It is expected that Authorities will appoint external legal and technical advisers and the Project Co and its lenders will also do so. As will be clear from the discussion on costs above, Authorities, when instructing an Authority Change, will be responsible for meeting the costs of Project Co and of its lenders' legal expenses. There is also the potential for delay if negotiations through the Change process become protracted.
It is therefore important to engage at an early stage to identify ways of minimising the time and cost impact of documenting the contractual arrangements in relation to the Change.