Common use of Discontinuance of Proceedings Clause in Contracts

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 15 contracts

Samples: Pledge and Security Agreement (Eastern Co), Pledge and Security Agreement (Purple Innovation, Inc.), Pledge and Security Agreement (Lemaitre Vascular Inc)

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Discontinuance of Proceedings. In case the Administrative Agent (on its own behalf, or on behalf of the Lenders) shall have instituted any proceeding to enforce any right, power or remedy under this Agreement the Mortgage by foreclosure, sale, entry or otherwise, and such proceeding proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantorcase, the Administrative Agent and each holder of the Borrower shall, subject to any of the Secured Obligations shall determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this AgreementMortgage Estate, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding proceedings had been instituted.

Appears in 6 contracts

Samples: Credit Agreement (Frontier Airlines Inc /Co/), Credit Agreement (Frontier Airlines Inc /Co/), Credit Agreement (Frontier Airlines Inc /Co/)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorBorrower, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created Liens granted under this AgreementAgreement and the Final Order, and all rights, remedies and powers of the Administrative Agent and the Lenders shall continue as if no such proceeding had been instituted.

Appears in 5 contracts

Samples: Guarantee and Security Agreement (Superior Telecom Inc), Credit and Guarantee Agreement (Lear Corp), Credit and Guarantee Agreement (Sirva Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorAssignor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 4 contracts

Samples: Credit Agreement (Aleris Ohio Management, Inc.), Credit Agreement (Aleris Ohio Management, Inc.), Security Agreement (Aleris Ohio Management, Inc.)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorBorrower, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Assignment Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 3 contracts

Samples: Credit Agreement (Orion Power Holdings Inc), Credit Agreement (Orion Power Holdings Inc), Partnership Interest Pledge Agreement (Orion Power Holdings Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry sale or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorPledgor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 3 contracts

Samples: Credit Agreement (Orion Power Holdings Inc), Credit Agreement (Orion Power Holdings Inc), Partnership Interest Pledge Agreement (Orion Power Holdings Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorPledgor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 3 contracts

Samples: Pledge and Security Agreement (Allied World Assurance Co Holdings, AG), Pledge and Security Agreement (Allied World Assurance Co Holdings, AG), Pledge and Security Agreement (Allied World Assurance Co Holdings LTD)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement Mortgage by foreclosure, sale, sale entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant each Grantor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this AgreementMortgage, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been institutedinstituted (but otherwise without prejudice).

Appears in 2 contracts

Samples: Security Agreement (Delta Air Lines Inc /De/), Security Agreement (Delta Air Lines Inc /De/)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement Mortgage by foreclosure, sale, entry or otherwise, and such proceeding proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, Borrower and Mortgage and Security Agreement the Administrative Agent and each holder of shall, subject to any of the Secured Obligations shall determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this AgreementCollateral, and all rights, remedies and powers of the Borrower or the Administrative Agent shall continue as if no such proceeding proceedings had been instituted.

Appears in 2 contracts

Samples: Mortgage and Security Agreement (United Airlines, Inc.), Mortgage and Security Agreement (United Airlines, Inc.)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorBorrower, the Subsidiary Guarantors, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent and the Lenders shall continue as if no such proceeding had been instituted.

Appears in 2 contracts

Samples: Credit and Guarantee Agreement (Grand Union Co /De/), Credit and Guaranty Agreement (Budget Group Inc)

Discontinuance of Proceedings. In case If the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorPledgor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Pledge Agreement (Rohn Industries Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, Borrower and the Administrative Agent and each holder of shall, subject to any of the Secured Obligations shall determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created extent permitted under this AgreementApplicable Law, and all rights, remedies and powers of the Borrower or the Administrative Agent shall continue as if no such proceeding proceedings had been institutedinstituted to the extent permitted under Applicable Law.

Appears in 1 contract

Samples: Credit Agreement (Era Group Inc.)

Discontinuance of Proceedings. In case the OPNY Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry sale or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the OPNY Administrative Agent, then and in every such case the relevant GrantorPledgor, the OPNY Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the OPNY Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Credit Agreement (Orion Power Holdings Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantoreach Pledgor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Credit Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantoreach Pledgor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Credit Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Revolving Credit Agreement (SeaCube Container Leasing Ltd.)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case case, the relevant GrantorBorrower, the Guarantors, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this AgreementAgreement and the Orders, and all rights, remedies and powers of the Administrative Agent and the Lenders shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Credit and Guarantee Agreement (Impath Inc)

Discontinuance of Proceedings. In case If the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Security Agreement (Rohn Industries Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by 11 280 foreclosure, sale, entry sale or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorPledgor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Partnership Interest Pledge Agreement (Orion Power Holdings Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, saleAsset Sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then then, and in every such case case, the relevant Grantor, the Administrative Agent and each holder the holders of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Security Agreement Collateral subject to the security interest interests created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Security Agreement (Nextera Enterprises Inc)

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Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorBorrower, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created Liens granted under this Agreementthe Loan Documents and the Orders, and all rights, remedies and powers of the Administrative Agent and the Lenders shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Guarantee and Security Agreement (Terra Industries Inc)

Discontinuance of Proceedings. In case the OPNY Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the OPNY Administrative Agent, then and in every such case the relevant Grantor, the OPNY Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Assignment Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the OPNY Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Credit Agreement (Orion Power Holdings Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Security Agreement by foreclosure, sale, entry or otherwise, and such proceeding proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorParticipants, the Lessor Hedging Agreement Counterparties, the Administrative Agent Agent, Lessee and each holder of Lessor shall, subject to any of the Secured Obligations shall determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this AgreementCollateral, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding proceedings had been instituted.. SECURITY AGREEMENT (HGSI)

Appears in 1 contract

Samples: Security Agreement (Human Genome Sciences Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement Mortgage by foreclosure, sale, entry or otherwise, and such proceeding proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, Grantor and the Administrative Agent and each holder of shall, subject to any of the Secured Obligations shall determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this AgreementCollateral, and all rights, remedies and powers of the Grantor or the Administrative Agent shall continue as if no such proceeding proceedings had been instituted.

Appears in 1 contract

Samples: Mortgage and Security Agreement (Jetblue Airways Corp)

Discontinuance of Proceedings. In case the OPNY Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the OPNY Administrative Agent, then and in every such case the relevant GrantorOPMW Borrower, the OPNY Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Assignment Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the OPNY Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Credit Agreement (Orion Power Holdings Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Assignment Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Partnership Interest Pledge Agreement (Orion Power Holdings Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent's, then and in every such case the relevant Grantor, each Grantor and the Administrative Agent and each holder of any of the Secured Obligations shall be restored returned to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent shall continue as if no such proceeding had been institutedinstituted except to the extent such rights, remedies or powers were affected by the proceedings which were discontinued or abandoned.

Appears in 1 contract

Samples: Credit and Guaranty Agreement (Simmons Co /Ga/)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry sale or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorPledgor, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies 20 and powers of the Administrative Agent shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Credit Agreement (Orion Power Holdings Inc)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement Mortgage by foreclosure, sale, entry or otherwise, and such proceeding proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, Borrower and the Administrative Agent and each holder of shall, subject to any of the Secured Obligations shall determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this AgreementCollateral, and all rights, remedies and powers of the Borrower or the Administrative Agent shall continue as if no such proceeding proceedings had been instituted.

Appears in 1 contract

Samples: Mortgage and Security Agreement (United Airlines, Inc.)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding proceedings shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant Grantor, Borrower and the Administrative Agent and each holder of shall, subject to any of the Secured Obligations shall determination in such proceedings, be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this AgreementCollateral, and all rights, remedies and powers of the Borrower or the Administrative Agent shall continue as if no such proceeding proceedings had been instituted.

Appears in 1 contract

Samples: Assignment and Assumption Agreement (Seacor Holdings Inc /New/)

Discontinuance of Proceedings. In case the Administrative Agent shall have instituted any proceeding to enforce any right, power or remedy under this Agreement by foreclosure, sale, entry or otherwise, and such proceeding shall have been discontinued or abandoned for any reason or shall have been determined adversely to the Administrative Agent, then and in every such case the relevant GrantorBorrower, the Administrative Agent and each holder of any of the Secured Obligations shall be restored to their former positions and rights hereunder with respect to the Collateral subject to the security interest created under this Agreement, and all rights, remedies and powers of the Administrative Agent and the Lenders shall continue as if no such proceeding had been instituted.

Appears in 1 contract

Samples: Revolving Credit and Guarantee Agreement (Fpa Medical Management Inc)

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