Nonconsolidation Opinion Clause Samples
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Nonconsolidation Opinion. The Lessee, the Initial Purchasers and the Rating Agencies shall have received the opinion, dated the Closing Date, of Hunton & W▇▇▇▇▇▇▇ LLP in form and substance satisfactory to the Lessee to the effect that if the Owner Participant were to become a debtor in a case under the Bankruptcy Code, and if the matter were properly briefed and presented to a Federal court exercising bankruptcy jurisdiction, the court, exercising reasonable judgment after full consideration of all relevant factors, would not order, over the objection of the creditors of the Owner Lessor, the substantive consolidation of the assets and liabilities of the Owner Lessor with those of the Owner Participant.
Nonconsolidation Opinion. The Seller shall not take any action contrary to the “Assumptions and Facts” section in the opinion of ▇▇▇▇▇▇ & ▇▇▇▇▇▇▇, LLP, dated the date hereof, relating to certain nonconsolidation matters.
Nonconsolidation Opinion. If any of the factual assumptions relating to the conduct of Borrower or Sponsor contained in the Nonconsolidation Opinion delivered to Lender in connection with the Loan, or in any additional nonconsolidation opinion delivered subsequent to the closing of the Loan, is or shall become untrue in any material respect.
Nonconsolidation Opinion. If a nonconsolidation opinion was delivered on the Closing Date and if, after giving effect to any of the Transfers set forth in Sections 7.03(e), (f), (g) and (h) and all prior Transfers, 50% or more in the aggregate of direct or indirect interests in Borrower are owned by any Person and its Affiliates that owned less than a 50% direct or indirect interest in Borrower as of the Closing Date, Borrower must deliver to Lender an opinion of counsel for Borrower, in form and substance satisfactory to Lender, with regard to nonconsolidation.