Common use of Waiver of Consolidation Clause in Contracts

Waiver of Consolidation. Each Subordinated Creditor acknowledges and agrees that (i) the Company and each Viking Guarantor are each separate and distinct entities; and (ii) it will not at any time insist upon, plead or seek advantage of any substantive consolidation, piercing the corporate veil or any other order or judgment that causes an effective combination of the assets and liabilities of the Company and any Viking Guarantor in any case or proceeding under Title 11 of the United States Code or other similar proceeding.