7 Step-Out

7.1  The Appointed Representative will, on the earlier of:

(a)  the date specified in a written notice from the Facility Agent or the Appointed Representative to the Authority (which date shall be at least twenty (20) Business Days after such notice is received by the Authority); and

(b)  the expiry of the Step-In Period

(such date being the "Step-Out Date"), be released from all of its obligations and liabilities to the Authority under the Project Documents arising prior to the Step–Out Date and rights of the Appointed Representative against the Authority will be cancelled.

7.2  The Service Provider shall continue to be bound by the terms of the Project Documents, notwithstanding the occurrence of the Step–Out Date.

7.3  If following the Step-Out Date the Authority is satisfied (acting reasonably) that the circumstances giving rise to the Facility Agent electing to exercise its rights under clause 5 (Representative) have been remedied in full, then for the purposes of termination of the Contract only, and without prejudice to the rights of the Authority to make financial deductions, any Milestone Default Termination Points, Service Provider Termination Points, Adjustments and/or Final Warning Notices that arose prior to the Step-In Date shall be immediately cancelled, provided that where, during the Step-In Period, the Service Provider has substituted or replaced the defaulting Sub-Contractor, or a defaulting sub-contractor to the Sub-Contractor, and has elected to exercise its rights under clause 48.2 (Replacement of Sub-Contractors) of the Contract, the provisions of clause 48.2 (Replacement of Sub-Contractors) of the Contract will apply from the date of substitution or replacement of that Sub-Contractor or sub-contractor to that Sub-Contractor.