A strong relationship can assist the parties in managing a refinancing event. If both parties are proactive in anticipating refinancing events and plan for them appropriately, and if the private party ensures that it gives enough notice to facilitate consent and potential information requirements, the refinancing has a greater chance of proceeding smoothly than if the parties do not work well together. Nevertheless, the long-term working relationship between the parties can be put at risk if the government party accepts a refinancing that depletes the private party's contingency reserves to an unsustainable level, or one which reduces the amount of equity investment in the project to the extent the private party's interest in providing high performance is diluted.