8.1 The Appointed Representative may at any time during the Step-In Period deliver to the Board a Step-Out Notice which shall specify the Step-Out Date.
8.2 On expiry of the Step-In Period:
8.2.1 the Appointed Representative will be released from all of its obligations and liabilities to the Board under the Board Project Documents arising prior to the end of the Step-In Period and rights of the Appointed Representative against the Board will be cancelled;15 and
8.2.2 the Board shall no longer deal with the Appointed Representative and shall deal with Project Co in connection with the Board Project Documents.
8.3 Project Co shall continue to be bound by the terms of the Project Agreement, notwithstanding the occurrence of a Step-In Notice, a Step-In Period, a Step-Out Notice, Step-Out Date, any action by the Agent or Appointed Representative or the Senior Funders and/or any provision of this Agreement.
___________________________________________________________________________
15 The effect of this provision is that rights and obligations which are outstanding from the Step-in Period are preserved and will be reflected in the amount of compensation payable by the Board on early termination of the Project Agreement. It is not therefore necessary for the Board to retain rights of action against the Appointed Representative after the end of the Step-in Period