CEDURE FOR DRAWING
each occasion that the Authority makes use of the standby facility
all:
report to Government, with full supporting information, the circumstances which have led to the event; and
confirm to Government that all reasonable measures have been and will continue to be taken to reduce to a minimum the amount of the facility actually drawn down.
JUSTMENT AND CONVERSION INTO EQUITY OF
ANDBY FACILITY
Amounts drawn under the Standby Facility shall be repaid on or soon as practicable after the Completion Date by the Authority to
¿vernment to the extent that:
the total project cost as calculated at the Completion Date after taking into account the provisions of paragraph 4(C) is less than the highest project cost taken into account in respect of any drawing of callable equity pursuant to sub-paragraph 2(A)(i) prior to the Completion Date; and/or
the raising of real estate revenues referred to in paragraph 2(D)
plus any drawings of callable equity pursuant to sub-paragraph 2(A)(iii) is greater than as set out in Annex A.
The amount of the standby facility which is outstanding (after ing account of any repayments as mentioned in sub-paragraph (A)) the Completion Date shall be converted at par into equity shares of
→ Authority.
4.
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