination Event includes payment of Project Debt, but no specific payment to Equity Investors. This is consistent with the fundamental principle that upon the occurrence of a Force Majeure Event, losses 'lie where they fall'. In the case of the Equity Investors, the consequence of this principle means that they are not compensated for loss of profit or equity returns forgone where the Project is terminated early as a consequence of an external event which is of sufficient severity to constitute a Force Majeure Termination Event.