Common use of Effect of Discontinuance of Proceedings Clause in Contracts

Effect of Discontinuance of Proceedings. In case any action taken by the Trustee on account of any default hereunder shall have been discontinued or abandoned for any reason, then and in every such case the Corporation, the Trustee and the Owners shall be restored to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no such action had been taken.

Effect of Discontinuance of Proceedings. In case any action proceeding taken by the Trustee on account of any default hereunder Default shall have been discontinued or abandoned for any reason, or shall have been determined adversely, then and in every any such case the Corporationcase, the Trustee Authority or Owner and the Owners Trustee shall be restored to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no such action proceeding had been taken.

Effect of Discontinuance of Proceedings. In case If any action proceeding taken by the Trustee or Owners on account of any default hereunder shall have been Event of Default is discontinued or abandoned for any reason, then and in every such case the CorporationIssuer, the Borrower, the Trustee and the Owners shall be restored to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no such action proceeding had been taken.

Effect of Discontinuance of Proceedings. In case If any action proceeding taken by the Trustee or Holders on account of any default hereunder Event of Default shall have been discontinued or abandoned for any reason, then and in every such case case, the CorporationDistrict, the Trustee and the Owners Holders shall be restored to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no such action proceeding had been taken.

Effect of Discontinuance of Proceedings. In case any action proceedings taken by the Trustee on account of any default hereunder Event of Default shall have been discontinued or abandoned for any reason, or shall have been determined adversely to the Trustee, then and in every such case case, the CorporationCompany, the Issuer, the Trustee and the Owners Bondholders shall be restored restored, respectively, to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no in effect prior to the commencement of such action had been takenproceedings.

Effect of Discontinuance of Proceedings. In case any action taken by the Trustee on account of any default hereunder shall have been discontinued or abandoned for any reason, then and in every such case the CorporationAuthority, the Trustee Trustee, any Bond Insurer of record, and the Owners bondholders shall be restored to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no such action had been taken.

Effect of Discontinuance of Proceedings. In case If any action proceeding taken by the Trustee or Owners on account of any default Event of Default hereunder shall have been discontinued or abandoned for any reason, then and in every such case case, the CorporationIssuer, the Trustee and the Owners shall be restored to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no such action proceeding had been taken.

Effect of Discontinuance of Proceedings. In case any action proceeding taken by the Trustee on account of any event of default hereunder shall have been dismissed, discontinued or abandoned for any reason, or shall have been determined adversely, then and in every such case the CorporationAuthority, the Trustee Trustee, and the Owners Bondholders shall be restored restored, respectively, to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no such action proceedings had been taken.

Effect of Discontinuance of Proceedings. In case any action proceeding taken by the Trustee on account of any default hereunder Event of Default shall have been dismissed, discontinued or abandoned for any reason, or shall have been determined adversely, then and in every such case the CorporationCompany, the Trustee and the Owners Noteholders shall be restored restored, respectively, to their former positions and rights hereunder, respectively, and all rights, remedies, powers and duties of the Trustee shall continue as though no such action proceedings had been taken.