Discontinuance of Proceedings and Restoration of the Parties. In case Collateral Agent shall have proceeded to enforce any right, power or remedy under this Instrument by foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to Collateral Agent, then and in every such case Obligor and Collateral Agent shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of Collateral Agent shall continue as if no such proceeding had been taken.
Appears in 3 contracts
Samples: Credit Agreement (JDN Realty Corp), Mortgage, Security Agreement and Fixture Financing Statement (Crown Crafts Inc), Credit Agreement (JDN Realty Corp)
Discontinuance of Proceedings and Restoration of the Parties. In case Trustee or Collateral Agent shall have proceeded to enforce any right, power or remedy under this Instrument by foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to Collateral Agent, then and in every such case Obligor and Collateral Agent shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of Collateral Agent shall continue as if no such proceeding had been taken.
Appears in 2 contracts
Samples: Credit Agreement (Gerber Scientific Inc), Credit Agreement (Guilford Mills Inc)
Discontinuance of Proceedings and Restoration of the Parties. In case Collateral Agent shall have proceeded to enforce any right, power or remedy under this Instrument by foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to Collateral Agent, then and in every such case Obligor and Collateral Agent shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of Collateral Agent shall continue as if no such proceeding had been taken.positions
Appears in 1 contract
Samples: Mortgage, Security Agreement and Fixture Financing Statement (Crown Crafts Inc)
