3.2  Satisfaction of Conditions Precedent

(a)  (Conditions Precedent Schedule): The Conditions Precedent Schedule sets out which party is to satisfy each Condition Precedent.

(b)  (Project Co to satisfy): Unless otherwise waived in accordance with clause 3.3(b), Project Co must satisfy each Condition Precedent it is obliged to satisfy in accordance with the Conditions Precedent Schedule by the relevant date specified next to that Condition Precedent in the Conditions Precedent Schedule or such other date as the parties may agree (Condition Precedent Deadline) and must notify the State as each Condition Precedent is satisfied or waived.

(c)  (State to satisfy): Unless otherwise waived in accordance with clause 3.3(b), the State must satisfy each Condition Precedent it is obliged to satisfy in accordance with the Conditions Precedent Schedule by the relevant Condition Precedent Deadline and must notify Project Co as each such Condition Precedent is satisfied or waived.

(d)  (Notice at Financial Close): When the last Condition Precedent to be satisfied has been satisfied or waived, the State must confirm that all Conditions Precedent have been satisfied or waived and the date upon which the last Condition Precedent was satisfied or waived.