Discontinuance of Proceedings definition

Discontinuance of Proceedings. To the extent permitted by applicable Legal Requirements, in case Trustee or Beneficiary, as the case may be, shall have proceeded to invoke any right, remedy or recourse permitted under the Loan Documents and shall thereafter elect to discontinue or abandon same for any reason, Trustee or Beneficiary, as the case may be, shall have the unqualified right so to do and, in such an event, Grantor, Trustee and Beneficiary shall be restored to their former positions with respect to the Loan Documents, the Mortgaged Property and otherwise, and the rights, remedies, recourses and powers of Trustee and Beneficiary shall continue as if same had never been invoked. _ Application of Proceeds: To the extent permitted by applicable Legal Requirements, all proceeds received from the sale or other dispositions of the Mortgaged Property, including but not limited to, the Rents and other income generated by the holding, leasing, operating or other use of the Mortgaged Property, pursuant to Article 6 of this Deed of Trust shall be applied by the Trustee and/or Beneficiary (or the receiver, if one is appointed), as applicable, to the extent that funds are so available therefrom, in accordance with the following priorities: First: to the costs and expenses of the sale or possession of the Mortgaged Property including the Trustee's or receiver's reasonable fee or commission, if any, title and abstracting charges, reasonable attorneys' fees and a reasonable auctioneer's fee if such expense has been incurred;
Sample 1

Examples of Discontinuance of Proceedings in a sentence

  • Effect of Discontinuance of Proceedings ............................................

  • In the event that the Administrative Agent shall bring any suit to enforce any of its rights hereunder and shall be entitled to judgment, then in such suit the Administrative Agent may recover reasonable expenses, including reasonable attorneys’ fees, and the amounts thereof shall be included in such judgment.4.6 Discontinuance of Proceedings.

  • Discontinuance of Proceedings 12 ARTICLE VI AUTHORITY OF TRUSTEE IN RESPECT OF THE COLLATERAL SECTION 6.01.

  • Section 4.01 Directions from the Controlling Party 40 Section 4.02 Remedies Cumulative 42 Section 4.03 Discontinuance of Proceedings 43 Section 4.04 Right of Certificateholders and the Liquidity Providers to Receive Payments Not to Be Impaired 43 ARTICLE V DUTIES OF THE SUBORDINATION AGENT; AGREEMENTS OF TRUSTEES, ETC.

  • Discontinuance of Proceedings 13 ARTICLE V THE TRUSTEE Section 5.01.

  • Discontinuance of Proceedings by Trustee...............50 Section 8.06.

  • Effect of Discontinuance of Proceedings .............................................

  • Effect of Discontinuance of Proceedings........................................

  • Discontinuance of Proceedings 71 ARTICLE VIII - DAMAGE, DESTRUCTION AND CONDEMNATION 72 Section 8.01.

  • DEFAULT AND FORECLOSURE 4 4.1 Remedies 4 4.2 Separate Sales 5 4.3 Remedies Cumulative, Concurrent and Nonexclusive 5 4.4 Release of and Resort to Collateral 6 4.5 Waiver of Redemption, Notice and Marshalling of Assets 6 4.6 Discontinuance of Proceedings 6 4.7 Application of Proceeds 6 4.8 Occupancy After Foreclosure 6 4.9 Additional Advances and Disbursements; Costs of Enforcement 7 4.10 No Mortgagee in Possession 7 5.

Related to Discontinuance of Proceedings

  • winding-up proceedings means collective proceedings involving realisation of the assets and distribution of the proceeds among the creditors, shareholders or members as appropriate, which involve any intervention by administrative or judicial authorities, including where the collective proceedings are terminated by a composition or other analogous measure, whether or not they are founded on insolvency or are voluntary or compulsory;

  • criminal proceedings means criminal proceedings in relation to which the strict rules of evidence apply;

  • Legal Proceedings means any judicial, administrative or arbitral actions, suits, proceedings (public or private) or governmental proceedings.

  • CCAA Proceedings means the proceedings commenced by the Applicant under the CCAA as contemplated by the Initial Order;

  • Proceedings means all proceedings, actions, claims, suits, investigations and inquiries by or before any arbitrator or Governmental Entity.

  • Action or Proceeding means any action, suit, proceeding, arbitration or investigation by or before any Governmental Authority.

  • Legal Action means and includes any claim, counterclaim, demand, action, suit, counterclaim, arbitration, inquiry, proceeding or investigation before any

  • ADR Proceeding means either an Arbitration or a Mediation.

  • Environmental Proceedings means any judicial or administrative proceedings arising from or in any way associated with any Environmental Requirement.

  • Criminal proceeding means a proceeding instituted by means of the swearing of an information, the laying of a charge or the return of an indictment, before a Court of competent jurisdiction in Canada with jurisdiction to hear and determine the charges referred to therein, alleging or charging that the "Insured" has contravened the provisions of any Provincial or Federal statute, including the Criminal Code, R.S.C. 1985 ch. C-46 as amended, which creates an offence or crime and which provides for conviction thereunder, whether by way of summary conviction or indictment, and as a result of which the "Insured" is liable to be convicted, fined or sentenced to some form of imprisonment or other punishment.

  • Actions or Proceedings means any action, suit, proceeding, arbitration or Governmental or Regulatory Authority investigation or audit.

  • Litigation means any action, suit or proceeding before any court, mediator, arbitrator or Governmental Authority.

  • relevant proceedings means proceedings for contempt of court or proceedings under Schedule 2 to the Anti-social Behaviour, Crime and Policing Act 2014;

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • Insolvency Proceedings means bankruptcy, liquidation or other collective judicial or administrative proceedings, including interim proceedings, in which the assets and affairs of the debtor are subject to control or supervision by a court for the purposes of reorganisation or liquidation;

  • Legal Proceeding means any action, suit, litigation, arbitration, proceeding (including any civil, criminal, administrative, investigative or appellate proceeding), hearing, inquiry, audit, examination or investigation commenced, brought, conducted or heard by or before, or otherwise involving, any court or other Governmental Body or any arbitrator or arbitration panel.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Regulatory Proceeding means a request for information, civil investigative demand, or civil proceeding commenced by service of a complaint or similar proceeding brought by or on behalf of the Federal Trade Commission, Federal Communications Commission, or any federal, state, local or foreign governmental entity in such entity’s regulatory or official capacity in connection with such proceeding.

  • Proceeding means an action, claim, suit, investigation or proceeding (including, without limitation, an informal investigation or partial proceeding, such as a deposition), whether commenced or threatened.