Step-In Notice. 7.1 Upon the issuance of a Lender Notice or a Department Notice, except for an Incurable Developer Default, the Collateral Agent may give a written notice (a “Step-in Notice”) under this Section 7 to the Department at any time during the Cure Period in the case of the issuance of a Department Notice or at any time following the receipt by the Department of a Lender Notice.
Appears in 6 contracts
Samples: Direct Agreement, Direct Agreement, Direct Agreement
