Unfortunately the BJT prospectus does not give much in the way...

Unfortunately the BJT prospectus does not give much in the way of management contract details. If BNB goes into administration it matters only if:
1. BNB is the contracting party with BJT;
2. There is a contract clause whereby BNB going into administration triggers a termination of the management agreement. This clause certainly exists in some management contracts I have seen in the past.

Interestingly the BNB letter to note holders does allude to this "The appointment of an administrator to BNB will trigger consequences under certain joint venture and other contracts to which members of the Babcock & Brown Group are parties"