43.12  Benefits held on trust

(a)  (Benefit of indemnities): The State holds on trust for each State Associate, each Interface Party (other than any Direct Interface Party)and each other Indemnified IP Person, the benefit of:

(i)  each indemnity, release, limitation of Liability and exclusion of Liability given by Project Co under this Deed in favour of the relevant State Associate, Interface Party or any other Indemnified IP Person; and

(ii)  each right in this Deed to the extent that such right is expressly stated to be for the benefit of the State, a State Associate, any Interface Party (other than any Direct Interface Party) or any other Indemnified IP Person.

(b)  (Project Co acknowledgement): Project Co acknowledges the existence of such trusts and consents to the State exercising rights in relation to, or otherwise enforcing such indemnities, releases, limitations and rights on behalf of the State Associates, any Interface Party (other than any Direct Interface Party) and each other Indemnified IP Person.

(c)  (Amendment): The parties agree that the State does not require the consent of any State Associate, any Interface Party or any other Indemnified IP Person to amend or waive any provision of any State Project Document.