TNAG-2413-FCO40-3515-Hong-Kong-Port-and-Airport-Development-Strategy-(PADS)-fina-1992 — Page 52

UVENTICAT

18

unlikely event

of the combination of adverse circumstances

tested in the 'low case'.

32.

this

The

Outline

equity may

Agreement with

the PAA sets out how

be drawn down.

On each occasion

callable

that the AA seeks to draw down such equity it will need to

report

fully to

the

Government's

satisfaction the

circumstances

which have led to

the events concerned and

satisfy

Government

that ail reasonable measures would be

taken

to reduce

to

а

minimum any

further

call on such

equity. In

addition, the close monitoring of costs and

other progress in the project by senior Government officials

appointed to

AA the

Board

will

ensure all appropriate

on the callable equity.

33.

The Outline

enable the Government to

measures are taken to avoid drawing

Agreement provides

that callable

equity may be drawn in the event of -

a)

Increase in Project Cost

originally estimated

-

an increase in the

project

cost

completion of the airport.

prior to

Project cost

includes

the cost

of construction

and the

AA's management and financing costs;