By the Expiry Date, Project Co must:
(a) (Project Assets): have handed over to the State or any Project Successor, the Project Assets and the Project Area (including all rights, title and interest in them to the extent not already transferred to the State), free from any encumbrance created by or on behalf of Project Co and if Handover of the Project Assets is to occur:
(i) (prior to Commercial Acceptance): prior to the Date of Commercial Acceptance, in the condition that the Project Assets and the Project Area would be in if Project Co had complied with all of its obligations in connection with the Project in accordance with the requirements of this Deed having regard to the time and circumstances of the termination; or
(ii) (on or after Commercial Acceptance): on or after the Date of Commercial Acceptance, the condition that the Project Assets and the Project Area would be in:
A. if Project Co had complied with all of its obligations in connection with the Project under, or reasonably inferred from, this Deed at the time of Handover and having regard to the time and circumstances of the termination; and
B. such that if any Project Asset or any part of a Project Asset is a Warranted Asset or otherwise has a residual life specified in the PSDR, that Project Asset or the relevant part of the Project Asset will be Fit For Purpose by reference to the purposes, functions, uses and requirements referred to in clauses 5.5(a) and 5.5(b) (without any major maintenance or refurbishment works) for its Warranted Life or specified residual life (as applicable) that continues beyond the Expiry Date, provided that the Project Asset or relevant part of the Project Asset is operated and maintained after the Expiry Date:
1) in accordance with Best Operational Practices;
2) such that any damage to the relevant Project Asset or component of the relevant Project Asset occurring after the Expiry Date (as applicable) is promptly rectified in accordance with Best Industry Practices;
3) in accordance with the Asset Management Plan; and
4) in accordance with all Laws and Standards then applicable; and
(b) (Returned Assets): for any Returned Asset or any part of a Returned Asset that is a Warranted Asset, ensure that Returned Asset or the relevant part of the Returned Asset is Fit For Purpose by reference to the purposes, functions, uses and requirements referred to in clauses 5.5(c)(i) or 5.5(d)(i) as applicable (without any major maintenance or refurbishment works) for its Warranted Life, provided that the Returned Asset is operated and maintained following the relevant Date of Returned Works Acceptance for that Returned Asset:
(i) in accordance with Best Operational Practices;
(ii) such that any damage to the relevant Returned Asset or any part of the Returned Asset occurring after the Date of Returned Works Acceptance for that Returned Asset is promptly rectified in accordance with Best Industry Practices; and
(iii) in accordance with all Laws and Standards then applicable,
(the Handover Condition).
[Note: Handover Condition definition to be considered on a project specific basis.]