The Financial Model must be varied in accordance with this clause 53 upon the occurrence of each of the following events:
(a) (Refinancing): achievement of financial close in respect of a Refinancing;
(b) (adjustment to the Service Payment): any permanent adjustment to the Service Payments made in accordance with this Deed;
(c) (Reviewable Services Schedule update): an update to the Reviewable Services Schedule in accordance with clause 30.1(b);
(d) (Augmentation): achievement of Contract Close (as defined in the Augmentation Process Deed) in respect of an Augmentation; and
(e) (agreed events): any other event which Project Co and the State agree should give rise to a variation to the Financial Model,
(each a Model Variation Event).