The HSR Financial Resolution comprised of capitol reduction and increase, extension of concession period and other measures (such as returning of superficies rights of station districts, stability mechanism and adjustment of syndicated credit conditions) targeting to resolve the entire HSR financial crisis completely and the case was approved by the Legislative Yuan.
On Jul. 27, 2015, MOTC and THSRC signed the Fourth Revision Agreement of HSR Construction and Operation Pact and also the Termination Agreement of Station District Development Contract based on resolution contents determined by Legislative Yuan. In addition, THSRC and the bank delegation (managed by Bank of Taiwan) held a forum to discuss the First Revision of the Tripartite Pact based on the format of the Second Revision of the Syndicated Credit Contract in which all participating parties attained consensus. The Second Revision of the Syndicated Credit Contract and the First Revision of the Tripartite Pact were both signed on Aug. 3, 2015.
The Second Revision of the Syndicated Credit Contract added articles addressing mortgage cancellation of affiliated business land superficies rights and revised the grace period, duration and the terms and amount of principle amortization in articles 1.1 and 1.2. On the other hand, the First Revision of the Tripartite Pact added articles addressing when the above listed mortgage is cancelled, THRSC shall guarantee deposit of the shortfall to the bank based on the new credit contract.
THSRC and the bank delegation will continue to consult on further adjustments to the syndicated credit contract (such as lowering interest rates and charges) and MOTC (BOHSR) will simultaneously review the Tripartite Pact and complete the second phase revision of the pact.