Common use of Waiver of Consolidation Clause in Contracts

Waiver of Consolidation. The Junior Creditor acknowledges and agrees that (i) the Obligors are each separate and distinct entities; and (ii) he 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 Obligors in any Proceeding under any Debtor Relief Act or other similar proceeding.

Waiver of Consolidation. The Each of the Junior Creditor Creditors acknowledges and agrees that (i) the Obligors are each separate and distinct entities; and (ii) he it will not at any time insist upon, plead or seek advantage of any substantive consolidation, piercing of the corporate veil or any other order or judgment that causes an effective combination of the assets and liabilities of the Obligors in any Proceeding under any Debtor Relief Act Laws or other similar proceeding.