§1.4  Contract Amendments and Refinancings

Amendments to the Contract (between the Authority and the Contractor) and to the Direct Agreement (between the Authority and the Senior Lenders) may be proposed by the Contractor at the time of a Refinancing. However, it is essential for the Authority to distinguish between those amendments which form an intrinsic part of the Refinancing and so are wholly necessary for the Refinancing to proceed ("Basic Amendments"), on the one hand, and those amendments which are proposed at the time of a Refinancing, but are nonetheless optional for the Authority ("Additional Amendments"), on the other. Examples of each category of amendment as are follows:

More Information