Re-instatement. If any Finance Party takes any steps to exercise any of its rights, powers, remedies or discretions pursuant to the Security Documents and the result shall be adverse to the Finance Parties, the Borrower and the Finance Parties shall be restored to their former positions as if no such steps had been taken.
Appears in 5 contracts
Samples: Loan Facility Agreement, Loan Facility Agreement (Teekay Shipping Corp), Gulfmark Offshore Inc
Re-instatement. If any Finance Party takes any steps to exercise any of its rights, powers, remedies or discretions pursuant to the Security Documents and the result shall be adverse to the Finance Parties, the Borrower Borrowers and the Finance Parties shall be restored to their former positions as if no such steps had been taken.
Appears in 4 contracts
Samples: www.lw.com, Agreement (Teekay LNG Partners L.P.), Agreement (Teekay LNG Partners L.P.)
Re-instatement. If any Finance Party takes any steps to exercise any of its rights, powers, remedies or discretions pursuant to the Security Documents and the result shall be adverse to the Finance Parties, the Borrower Borrower, the Guarantor and the Finance Parties shall be restored to their former positions as if no such steps had been taken.
Appears in 2 contracts
Samples: Stolt Comex (Stolt Offshore S A), Loan Facility Agreement (Stolt Comex Seaway S A)
Re-instatement. If any Finance Party takes any steps to exercise any of its rights, powers, remedies or discretions pursuant to the Security Documents and the result shall be adverse to the Finance Parties, the Borrower Borrower, the Guarantors and the Finance Parties shall be restored to their former positions as if no such steps had been taken.
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