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

  • If no objection to substantive consolidation is timely Filed and served by any Holder of an Impaired Claim affected by the Plan as provided herein on or before the deadline to object to Confirmation of the Plan, or such other date as may be fixed by the Court, the Substantive Consolidation Order (which may be the Confirmation Order) may be approved by the Court.

  • The Substantive Consolidation order, however, shall only be entered if the Bankruptcy Court enters the Confirmation Order.

  • Unless an objection to such substantive consolidation is made in writing by any creditor affected by the Plan as herein provided on or before five (5) days prior to the Voting Deadline, or such other date as may be fixed by the Court, the Substantive Consolidation order (which may be the Confirmation Order) may be entered by the Court.

  • If this case has been filed jointly by a husband and wife pursuant to 11 USC §302, entry of an Order Confirming Plan shall also constitute an Order for Substantive Consolidation of the debtors.

  • If no objection to substantive consolidation is timely filed and served by any Holder of an Impaired Claim affected by this Plan as provided herein on or before the deadline for objection to confirmation of this Plan, the Substantive Consolidation Order (which may be the Confirmation Order) may be entered by the Bankruptcy Court without further notice and hearing as to such substantive consolidation.

  • Except as specifically excluded herein, the Classification of claims under this Plan assumes implementation of the Substantive Consolidation contemplated by Section 5.01 of this Plan.

  • No Substantive Consolidation Although this Plan is presented as a joint plan of reorganization, this Plan does not provide for the substantive consolidation of the Debtors’ Estates, and on the Effective Date, the Debtors’ Estates shall not be deemed to be substantively consolidated for any reason.

  • No Substantive Consolidation The Plan is being proposed as a joint plan of reorganization of the Debtors for administrative purposes only and constitutes a separate chapter 11 plan of reorganization for each Debtor.

  • Originally, Federal opposed the Substantive Consolidation proposed by the Creditors' Committee and was in negotiations with the Equity Committee regarding support for its plan.

  • Subsequent to the Initial Disclosure Statement Hearing, the Debtors reached an agreement with Federal regarding Substantive Consolidation and the Federal Claims.


More Definitions of Substantive Consolidation

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.
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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.
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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/Xxxxxxx, 860 F.2d at 518; In re Xxxxxx, 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 Xxxxxxx, 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); Xxxxx Energy Centre Ltd. EXHIBIT A-161 Southern California Public Power Authority _________, 2018 Page 5
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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.
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Substantive Consolidation means the combining of the Estates, for purposes of the Plan and the distributions
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Substantive Consolidation means any element of a confirmed chapter 11 plan in the
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Related to Substantive Consolidation

  • Substantive Pay means the pay other than special pay, personal pay or emoluments classed as pay by the Executive Council, to which a University employee is entitled on account of a post to which he has been appointed substantively or by reason of his substantive position in a cadre.

  • Non-Consolidation Opinion means that certain substantive non-consolidation opinion delivered to Lender in connection with the closing of the Loan.

  • Substantive means comments that contribute something new and hopefully important to the discussion. Thus a message that simply says “I agree” is not substantive. A substantive comment contributes a new idea or perspective, a good follow-up question to a point made, offers a response to a question, provides an example or illustration of a key point, points out an inconsistency in an argument, etc.

  • Substantive Motion means an original motion or an original motion as amended, but does not include an amendment or a procedural motion.

  • Material Change in Content means the occurrence since the Launch Date of a material change in the content, composition or constitution of the Futures Contract or the Commodity.

  • Partnership Change of Control means Tesoro Corporation ceases to Control the General Partner.

  • Parent Change of Control means the occurrence of any of the following:

  • similar stage of construction means the stage at which:

  • Substantive document means a document or other information or data in electronic media determined by the comptroller to substan- tially involve or include information or data significant to an applica- tion, the evaluation or consideration of an application, or the agree- ment or implementation of an agreement for limitation of appraised value pursuant to Tax Code Chapter 313. The term includes, but is not limited to, any application requesting a limitation on appraised value and any amendments or supplements, any economic impact evaluation made in connection with an application, any agreement between applicant and the district and any subsequent amend- ments or assignments, any district written finding or report filed with the comptroller as required under 34 Administrative Code Chapter 9, Subchapter F; and any completed annual eligibility re- port (Form 50-772A) submitted to the comptroller. The term shall

  • statutory provision means a provision of an Act or of an instrument made under an Act.

  • Public Acquirer Change of Control means any event constituting a Fundamental Change that would otherwise give Holders the right to cause the Company to repurchase the Securities under Section 3.9 where either (a) the acquirer or (b) if not the acquirer, a direct or indirect majority-owned Subsidiary of the acquirer or (c) if not the acquirer or any direct or indirect majority-owned Subsidiary of the acquirer, a corporation by which the acquirer is majority-owned has a class of common stock (or American Depository Shares representing such common stock) traded on a U.S. national securities exchange or quoted on the NASDAQ Global Select Market or which will be so traded or quoted when issued or exchanged in connection with such Fundamental Change.

  • Significant Asset Sale means each Asset Sale which generates Net Sale Proceeds of at least $10,000,000.

  • Company Change of Control means any of the following events:

  • Significant Modification As defined in Section 3.25.

  • Reorganization Plan means a plan of reorganization in any of the Cases.

  • Reorganization Agreement has the meaning set forth in the recitals.

  • Restructuring Effective Date has the meaning set out in the Restructuring Implementation Deed;

  • Accounting Restatement means an accounting restatement that the Company is required to prepare due to the material noncompliance of the Company with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period.

  • Section 502(b)(10) changes means changes that contravene an express permit term or condition. Such changes do not include changes that would violate applicable requirements or contravene federally enforceable permit terms and conditions that are monitoring (including test methods), recordkeeping, reporting, or compliance certification requirements.

  • REMIC Change of Law Any proposed, temporary or final regulation, revenue ruling, revenue procedure or other official announcement or interpretation relating to REMICs and the REMIC Provisions issued after the Closing Date.

  • Combination of vehicles means a truck or truck tractor and

  • Significant Transaction means a transaction which meets any one of the tests below:

  • Change in Tax Classification has the meaning set forth in Section 5.2(h).

  • Table of Contents is deleted in its entirety and replaced with the attached “Table of Contents” (identified by “SA-12”).

  • Financial Restatement means a restatement of the Company’s financial statements due to the Company’s material noncompliance with any financial reporting requirement under U.S. federal securities laws that is required in order to correct:

  • MacBride Principles means those principles relating to nondiscrimination in employment and freedom of workplace opportunity which require employers doing business in Northern Ireland to: