Common use of Section 509 Restoration of Rights and Remedies Clause in Contracts

Section 509 Restoration of Rights and Remedies. If the Trustee or any Holder of a Security or coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case the Company, the Subsidiary Guarantors, the Trustee and the Holders of Securities and coupons shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

Appears in 3 contracts

Samples: Indenture (Quest Diagnostics Clinical Laboratories Inc /De/), Indenture (Quest Diagnostics Inc), Indenture (Quest Diagnostics Clinical Laboratories Inc /De/)

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Section 509 Restoration of Rights and Remedies. If the Trustee or any Holder of a Security or coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case case, the Company, the Subsidiary GuarantorsGuarantor, if applicable, the Trustee and the Holders of Securities and coupons shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

Appears in 2 contracts

Samples: Indenture (PennyMac Mortgage Investment Trust), Indenture (PennyMac Corp.)

Section 509 Restoration of Rights and Remedies. If the Trustee or any Holder of a Security or coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case case, subject to any determination in such proceeding, the Company, the Subsidiary Guarantors, the Trustee and the Holders of Securities and coupons shall, subject to any determination in such proceeding, shall be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

Appears in 2 contracts

Samples: Subordinated Debt Indenture (Dynegy Capital Trust Iii), Senior Debt Indenture (Dynegy Capital Trust Iii)

Section 509 Restoration of Rights and Remedies. If the Trustee or any Holder of a Security or coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case case, the Company, the Subsidiary Guarantors, if applicable, the Trustee and the Holders of Securities and coupons shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

Appears in 1 contract

Samples: Indenture (Sutherland Asset Management Corp)

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Section 509 Restoration of Rights and Remedies. If the Trustee or any ---------------------------------- Holder of a Security or coupon has instituted any proceeding to enforce any right or remedy under this Indenture and such proceeding has been discontinued or abandoned for any reason, or has been determined adversely to the Trustee or to such Holder, then and in every such case case, the Company, the Subsidiary Guarantors, the Trustee and the Holders of Securities and coupons shall, subject to any determination in such proceeding, be restored severally and respectively to their former positions hereunder and thereafter all rights and remedies of the Trustee and the Holders shall continue as though no such proceeding had been instituted.

Appears in 1 contract

Samples: Indenture (Frontier Corp /Ny/)

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