3.4.6.1  Calculation methodology

The key components of the Termination for Convenience Payment are:

•  an amount equal to Project Debt; plus

•  a payment to Equity Investors (see section 3.4.6.3 below); plus

•  redundancy payments for Project Co employees; plus

•  Subcontractor Termination Amounts payable under Key Subcontracts (see section (a)(i)2.11.4); 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.