Tax equalisation. Where a payment is to be made to Project Co pursuant to Clauses 46.1 (Force Majeure), 46.3 (Trust Events of Default), 46.4 (Voluntary Termination) or 46.5 (Corrupt Gifts) (a “Compensation Payment”) and Project Co has a Relevant Tax Liability in respect of such payment, then the amount of the Compensation Payment to be made by the Trust to Project Co shall be increased so as to ensure that Project Co is in the same position (after account is taken of the Relevant Tax Liability) as it would have been in had it not been for such Relevant Tax Liability.
Appears in 2 contracts
Sources: Project Agreement, Project Agreement