Examples of Preferred Bidder in a sentence
The Parties hereby undertake that in the event the JV/Consortium is declared the Preferred Bidder and awarded the Project, it shall incorporate a wholly owned special purpose company under the provisions of Indian Companies Act, 1956, as the O&M Contractor; in whose subscribed and paid up capital, the Preferred Bidder i.e. the parties herein shall collectively hold 100% equity during the License Period.
AND WHEREAS The Preferred Bidder has incorporated "DEVELOPER" for the purpose of implementation of the Project and has requested the "OWNERS" to execute this agreement with the "DEVELOPER".
For the avoidance of doubt, the lead member or other constituent member of the Consortium (whose experience and or the financial capacities have been taken in to consideration for the purposes of the evaluation of the Bid of the Preferred Bidder) shall, at all times, during the Concession Period, hold at least 26% of the paid up equity share capital of the Concessionaire.
In case the Preferred Bidder is a Consortium of two or more Persons/entities, all such Persons shall be jointly and severally liable to the Authority for compliance with the terms of this Agreement.
After the expiry of the Lock-In Period, the Lead Member or other constituent member of the Consortium (whose experience and or the financial capacities have been taken in to consideration for the purposes of the evaluation of the Bid of the Preferred Bidder) may be replaced by another entity, provided that the substitute entity holds at least 26% of the paid-up equity share capital of the Concessionaire.