Common use of Discontinuance of Actions Clause in Contracts

Discontinuance of Actions. If Mortgagee shall enforce any right pursuant to this Mortgage by foreclosure, sale, entry or otherwise and discontinue or abandon such enforcement for any reason or any such proceedings shall have been determined adversely, then, in each such case, Mortgagor and Mortgagee shall be restored to their former positions and rights hereunder, and the Secured Property shall remain subject to the lien of this Mortgage.

Appears in 4 contracts

Samples: , Security Agreement and Fixture Filing (Dividend Capital Diversified Property Fund Inc.), Rents and Security Agreement (Industrial Income Trust Inc.), Security Agreement and Fixture Filing (Dividend Capital Total Realty Trust Inc.)

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Discontinuance of Actions. If In case Mortgagee shall have proceeded to ------------------------- enforce any right pursuant to under this Mortgage by foreclosure, sale, sale or entry or otherwise otherwise, and discontinue such proceedings shall have been discontinued or abandon such enforcement abandoned for any reason or any such proceedings shall have been determined adversely, then, in each every such case, Mortgagor and Mortgagee shall be restored to their former positions and rights hereunder, and hereunder with respect to the Secured Property which shall remain subject to the lien and security interest of this Mortgage.

Appears in 1 contract

Samples: And Security Agreement (Overseas Partners LTD)

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