Common use of Restoration of Positions Clause in Contracts

Restoration of Positions. If the Collateral Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Agreement by foreclosure, entry or otherwise and such proceeding has been discontinued or abandoned for any reason or has been determined adversely to the Collateral Trustee or to such Holder, then and in every such case the Grantors, the Collateral Trustee and the Holders shall, subject to any determination in such proceeding, be restored to their former positions hereunder, and thereafter all rights and remedies of the Collateral Trustee and the Holders shall continue as though no such proceeding had been instituted.

Restoration of Positions. If the Collateral Trustee or any Holder has instituted any proceeding to enforce any right or remedy under this Agreement by foreclosure, entry or otherwise and such proceeding has been discontinued or abandoned for any reason or has been determined adversely to the Collateral Trustee or to such HolderBondholder, then and in every such case the GrantorsCompany, the Collateral Trustee and the Holders shall, subject to any determination in such proceeding, be restored to their former positions hereunder, and thereafter all rights and remedies of the Collateral Trustee and the Holders shall continue as though no such proceeding had been instituted.