(a) (Risk likely to become Uninsurable Risk): If any risk becomes or is likely to become an Uninsurable Risk, then:
(i) Project Co must notify the State within 5 Business Days after becoming aware that the risk has become or is likely during the Term to become an Uninsurable Risk;
(ii) the State must meet with Project Co within 5 Business Days after receipt of Project Co's notice to discuss the risk, including whether in fact the risk is an Uninsurable Risk; and
(iii) if, within 5 Business Days after receipt of Project Co's notice, the parties have not reached agreement on whether the risk is an Uninsurable Risk, either party may refer the matter to expert determination in accordance with clause 48.1.
(b) (Parties to discuss management of an Uninsurable Risk): If the parties agree that a risk is an Uninsurable Risk (or in the absence of agreement, it is determined under clause 49 that a risk is an Uninsurable Risk), the parties must meet further to discuss the means by which the risk should be managed.
(c) (Uninsurable Risk): If any risk is agreed or determined to be an Uninsurable Risk in accordance with clause 44.13(a) or clause 49, unless the parties agree otherwise in accordance with clause 44.13(b), within 10 Business Days of either party notifying the other of the further meeting required in accordance with clause 44.13(b), each Service Payment will be adjusted by deducting the amount corresponding to the proportion of the total insurance premium (inclusive of brokerage and all taxes, levies and other statutory charges) for any Insurance that was payable by Project Co for the insurance of that risk before it became an Uninsurable Risk.
(d) (No longer an Uninsurable Risk): If the risk ceases to be an Uninsurable Risk and Project Co takes out insurance to cover the risk in accordance with clause 44.14, then, if the State has made deductions from the Service Payment in accordance with clause 44.13(c), the Service Payment will be increased by the amount corresponding to the proportion of the total insurance premium (inclusive of brokerage and all taxes, levies and other statutory charges) payable for insuring the risk, provided however that the increase must not exceed the amount which was deducted from the Service Payment when the risk became an Uninsurable Risk.