Undefined variable: node in page_manager_term_view_page()

In page_manager_term_view_page() the following code:

  // Try loading an override plugin.
  foreach (module_implements('page_manager_override') as $module) {
    $call = $module . '_page_manager_override';
    if (($rc = $call('term_view')) && function_exists($rc)) {
      return $rc($node);
    }
  }

$node is never defined in this scope.

How to reproduce:

Create a module that implements hook_page_manager_override.