H. Consider the associated private partners' roles (including the lenders' role) in a renegotiation

Though the Project Company will typically be the key party involved in renegotiating with the Procuring Authority, other private partners will also have interests and likely veto rights with respect to material PPP contract amendments. Such parties include lenders and key contractors in certain circumstances. The contractual review to assess a renegotiation should therefore include a review of any relevant direct deeds the Procuring Authority has entered into with the lenders and/or key contractors (such as the construction contractor). For example, where the Project Company is required to incur additional capital expenditure, that expenditure will need to be financed.