Discontinuance of Proceedings. In case the Mortgagee shall have instituted any proceeding to enforce any right, power or remedy under this Trust 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 Mortgagee, then and in every such case the Owner and the Mortgagee shall, subject to any determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral, and all rights, remedies and powers of the Owner or the Mortgagee shall continue as if no such proceedings had been instituted.
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Samples: Note Purchase Agreement (United Airlines, Inc.), Note Purchase Agreement (Sun Country Airlines Holdings, Inc.), Note Purchase Agreement (Hawaiian Holdings Inc)
Discontinuance of Proceedings. In case the Mortgagee shall have instituted any proceeding to enforce any right, power or remedy under this Trust 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 Mortgagee, then and in every such case the Owner and Trustee, the Mortgagee and Lessee shall, subject to any determination in such proceedings, be restored to their former positions and rights hereunder with respect to the CollateralMortgaged Property, and all rights, remedies and powers of the Owner or Trustee, the Mortgagee or Lessee shall continue as if no such proceedings had been instituted.
Appears in 38 contracts
Samples: Trust Indenture and Mortgage 646 (PLM Equipment Growth Fund Vi), Trust Indenture and Mortgage 648 (PLM Equipment Growth Fund Vi), Trust Indenture and Mortgage 648 (PLM Equipment Growth Fund V)
Discontinuance of Proceedings. In case the If Mortgagee shall have instituted institutes any proceeding to enforce any right, power power, or remedy under this Trust Indenture Mortgage by foreclosure, entry entry, or otherwise, and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Mortgagee, then and in every such case the Owner Trustee, Mortgagee, and the Mortgagee shall, Lessee shall (subject to any determination in such proceedings, ) be restored to their former positions and rights hereunder with respect to the CollateralMortgaged Property, and all rights, remedies remedies, and powers of the Owner Trustee, Mortgagee, or the Mortgagee Lessee shall continue as if no such proceedings had been instituted.
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