Discontinuance of Remedies. In case the Secured Party 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 Debtors and the Secured Party shall be restored to their former respective positions and rights hereunder with respect to the property subject to the security interest created under this Agreement.
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Samples: Security Agreement (Nde Environmental Corp), Note, Preferred Stock and Warrant Purchase Agreement (Tanknology Nde International Inc)
Discontinuance of Remedies. In case the Secured Party 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, case the Debtors Debtor and the Secured Party shall be restored to their former respective positions and position with their former rights hereunder with respect to the property subject to Collateral and all rights, remedies and powers of the security interest created under this AgreementSecured Party shall continue as if no such proceedings had been instituted.
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Discontinuance of Remedies. In case the Secured Party 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, then and in every such case, the case Debtors and the Secured Party shall be restored to their former respective positions and rights hereunder with respect to the property Collateral subject to the lien and security interest created under this Agreement.
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Samples: Security Agreement (Environmental Safeguards Inc/Tx)
Discontinuance of Remedies. In case the Secured Party shall have -------------------------- proceeded to enforce any right under this Subsidiary 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, case the Debtors Debtor and the Secured Party shall be restored to their former respective positions and position with their former rights hereunder with respect to the property subject to Collateral and all rights, remedies and powers of the security interest created under this AgreementSecured Party shall continue as if no such proceedings had been instituted.
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