Common use of Re-instatement Clause in Contracts

Re-instatement. If the Banks or the Agent take any steps to exercise any of their rights, powers, remedies or discretions pursuant to the Security Documents and the result shall be adverse to the Banks and/or the Agent, the Borrowers, the Banks and the Agent shall be restored to their former positions as if no such steps had been taken.

Re-instatement. If the Banks or the Agent take takes any steps to exercise any of their its rights, powers, remedies or discretions pursuant to the Security Documents and the result shall be adverse to the Banks and/or the Agent, the Borrowers, Borrower and the Banks and the Agent shall be restored to their former positions as if no such steps had been taken.

Re-instatement. If the Banks or the Agent take takes any steps to exercise any of their its rights, powers, remedies or discretions pursuant to the Security Documents and the result shall be adverse to the Banks and/or the Agent, the Borrowers, Borrowers and the Banks and the Agent shall be restored to their former positions as if no such steps had been taken.