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, Secured Reducing Revolving Loan Facility Agreement (Gulfmark Offshore Inc), Secured Reducing Revolving Loan Facility Agreement (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: Secured Reducing Revolving Loan Facility Agreement, Loan Agreement (Teekay LNG Partners L.P.), Secured Reducing Revolving Loan Facility Agreement (Teekay Shipping Corp)
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: Deed of Amendment and Restatement (Stolt Offshore S A), Loan 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.
Appears in 1 contract
