Termination of Proceedings. In case any proceedings taken by any one or more Bond Owners on account of any Event of Default shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Bond Owners, then in every such case the District, and the Bond Owners, subject to any determination in such proceedings, shall be restored to their former positions and rights hereunder, severally and respectively, and all rights, remedies, powers and duties of the City, and the Bond Owners shall continue as though no such proceedings had been taken.
Appears in 3 contracts
Samples: Fiscal Agent Agreement, Commitment Agreement and Purchase Contract, Fiscal Agent Agreement
Termination of Proceedings. In case If any proceedings taken by the Trustee or any one or more Bond Owners on account of any Event of Default shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Trustee or the Bond Owners, then in every such case the DistrictAuthority, the Trustee and the Bond Owners, subject to any determination in such proceedings, shall be restored to their former positions and rights hereunder, severally and respectively, and all rights, remedies, powers and duties of the CityAuthority, the Trustee and the Bond Owners shall continue as though no such proceedings had been taken.
Appears in 2 contracts
Samples: Master Indenture, Indenture
