3.4  How to calculate Development Phase Finance Interest and Prolongation Costs during the Development Phase

The Development Phase Finance Interest and Prolongation Costs Project Co is entitled to be paid for a Change Compensation Event that occurs during the Development Phase will be calculated as follows:

DeIC = PC + FinD

where:

PC =  where applicable, Prolongation Costs for each day for which Project Co is granted an extension of time to the Date for Commercial Acceptance for the relevant Change Compensation Event, provided that Prolongation Costs will not be paid for any day which occurs after the earlier of:

(i)  the Date of Commercial Acceptance; and

(ii)  the date of termination of this Deed for any reason.

FinD =  where applicable, the Development Phase Finance Interest for each day for which Project Co is granted an extension of time to the Date for Commercial Acceptance for the relevant Change Compensation Event, provided that Development Phase Finance Interest will not be paid for any day which occurs: 

(i)  earlier than the Original Date for Commercial Acceptance; or

(ii)  after the earlier of:

A.  the Date of Commercial Acceptance; and

B.  the date of termination of this Deed for any reason.