Common use of Project Co’s Entitlements Upon Occurrence of a Compensation Event Clause in Contracts

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, taking into account the deductions pursuant to Section 8.3(b) above; except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Facility Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. ‌ Subject to Section 8.128.11 (Delay in Notification), if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event;; and (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, except that: (43) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and; (54) no Indirect Losses will be taken into consideration; and (5) the Design-Builder, but not Project Co, will be entitled to any xxxx-ups for overhead, profit or otherwise; (dc) concurrent with the first payment of any compensation by the Authority under Section 8.3(c8.3(b), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (ed) if the Compensation Event occurs prior to any applicable School Service Commencement the Substantial Completion Date, the Project Schedule will be amended and the School Target Service Commencement CPPS Substantial Completion Date and/or the Target SFB Expansion Substantial Completion Date and/or the Target New Tower Substantial Completion Date, the School Longstop Date and the relevant dates for move-in as set out in the School Facility Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedules will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. ‌ Subject to Section 8.12, if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication):duplication):‌ (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Facility Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Project Agreement arising from any delay or failure in performing any of its obligations under or in connection with this AgreementProject Agreement to the extent resulting from the Compensation Event; (b) the Service Availability Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance Reasonably Expected Performance of Project Co, except that any Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Project Agreement or any policy of insurance maintained or required to be maintained under this Project Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Project Agreement resulting from the Compensation Event; and (3) the Service Availability Payments payable to Project Co, taking into account the adjustments pursuant to Section 8.3(b) above; except that: (4) any Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Project Agreement or any policy of insurance maintained or required to be maintained under this Project Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the first payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School Service Commencement the System Completion Date, the Project Schedule will be amended and the School Target Service Commencement Site Completion Dates, Target Ring Completion Dates, Target System Completion Date, the School Outside Ring Completion Dates and Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Expiration Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if If at any time a Compensation Event has occurred and Project Co has given complied with Section 8.2 (Procedures upon the Authority Occurrence of a Supervening Event Notice related thereto:Event): (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, including consideration of Project Co’s past performance in the 36 months immediately preceding the Compensation Event, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivablesdeductibles) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, taking into account the deductions pursuant to Section 8.3(b) above, except that: (4) costs in paragraph (b) of the definition of Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration;. (d) concurrent with the payment of any compensation by the Authority under this Section 8.3(c)8.3, Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. ‌ Subject to Section 8.12, if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, Co. except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration;. (d) concurrent with the first payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Project Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. ‌ Subject to Section 8.128.12 [Delay in Notification], if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1i) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2ii) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3iii) the Service Payments payable to Project Co, taking into account the deductions pursuant to Section 8.3(b)[Project Co's Entitlements Upon Occurrence of a Compensation Event] above; and (iv) Avoidable Costs, except that: (4v) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5vi) no Indirect Losses will be taken into consideration;. (d) concurrent with the first payment of any compensation by the Authority under Section 8.3(c)) [Project Co's Entitlements Upon Occurrence of a Compensation Event], Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.128.11, if at any time a Compensation Event has occurred and Project Co has given the Authority Owner a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the AuthorityOwner) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority Owner will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event;; and (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, except that: (43) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and; (54) no Indirect Losses will be taken into consideration; and (5) Project Co will not be entitled to any mark-ups for overhead, profit or otherwise on any amounts payable by Project Co to the Design-Builder; (dc) concurrent with the payment of any compensation by the Authority Owner under Section 8.3(c8.3(b), Project Co will assign to the Authority Owner its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (ed) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Longstop Date will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.129.12 of this Agreement, if at any time a Compensation Event has occurred and Project Co has given the Authority BC Hydro a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the AuthorityBC Hydro) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority BC Hydro will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1i) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2ii) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3iii) the Service Payments payable to Project Co, taking into account the deductions pursuant to Section 9.3(b) of this Agreement; except that: (4iv) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement Agreement, to the extent not already deducted pursuant to Section 9.3(c)(iii), will be deducted therefrom; and (5v) no Indirect Losses will be taken into consideration; (d) concurrent with the first payment of any compensation by the Authority BC Hydro under Section 8.3(c)9.3(c) of this Agreement, Project Co will assign to the Authority BC Hydro its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and; (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Work Program and Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to completion of the affected School, as well as the Target Service Commencement Date, Phases will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended; and (f) if the Compensation Event occurs after the Expiry Date, the Decommissioning Long Stop Date will be postponed by such time as is reasonable in the circumstance to take account of the effect of the delay caused by the Compensation Event.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if If at any time a Compensation Event has occurred and Project Co has given complied with Section 8.2 (Procedures upon the Authority Occurrence of a Supervening Event Notice related thereto:Event): (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Cooccurred, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivablesdeductibles) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the payment of any compensation by the Authority under this Section 8.3(c)8.3, Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Final Service Commencement Date, the Project Schedule will be amended and the School each relevant Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the First Facility Completion Date or the Service Commencement Date, the Project Schedule will be amended and the School Target First Facility Completion Date, the Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Facility Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, taking into account the deductions pursuant to Section 8.3(b) above; and (4) Avoidable Costs, except that: (45) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (56) no Indirect Losses will be taken into consideration;. (d) concurrent with the first payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Facility Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.128.12 [Delay in Notification], if at any time a Compensation Event has occurred and Project Co has given the Authority Province a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the AuthorityProvince or indemnification of the Province) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority Province will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1i) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2ii) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3iii) the Service Payments payable to Project Co, except that: (4iv) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5v) no Indirect Losses will be taken into consideration;. (d) concurrent with the first payment of any compensation by the Authority Province under Section 8.3(c)) [Project Co's Entitlements Upon Occurrence of a Compensation Event], Project Co will assign to the Authority Province its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Facility Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if at any time a Compensation Event has occurred and Project Co has given the Authority a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Facility Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if If at any time a Compensation Event has occurred and Project Co has given complied with Section 8.2 (Procedures upon the Authority Occurrence of a Supervening Event Notice related thereto:Event): (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, including consideration of Project Co’s past performance over the preceding 3 months, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivablesdeductibles) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, taking into account the deductions pursuant to Section 8.3(b) above; except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the payment of any compensation by the Authority under this Section 8.3(c)8.3, Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.128.12 [Delay in Notification], if at any time a Compensation Event has occurred and Project Co has given the Authority BC Hydro a Supervening Event Notice related thereto:, then to the extent that Project Co incurs a Direct Loss, or for so long as Project Co is delayed or prevented by the Compensation Event from performing any obligation under this Agreement (other than those obligations arising as a result of the Compensation Event): (a) Project Co is relieved from any liability or consequence (consequence, including termination by BC Hydro or the Authority) awarding of NPE Points or Default Points, under this Agreement arising from any such delay or failure in performing any of Project Co’s obligations (other than its obligations mitigation obligations) under or in connection with this Agreement; (b) the Service Availability Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority BC Hydro will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (following, without duplication):: (1) any Direct Losses (Losses, including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) , resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and; (3) the Service Availability Payments payable to Project Co, taking into account the deductions pursuant to Section 8.3(b) [Project Co’s Entitlements Upon the Occurrence of a Compensation Event] above; and (4) Avoidable Costs, except that: (45) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (56) no Indirect Losses will be taken into consideration; (d) concurrent with the first payment of any compensation by the Authority BC Hydro under Section 8.3(c)) [Project Co’s Entitlements Upon the Occurrence of a Compensation Event], Project Co will assign to the Authority BC Hydro its rights to all applicable Insurance Receivables (Receivables, whether or not Project Co has made a claim); and; (e) if the Compensation Event occurs prior to any applicable School Service Commencement the Total Completion Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Service Commencement Longstop Date each Target Commercial Operation Date, the Target Bypass System Completion Date, the date for completion of the Performance Verification Tests, the Target Total Completion Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Total Completion Longstop Date will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended; and (f) Forced Outages arising from such delay or failure in performing any of its obligations under this Agreement shall not be counted for the purposes of Sections 11.1(c) or (d) [BC Hydro’s Step-in Rights] or Sections 12.1(j) or (k) [Project Co Events of Default].

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.128.11, if at any time a Compensation Event has occurred and Project Co has given the Authority PUC a Supervening Event Notice related thereto: (a) Project Co is relieved from any liability or consequence (including termination by the AuthorityPUC) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this AgreementAgreement provided always that such relief shall only apply during the period referred to in Section 8.3(e), subject always to compliance by PUC with its obligations in Sections 8.3(b) and 8.3(c); (b) Monthly Payments accruing during the Service Payments period of the Compensation Event will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Co, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefromoccurred; (c) the Authority PUC will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivables) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments Monthly Payment payable to Project Co, [Note: Deduction regime to be discussed.] except that: (4) Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the first payment of any compensation by the Authority under Section 8.3(c), Project Co will assign to the Authority PUC its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Longstop Date will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.

Project Co’s Entitlements Upon Occurrence of a Compensation Event. Subject to Section 8.12, if If at any time a Compensation Event has occurred and Project Co has given complied with Section 8.2 (Procedures upon the Authority Occurrence of a Supervening Event Notice related thereto:Event): (a) Project Co is relieved from any liability or consequence (including termination by the Authority) under this Agreement arising from any delay or failure in performing any of its obligations under or in connection with this Agreement; (b) the Service Payments will be calculated as if the Compensation Event had not occurred based on the reasonably expected performance of Project Cooccurred, except that Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; (c) the Authority will pay to Project Co compensation in respect of a Compensation Event calculated on the basis that Project Co will be placed in no better or worse position than it would have been in had a Compensation Event not occurred and taking into consideration the following (without duplication): (1) any Direct Losses (including the amount of any applicable insurance deductibles and calculated without netting out Insurance Receivablesdeductibles) resulting from the Compensation Event; (2) any net increase or decrease in the costs of Project Co performing its obligations under this Agreement resulting from the Compensation Event; and (3) the Service Payments payable to Project Co, taking into account the deductions pursuant to Section 8.3(b) above, except that: (4) costs in paragraph (b) of the definition of Avoidable Costs and applicable Insurance Proceeds and insurance proceeds which Project Co would have recovered as a result of the Compensation Event if it had complied with the requirements of this Agreement or any policy of insurance maintained or required to be maintained under this Agreement will be deducted therefrom; and (5) no Indirect Losses will be taken into consideration; (d) concurrent with the payment of any compensation by the Authority under this Section 8.3(c)8.3, Project Co will assign to the Authority its rights to all applicable Insurance Receivables (whether or not Project Co has made a claim); and (e) if the Compensation Event occurs prior to any applicable School the Service Commencement Date, the Project Schedule will be amended and the School Target Service Commencement Date, the School Longstop Date and the dates for move-in as set out in the School Move-in Schedule, in each case as they apply to the affected School, as well as the Target Service Commencement Date, Schedule will be postponed by such time as is reasonable in the circumstances to take account of the effect of the delay caused by the Compensation Event, but the Expiry Date will not be extended.