In most cases lenders' consent will be required for the Change and any consequent changes to the Project Agreement and/or any Project Document. Lenders will ask their technical adviser to advise them on the technical aspects of the Change and will appoint legal advisers to advise on any amendments to the contractual documentation. The Lenders will look to see the financial effect being appropriate and also consider the risk profile of the project.
It is therefore important to engage at an early stage with lenders and their advisers so that a mutually agreeable way forward can be mapped out as part of the project plan for Change Procedure.