Step-Out. (a) The Lender may at any time during the Step-In Period deliver to the Province a Step-Out Notice which specifies the Step-Out Date. (b) Upon expiry of the Step-In Period: (i) the Province will no longer deal with the Lender or the Representative and will deal with the Contractor or the Suitable Substitute Contractor (if applicable); and (ii) the Lender and the Representative are released from all obligations and liabilities under the DBFO Agreement.
Appears in 3 contracts
Sources: Direct Lender Agreement, Direct Lender Agreement, Direct Lender Agreement
Step-Out. (a) The Lender may at any time during the Step-In Period deliver to the Province a Step-Out Notice which specifies the Step-Out Date.
(b) Upon expiry of the Step-In Period:
(i) the Province will no longer deal with the Lender or the Representative and will deal with the Contractor or the Suitable Substitute Contractor (if applicable); and
(ii) the Lender and the Representative are released from all obligations and liabilities under the DBFO DBFM Agreement.
Appears in 3 contracts
Sources: Direct Lender Agreement, Direct Lender Agreement, Direct Lender Agreement
Step-Out. (a) The Lender may at any time during the Step-In Period deliver to the Province a Step-Out Notice which specifies the Step-Out Date.
(b) Upon expiry of the Step-In Period:
(i) the Province will no longer deal with the Lender or the Representative and will deal with the Contractor or the Suitable Substitute Contractor (if applicable)Contractor; and
(ii) the Lender and the Representative are released from all obligations and liabilities under the DBFO Agreement.
Appears in 2 contracts