Discontinuance of Remedies. In case the Collateral Agent shall have proceeded to enforce any right under this Agreement by foreclosure, sale, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely, then and in every such case the Companies, the Collateral Agent and the Secured Creditors shall be restored to their former positions and rights hereunder with respect to the property subject to the lien and security interest created under this Agreement.
Appears in 3 contracts
Samples: Security Agreement, Pledge and Indenture of Trust (World Acceptance Corp), Security Agreement Supplement (World Acceptance Corp), Security Agreement (World Acceptance Corp)
Discontinuance of Remedies. In case the Collateral Agent shall have proceeded to enforce any right under this Agreement by foreclosure, sale, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely, then and in every such case the CompaniesBorrower, the Collateral Agent and the Secured Creditors shall be restored to their former positions and rights hereunder with respect to the property subject to the lien and security interest created under this Agreement.
Appears in 3 contracts
Samples: Security Agreement, Pledge and Indenture of Trust (World Acceptance Corp), Subordinated Security Agreement (World Acceptance Corp), Security Agreement (World Acceptance Corp)
Discontinuance of Remedies. In case the Collateral Agent shall have proceeded to enforce any right under this Security Agreement by foreclosure, sale, entry or otherwise, and such proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely, then then, and in every such case the Companiescase, the Collateral Agent Borrower and the Secured Creditors Agent shall be restored to their former respective positions and rights hereunder with respect to the property subject to the lien and security interest created under this Security Agreement.
Appears in 1 contract
Samples: Security Agreement (Andersons Inc)
