Common use of Nonconsolidation Clause in Contracts

Nonconsolidation. The Transferor conducts, and will at all times conduct, its affairs such that neither the Retention Holder nor the Issuer would be substantively consolidated in the estate of the Transferor and their respective separate existences would not be disregarded in the event of a bankruptcy of the Transferor (provided, however, the Transferor does not hereby agree to maintain the solvency of the Retention Holder or of the Issuer).

Nonconsolidation. The Transferor conducts, and will at all times conduct, its affairs such that neither the Retention Holder Depositor nor the Issuer would be substantively consolidated in the estate of the Transferor and their respective separate existences would not be disregarded in the event of a bankruptcy of the Transferor (provided, however, the Transferor does not hereby agree to maintain the solvency of the Retention Holder Depositor or of the Issuer).

Nonconsolidation. The Transferor conducts, and will at all times conduct, its affairs such that neither the U.S. Retention Holder nor the Issuer would be substantively consolidated in the estate of the Transferor and their respective separate existences would not be disregarded in the event of a bankruptcy of the Transferor (provided, however, the Transferor does not hereby agree to maintain the solvency of the U.S. Retention Holder or of the Issuer).