Where there will be more than one user of the facilities, one Authority (from among the Participants) will be the lead Authority. Only the lead Authority will normally enter into the Project Agreement with the SPV. The lead Authority will in turn have appropriate back-to-back contractual arrangements with the other users. Authorities may wish to consider whether the SPV should be required to procure collateral warranties in favour of the other authorities as well as those in favour of the lead Authority.
In most case it is likely that the facilities will be owned by the lead Authority. However, in certain cases they will be owned by the SPV or held by it on a ground lease. In that case the parties will also enter into a lease of the facilities and there will be no title warranty by the lead Authority.
Any intention to move away from these positions should be agreed in advance with the hub Programme Delivery Office in SFT.