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

Discontinuance of Proceedings; Position of Parties Restored. If Beneficiary, or Trustee at Beneficiary's election, shall have proceeded to enforce any right or remedy under this Indenture by foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to Beneficiary, then and in every such instance, Borrower and Beneficiary shall, except to the extent modified by such proceedings, be restored to their former positions and rights hereunder, and all rights, powers and remedies of Beneficiary shall continue as if no such proceeding had occurred or had been taken.

Discontinuance of Proceedings; Position of Parties Restored. If the Beneficiary, or the Trustee at the Beneficiary's election, shall have proceeded to enforce any right or remedy under this Indenture by foreclosure, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Beneficiary, then and in every such instancecase, Borrower and Beneficiary shall, except to the extent modified permitted by such proceedingsand consistent with applicable law, the Trustor and the Beneficiary shall be restored to their former positions and rights hereunder, and all rights, powers and remedies of the Beneficiary shall continue as if no such proceeding had occurred or had been taken.