Common use of Discontinuance of Proceedings; Position of Parties Restored Clause in Contracts

Discontinuance of Proceedings; Position of Parties Restored. If Trustee or Collateral Agent or Holders shall have proceeded to enforce any right or remedy under this Deed of Trust by foreclosure, entry or otherwise and such proceedings shall have been discontinued or abandoned for any reason, or such proceedings shall have resulted in a final determination adverse to Collateral Agent or Holders, then and in every such case Grantor 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 proceedings had occurred or had been taken.

Discontinuance of Proceedings; Position of Parties Restored. If Trustee or Collateral Agent or Holders shall have proceeded to enforce any right or remedy under this Deed of Trust Mortgage by foreclosure, entry or otherwise and such proceedings shall have been discontinued or abandoned for any reason, or such proceedings shall have resulted in a final determination adverse to Collateral Agent or Holders, then and in every such case Grantor Mortgagor 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 proceedings had occurred or had been taken.

Discontinuance of Proceedings; Position of Parties Restored. If Trustee or Collateral Agent or Holders shall have proceeded to enforce any right or remedy under this Deed of Trust Mortgage by foreclosure, entry or otherwise and such proceedings shall have been discontinued or abandoned for any reason, or such proceedings shall have resulted in a final determination adverse to Collateral Agent or Holders, then and in every such case Grantor 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 proceedings had occurred or had been taken.