Common use of Restoration of Position Clause in Contracts

Restoration of Position. In case the Agent shall have proceeded to enforce any right under this Mortgage 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 Borrower and the Agent shall be restored to their former positions and rights hereunder with respect to the Mortgaged Property subject to the lien hereof.

Restoration of Position. In case the Collateral Agent shall have proceeded to enforce any right under this Mortgage 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 Borrower Mortgagor and the Collateral Agent shall be restored to their former positions and rights hereunder with respect to the Mortgaged Property Vessel subject to the lien hereof.

Restoration of Position. In case the Agent shall have proceeded to enforce any right under this Mortgage 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 Borrower Mortgagor and the Agent shall be restored to their this former positions and rights hereunder with respect to the Mortgaged Property Premises subject to the lien hereof.

Restoration of Position. In case the Collateral Agent shall have proceeded to enforce any right under this Mortgage 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 Borrower Company and the Collateral Agent shall be restored to their former positions and rights hereunder with respect to the Mortgaged Property subject to the lien hereof.