If Project Co has, or is deemed to have, made the election to establish the Handover Escrow Account under clause 47.9(a)(i):
(a) (interest): interest earnt on a credit balance in the Handover Escrow Account must be deposited into the Handover Escrow Account;
(b) (statements): Project Co is entitled, on request, to receive copies of the statements for the Handover Escrow Account;
(c) (drawing on Handover Escrow Account for Project Co's benefit): the State must draw upon the Handover Escrow Account to pay Project Co:
(i) not later than 20 Business Days after the Handover Reviewer issues an updated Outstanding Matters Report in accordance with clause 47.6(d):
A. the estimated cost of the Final Refurbishment Works that have been completed to the satisfaction of the Handover Reviewer (as set out in the then current Outstanding Matters Report or as otherwise agreed or determined in accordance with clause 47.6(e)) since the last Condition Review Date, provided that after drawing such amount the balance of the Handover Escrow Account equals or exceeds the then current Threshold Amount; or
B. if all of the Final Refurbishment Works have been completed prior to the Expiry Date to the satisfaction of the Handover Reviewer (as set out in the then current Outstanding Matters Report or as otherwise agreed or determined in accordance with clause 47.6(e)), the balance of the Handover Escrow Account;
(ii) the estimated cost of the Final Refurbishment Works (as set out in the then current Outstanding Matters Report or as otherwise agreed or determined in accordance with clause 47.6(e)) that the State has relieved Project Co from carrying out in accordance with clause 47.7(a)(ii) (if applicable) provided that after drawing such amount the balance of the Handover Escrow Account equals or exceeds the then current Threshold Amount; and
(iii) if Final Refurbishment Works have not been completed to the satisfaction of the Handover Reviewer (as set out in the then current Outstanding Matters Report or as otherwise agreed or determined in accordance with clause 47.6(e)) as at the Expiry Date, the balance of the Handover Escrow Account less the then current Threshold Amount; and
(d) (drawing on Handover Escrow Account for State's benefit): the State may, in addition to any other remedies under this Deed or at Law, draw upon the Handover Escrow Account for its own benefit and use such money:
(i) to fund or refund any costs incurred by it in carrying out (or engaging others to carry out) any Final Refurbishment Works in accordance with clause 47.8(b)(i); or
(ii) if there is any amount remaining in the Handover Escrow Account after all amounts have been drawn and paid to Project Co in accordance with clause 47.10(c).