Reinstatement of Rights. If Agent shall have proceeded to enforce any right under this Loan Agreement or any other Transaction Document 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 (unless otherwise ordered by a court of competent jurisdiction), Agent shall be restored to its former position and its rights hereunder with respect to the property subject to the security interest created under this Loan Agreement shall be reinstated.
Appears in 10 contracts
Samples: Loan and Security Agreement (Zipcar Inc), Loan and Security Agreement (Aquantia Corp), Loan and Security Agreement (Mascoma Corp)
Reinstatement of Rights. If Agent (or a Lender with Agent’s written consent) shall have proceeded to enforce any right under this Loan Agreement or any other Transaction Loan Document 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 (unless otherwise ordered by a court of competent jurisdiction), Agent and Lenders shall be restored to its their former position and its rights hereunder with respect to the property Property subject to the security interest created under this Loan Agreement shall be reinstatedAgreement.
Appears in 8 contracts
Samples: Loan and Security Agreement (Tempo Automation Holdings, Inc.), Loan and Security Agreement (Vertex Energy Inc.), Loan and Security Agreement (Urgent.ly Inc.)
Reinstatement of Rights. If Agent or any Lender shall have proceeded to enforce any right under this Loan Agreement or any other Transaction Document 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 (unless otherwise ordered by a court of competent jurisdiction), Agent and each Lender shall be restored to its former position and its rights hereunder with respect to the property subject to the security interest created under this Loan Agreement shall be reinstated. Section 10.06.
Appears in 1 contract
Samples: Loan and Security Agreement (Sterling Construction Co Inc)
Reinstatement of Rights. If Agent shall have proceeded to enforce any right under this Loan Agreement or any other Transaction Document 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 (unless otherwise ordered by a court of competent jurisdiction), Agent shall be restored to its former position and its rights hereunder with respect to the property subject to the security interest created under this Loan Agreement shall be reinstatedAgreement.
Appears in 1 contract
Samples: Equipment Loan and Security Agreement (Intermix Media, Inc.)
