6Provisions of special arrangements

6 Provisions of special arrangements

6 Provisions of special arrangements

(1) A special arrangement may make provision for or with respect to:

(a) the incurring and performing by the Commission or an affiliate of any obligation or liability, absolute, qualified or contingent, present or future, or

(b) the subordination by the Commission or an affiliate of any of its rights arising under or in respect of any charge, loan or unpaid purchase money or otherwise,

in connection with the financing, erection, construction, development, disposition, sale, purchase, ownership, operation, maintenance or management of the Eraring Power Station, the site (including easements or rights of way appurtenant to the site or any part of the site) or any associated facilities.

(2) A special arrangement may contain absolute and unconditional covenants and promises, and in particular may contain:

(a) absolute and unconditional covenants or promises by the Commission or an affiliate to pay for, or to make payments calculated by reference to, the output, or the prospect of obtaining the output, of the Eraring Power Station, whether or not that output is, at any relevant time, produced or delivered or capable of being produced or delivered, and whether or not the Eraring Power Station is, at any relevant time, erected, in existence, available to be operated or capable of being operated,

(b) absolute and unconditional covenants or promises by the Commission or an affiliate to purchase, and pay for, any one or more of the following, namely, the Eraring Power Station, the site, easements or rights of way appurtenant to the site and any associated facilities in the events or circumstances specified in the special arrangement, and

(c) absolute and unconditional covenants or promises by the Commission or an affiliate to make loans (at interest or otherwise) in the events or circumstances specified in the special arrangement,

or any of them.

(3) A covenant or promise referred to in subsection (2) (a) may contain an obligation to make payment in advance.

(4) Where the Commission, in any special arrangement, makes a covenant or promise to make any payment irrespective of any event or circumstance which otherwise would or might at law terminate, or permit termination of, the arrangement or excuse compliance with, or performance of, or provide a defence to, any proceedings to enforce the covenant or promise, the covenant or promise shall operate and be enforceable in accordance with its terms notwithstanding any provision of the , any other Act or statute or any rule of law to the contrary.