Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Documents for such Event of Default.
Appears in 16 contracts
Samples: Security Agreement (Polyone Corp), Credit Agreement (Syniverse Holdings Inc), Credit Agreement (Syniverse Holdings Inc)
Discontinuance of Proceedings. If Mortgagee Trustee, Beneficiary or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee Trustee, Beneficiary or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, MortgagorGrantor, Mortgagee Trustee, Beneficiary and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee Trustee, Beneficiary and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee Trustee, Beneficiary or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Documents for such Event of Default.
Appears in 7 contracts
Samples: Credit Agreement (Alliant Techsystems Inc), Security Agreement (Houghton Mifflin Harcourt Co), Credit Agreement (Del Monte Foods Co)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Credit Agreement Documents or any Other First Lien Agreement and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Secured Obligations, the Loan Credit Agreement Documents, any Other First Lien Agreement, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Credit Agreement Documents or any Other First Lien Agreement for such Event of Default.
Appears in 5 contracts
Samples: Intercreditor Agreement (ADT, Inc.), Intercreditor Agreement (Rexnord Corp), Intercreditor Agreement (Hospitality Distribution Inc)
Discontinuance of Proceedings. If Mortgagee if Grantee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Credit Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee Grantee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, MortgagorGrantor, Mortgagee Grantee, and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Credit Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee Grantee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee Grantee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Credit Documents for such Event of Default.
Appears in 4 contracts
Samples: Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Credit Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the any other Secured Parties Party and Mortgagee shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Credit Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the any other Secured Parties Party shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Credit Documents for such Event of Default.
Appears in 4 contracts
Samples: Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc), Security Agreement (Chiquita Brands International Inc)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Security Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Security Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Security Documents for such Event of Default.
Appears in 4 contracts
Samples: Mortgage, Security Agreement (Titan International Inc), Mortgage, Security Agreement (Titan International Inc), Indenture (Titan International Inc)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Secured Obligations, the Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Documents for such Event of Default.
Appears in 4 contracts
Samples: Intercreditor Agreement (Endeavor Group Holdings, Inc.), Intercreditor Agreement (Endeavor Group Holdings, Inc.), Second Lien Collateral Agreement (Endeavor Group Holdings, Inc.)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Credit Agreement Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Secured Obligations, the Loan Credit Agreement Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Credit Agreement Documents for such Event of Default.
Appears in 4 contracts
Samples: Asset Based Revolving Credit Agreement (DS Services of America, Inc.), Credit Agreement (Sprouts Farmers Markets, LLC), Joinder Agreement (Presidio, Inc.)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Financing Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Financing Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Financing Documents for such Event of Default.
Appears in 3 contracts
Samples: Security Agreement (Alliance Holdings GP, L.P.), Security Agreement (Alliance Resource Partners Lp), Security Agreement
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Credit Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Secured Obligations, the Loan Credit Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Credit Documents for such Event of Default.
Appears in 2 contracts
Samples: Joinder Agreement (Verso Corp), Contribution Agreement (Verso Paper Holdings LLC)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Note Documents, the Notes Indenture Documents or any Other First Lien Agreement and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Secured Obligations, the Loan Note Documents, the Notes Indenture Documents, any Other First Lien Agreement, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Note Documents, the Notes Indenture Documents or any Other First Lien Agreement for such Event of Default.
Appears in 2 contracts
Samples: Indenture (Fresh Market Holdings, Inc.), Collateral Agreement (Fresh Market Holdings, Inc.)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Credit Agreement Documents, the Indenture Documents or any Specified Other First Lien Agreement and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Secured Obligations, the Loan Credit Agreement Documents, the Indenture Documents, any Specified Other First Lien Agreement, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Credit Agreement Documents, the Indenture Documents or any Specified Other First Lien Agreement for such Event of Default.
Appears in 2 contracts
Samples: Indenture (Mallinckrodt PLC), Mortgage, Security Agreement (Mallinckrodt PLC)
Discontinuance of Proceedings. If Mortgagee Trustee, Beneficiary or any other Secured Lender Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee Trustee, Beneficiary or such other Secured Lender Party, as the case may be, shall have the unqualified right to do so and, in such an event, MortgagorGrantor, Mortgagee Trustee, Beneficiary and the other Secured Lender Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee Trustee, Beneficiary and the other Secured Lender Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee Trustee, Beneficiary or any other Secured Lender Party thereafter to exercise any right, remedy or recourse under the Loan Documents for such Event of Default.
Appears in 2 contracts
Samples: Credit Agreement (Headwaters Inc), Credit Agreement (Headwaters Inc)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the any applicable Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the other applicable Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the any applicable Loan Documents for such Event of Default.
Appears in 2 contracts
Samples: First Lien Credit Agreement (CAESARS ENTERTAINMENT Corp), Credit Agreement (Vici Properties Inc.)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Financing Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Financing Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under any of the Loan Financing Documents for such Event of Default.
Appears in 2 contracts
Samples: Credit Agreement (Dynegy Inc.), Credit Agreement (Dynegy Inc.)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the any applicable Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the any applicable Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the any applicable Loan Documents for such Event of Default.
Appears in 1 contract
Samples: Intercreditor Agreement (CAESARS ENTERTAINMENT Corp)
Discontinuance of Proceedings. If Mortgagee Trustee, Beneficiary or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted hereunder or under the Loan Related Documents or Base Indenture and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee Trustee, Beneficiary or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, MortgagorGrantor, Mortgagee Trustee, Beneficiary and the other Secured Parties shall be restored to their former positions with respect to the IndebtednessObligations, this Mortgage, the ObligationsRelated Documents, the Loan DocumentsBase Indenture, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee Trustee, Beneficiary and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee Trustee, Beneficiary or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Related Documents for such Event of Default.
Appears in 1 contract
Samples: Base Indenture (Wendy's Co)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Credit Agreement Documents, the Notes Indenture Documents or any Other First Lien Agreement and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Secured Obligations, the Loan Credit Agreement Documents, the Notes Indenture Documents, any Other First Lien Agreement, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Credit Agreement Documents, the Notes Indenture Documents or any Other First Lien Agreement for such Event of Default.
Appears in 1 contract
Samples: Joinder Agreement (McGraw-Hill Interamericana, Inc.)
Discontinuance of Proceedings. If Mortgagee Trustee, Beneficiary or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Collateral Agency Agreement or any of the other Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee Trustee, Beneficiary or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, MortgagorGrantor, Mortgagee Trustee, Beneficiary and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Collateral Agency Agreement, the Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee Trustee, Beneficiary and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee Trustee, Beneficiary or any other Secured Party thereafter to exercise any right, remedy or recourse under the Collateral Agency Agreement or any of the other Loan Documents for such Event of Default.
Appears in 1 contract
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Credit Agreement, the Collateral Trust Agreement or the other Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Collateral Trust Agreement, the other Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Collateral Trust Agreement or any of the other Loan Documents for such Event of Default.. Form of Mortgage
Appears in 1 contract
Samples: Credit Agreement (Dynegy Inc.)
Discontinuance of Proceedings. If Mortgagee Beneficiary or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted hereunder or under the Loan Related Documents or Base Indenture and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee Beneficiary or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, MortgagorGrantor, Mortgagee Beneficiary and the other Secured Parties shall be restored to their former positions with respect to the IndebtednessObligations, this Mortgage, the ObligationsRelated Documents, the Loan DocumentsBase Indenture, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee Beneficiary and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee Beneficiary or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Related Documents for such Event of Default.
Appears in 1 contract
Samples: Base Indenture (Wendy's Co)
Discontinuance of Proceedings. If Mortgagee or any other Priority Lien Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Priority Lien Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Priority Lien Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Priority Lien Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Priority Lien Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Priority Lien Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Priority Lien Secured Party thereafter to exercise any right, remedy or recourse under the Loan Priority Lien Documents for such Event of Default.
Appears in 1 contract
Samples: Assignment and Assumption Agreement (Foresight Energy LP)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Credit Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Credit Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Credit Documents for such Event of Default.
Appears in 1 contract
Discontinuance of Proceedings. If Mortgagee Trustee, Beneficiary or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted hereunder or under the Loan Related Documents or Base Indenture and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee Trustee, Beneficiary or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, MortgagorGrantor, Mortgagee Trustee, Beneficiary and the other Secured Parties shall be restored to their former positions with respect to the IndebtednessObligations, this Deed of Trust, the ObligationsRelated Documents, the Loan DocumentsBase Indenture, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee Trustee, Beneficiary and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee Trustee, Beneficiary or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Related Documents for such Event of Default.
Appears in 1 contract
Samples: Base Indenture (DineEquity, Inc)
Discontinuance of Proceedings. If Mortgagee or any other Secured Party shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or abandon it for any reason, Mortgagee or such other Secured Party, as the case may be, shall have the unqualified right to do so and, in such an event, Mortgagor, Mortgagee and the other Secured Parties shall be restored to their former positions with respect to the Indebtedness, the Obligations, the Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Mortgagee and the other Secured Parties shall continue as if the right, remedy or recourse had never been invoked, but no such discontinuance or abandonment shall waive any Event of Default which may then exist or the right of Mortgagee or any other Secured Party thereafter to exercise any right, remedy or recourse under the Loan Documents for such Event of Default.
Appears in 1 contract
