3.4.5.3  Special circumstances

If a Default Termination Payment (calculated by an independent expert) would result in a greater Termination Payment than the Force Majeure Termination Payment, then Project Co will be entitled to that greater amount. This reflects the principle that Project Co should not be worse off in a neutral circumstance than it would have been in a default situation.

If there is a Default Termination Event subsisting at the time of termination for a Force Majeure Termination Event, the Termination Payment will be calculated on the basis of a Default Termination Payment. This reflects the principle that Project Co should not be able to achieve a better outcome in circumstances of a subsisting Default Termination Event through utilising a termination for a concurrent Force Majeure Event.