To approve the
•Deed of Amendment to PFI Project Agreement with further amendments requested by the lenders. The further amendments relate to the following issues:
o1.During construction performance and unavailability deductions will not apply to the whole site (as previously).
o2.Unavailability deductions cannot be charged on the new build classroom block and this includes any time post construction; this will not be limited to the defects liability period. Unavailability deductions will apply to the rest of the site; an exception is that if Latent Defects are found in the Hall extension deductions should not apply to Hall. These defects will be rectified by Triton/GFM.
o3.If the Council need to take enforcement action against the builder, the Council would name borrow from the SPV to pursue the builder. This is the Council’s sole remedy and the Council should indemnify SPV from cost, damage or counter challenge from such action
• Contractor collateral warranty to Authority
• Architect Collateral Warranty to Authority
•authorising the Assistant Chief Executive Legal and Democratic or persons authorised by them to seal the variation documents to which the Authority is party, in each case in accordance with its Constitution.