1.1 Project Co shall use reasonable endeavours to obtain finance for any Capital Expenditure required in respect of a Qualifying Variation (which term, when used in this Section 2, shall include reference to a proposed Variation which will be a Qualifying Variation when all matters in respect of it have been agreed or determined pursuant to this Agreement) in accordance with the other Sections of this Part 22 of the Schedule from any funds specifically available to it for this purpose under the Funding Agreements in force from time to time.
1.2 In particular, Project Co shall use reasonable endeavours to utilise (subject to their terms) any available stand-by facility or "head room" in the loan facilities (however described) (so far as not committed or reserved to fund cost overruns on the Works or otherwise) which is or becomes available to finance Qualifying Variations during the period up to the Actual Completion Date.
1.3 In the case of a Board Works Variation, Project Co shall not be required to take any steps to obtain finance beyond those contemplated in paragraphs 1.1 and 1.2. If within fifteen (15) Business Days (or such longer period as Project Co may decide which shall not, in any event, exceed [ ] Business Days) of Project Co initiating discussions with the Funders, confirmation has not been obtained from the Funders that they are prepared to enter into their respective credit processes with a view to obtaining credit approval to finance the Board Works Variation, Project Co shall notify the Board's Representative reporting on the response received from the Funders. Within twenty (20) Business Days after receiving such notice the Board shall:
(a) subject to the provisions of Section 1 of this Part 22 of the Schedule, instruct Project Co to proceed with development of the Board Works Variation on the basis that the Board will make payment to Project Co in accordance with paragraph 3 of this Section 2 of Part 22 of the Schedule in respect of the expenditure incurred and any increased cost of funding due to any delay to the Completion Date agreed or determined pursuant to Section 1 of this Part 22 of the Schedule, on a current basis in accordance with the provisions of Section 1 of this Part 22 of the Schedule; or
(b) withdraw the requirement for Project Co to implement the Board Works Variation in accordance with the provisions of Section 1 of this Part 22 of the Schedule.