Recs for rebuilding/losing fat.

Used to be in great shape. Haven't worked out in a while, but not a fatass. Usually have great gains after 3 months or so of working out (Not muscle memory, that I equate more with sports movements, more like I've been more muscular several times, quit working out, lose it, and regain it quickly). Looking to drop 10# of fat or so and regain my usual muscle from working out for a while. Should I adjust diet initially for fat loss, or regain muscle first the first few months before dropping calories to get somewhat cut?