Substantive Consolidation definition

Substantive Consolidation means the consolidation of the assets and liabilities of the Subsidiary Debtors’ Estates into the assets and liabilities of Quirky in the manner further set forth in this Plan, including without limitation Section 5.01.

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Substantive Consolidation means the consolidation of the assets and liabilities of SITO Mobile Solutions, Inc., SITO Mobile, Ltd., and SITO Mobile R&D IP, LLC for the purposes of this Plan and these bankruptcy proceedings, but for no other purpose.

Substantive Consolidation opinion of counsel for Originator with respect to the transactions contemplated by the Receivables Sale Agreement.

Examples of Substantive Consolidation in a sentence

• If required by the applicable Rating Agencies, the Borrower shall also deliver or cause to be delivered a Substantive Consolidation Opinion with respect to the Successor Entity in form and substance satisfactory to the Lender and the applicable Rating Agencies.

• Our opinion herein is expressly predicated on the assumption that a party in interest or Lender or other holder(s) of the Loan would, within any and all applicable time limitations set forth in the Bankruptcy Code, the Federal Rules of Bankruptcy Procedure, and any applicable local rules, (a) object to any written motion or other formal proceeding in Bankruptcy Court seeking a Substantive Consolidation, and (b) competently brief and argue such objection.

• With respect to potential harm to the Lender or other holder of the Loan from a Substantive Consolidation, we acknowledge that bankruptcy courts have ordered substantive consolidation over the objection of a fully-secured creditor on the ground that such a creditor is not harmed by substantive consolidation.

• If required by the applicable Rating Agencies, MHP shall also deliver or cause to be delivered a Substantive Consolidation Opinion with respect to the Successor Entity in form and substance satisfactory to the Lender and the applicable Rating Agencies.

• Though Lender is secured, it would foreseeably be harmed by Substantive Consolidation of Borrower with a Relevant Entity.

• Consolidation Motion, the Thaxton Debtors' Substantive Consolidation Motion, and all other req▇▇▇▇▇ ▇ade by either the Thaxton Debtors or the Committee seeking similar relief, including t▇▇ ▇▇▇▇est made by the Thaxton Debtors through the plan of reorganization filed by certain ▇▇▇▇▇▇▇ Debtors on June 17, 2004 and the amended plan of reorganizat▇▇▇ ▇▇▇ed by certain Thaxton Debtors on September 9, 2004.

• Unconditional Guarantee of the Subordinated Guarantor; Waiver of Substantive Consolidation by Noteholders; etc.86 SECTION 11.03.

• Substantive Consolidation The Plan does not provide for the substantive consolidation of the Holdings Debtors and the Services Debtors.

• The Court's approval of the Substantive Consolidation Motion is a condition precedent to the confirmation of the Plan.

• Thus, it is clear that Substantive Consolidation, with its attendant imposition on Borrower of liabilities external to the Property, would frustrate one of the primary considerations of Lender in making the Loan.

More Definitions of Substantive Consolidation

Substantive Consolidation means the combining of the Estates, for purposes of the Plan and the distributions

Substantive Consolidation means the entry of any order by a ------------------------- court of competent jurisdiction by which the assets and liabilities of Holdings and the Borrower are treated on a consolidated basis, whether under Section 105 of the Bankruptcy Code, 11 U.S.C. (S)105, or under any other applicable bankruptcy, insolvency or other law now or hereinafter in effect. Capitalized terms used but otherwise not defined herein shall have the same meaning as in the Credit Agreement.

Substantive Consolidation means any element of a confirmed chapter 11 plan in the

Substantive Consolidation means the consolidation of the Common Shares on the basis of one (1) post- consolidated Common Share for up to each ten outstanding Common Shares.

Substantive Consolidation is somewhat analogous to the non-bankruptcy remedy of “piercing the corporate veil,” which may permit a plaintiff to disregard the corporate entity and its separateness under appropriate circumstances. See, e.g., Consolidated Rock Products Co. v. Du Bois, 312 U.S. 510 (U.S. 1941). Applied as a bankruptcy doctrine, substantive consolidation addresses the special interest of a Bankruptcy Court in ensuring the equitable treatment of all creditors, rather than a particular plaintiff alleging fraud or other improprieties in the conduct of the affiliated entities. E.g., FDIC v. Colonial Realty, 966 F.2d at 61; Augie/▇▇▇▇▇▇▇, 860 F.2d at 518; In re ▇▇▇▇▇▇, 147 B.R. 678, 683-84 (Bankr. D.N.J. 1992). Consequently, the determination in a substantive consolidation proceeding is less likely to be based solely on specific allegations of fraud or intent to hinder a particular creditor or group of creditors, and will instead center on the Bankruptcy Court’s analysis of whether consolidation would be more equitable to all parties under the circumstances. See, e.g., In re ▇▇▇▇▇▇▇, Inc., 115 B.R. 390 (Bankr. N.D. Ga. 1990). In addition, Bankruptcy Courts may be asked to impose consolidation as part of a proposed reorganization plan, where the argument is based not on wrongdoing or reliance but on the assertion that consolidation of the assets and liabilities of two or more affiliated debtors would permit confirmation of a plan in a case that would otherwise require liquidation. E.g., In re Piece Goods Shops Co., L.P., 188 B.R. 778, 786 (Bankr. M.D.N.C. 1995); ▇▇▇▇▇ Energy Centre Ltd. EXHIBIT A-161 Southern California Public Power Authority _________, 2018 Page 5

Substantive Consolidation means the consolidation of the Reorganization Cases and the combining of the Estates, for purposes of the Plan and the distributions to be made thereunder, by aggregating the Estates' assets and liabilities and eliminating cross-corporate guaranties and inter- Estate debt pursuant to Section IV.A.