Auction Structure Clause Samples

The Auction Structure clause defines the framework and procedures governing how an auction will be conducted. It typically outlines the format of the auction (such as open outcry, sealed bid, or online), the sequence of bidding rounds, and any rules regarding participant eligibility or bid increments. For example, it may specify whether bids are binding, how ties are resolved, and the timeline for submitting offers. The core function of this clause is to ensure transparency and fairness in the auction process by providing clear guidelines for all participants, thereby minimizing disputes and confusion.
Auction Structure. Participation in a Sub-Auction-TCCs may be offered for sale in each Sub-Auction round of the Centralized TCC Auction. TCCs purchased in any round of any Sub-Auction may be resold in a subsequent round of that Sub-Auction. For example, the purchaser of a 5-year TCC purchased in the 5 year Sub-Auction may release a 4-year TCC with the same Point of Injections and Point of Withdrawal for sale in the 4-year Sub-Auction. Similarly, that purchaser could instead release a corresponding 3-year TCC for sale in the 3-year Sub-Auction. The following holders of TCCs may offer to sell TCCs in any round of a Sub-Action appropriate to their duration (i) Primary Holders who did not sell those TCCs in a Direct Sale or in a previous round of the Centralized TCC Auction ; (ii) purchasers of TCCs in previous rounds of that Centralized TCC Auction or in previous Auctions who have not subsequently sold those TCCs through an Auction; and (iii) purchasers of TCCs through a Direct Sale who qualify to become Primary Holders and have not already sold those TCCs through an Auction or through a Direct Sale, provided however that the sale of TCCs shall be subject to the limitations and prohibitions set forth in this ISO OATT including the limitation on the sale or transfer of Fixed Price TCCs and the limitation on the sale or other transfer of Incremental TCCs.
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Auction Structure. Bid Requirements – 19.9.1.1 Bid Requirements – Bidding Rounds – 19.9.1.2 Bidding Rounds – Reconfiguration Auctions – 19.9.1.3 Reconfiguration Auctions – 9.2 Responsibilities of the ISO 19.9.2 Responsibilities of the ISO 9.3 Additional Responsibilities of the ISO 19.9.3 Additional Responsibilities of the ISO 9.4 Responsibilities of each Bidder 19.9.4 Responsibilities of each Bidder 9.5 Selection of Winning Bids and Determination of the Market Clearing Price 19.9.5 Selection of Winning Bids and Determination of the Market Clearing Price 9.6 Settlements, Billing, Payment, and Disputes 19.9.6 Settlements, Billing, Payment, and Disputes
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Auction Structure 
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Related to Auction Structure

  • Classification Structure All employees working under this Agreement shall be classified according to the skill based classification structure set out in Appendix A.

  • PRICING STRUCTURES Licenses and Support Services for the Licensed Programs to which this OST applies are granted according to the pricing structures mentioned in the related Transaction Document. Standard pricing structures are defined in the section “DEFINITIONS” of this OST, even though those pricing structures may not be applicable to the DS Offerings to which this OST applies. Other pricing structures may be made available on a case by case basis.

  • FIRM DISCOUNT AND PRICING STRUCTURE Contractor guarantees that prices quoted are equal to or less than prices quoted to any other local, State or Federal government entity for services of equal or lesser scope. Contractor agrees that no price increases shall be passed along to the County du ring the term of this Contract not otherwise specified and provided for within this Contract.

  • Alternative Structure (a) The Company shall use reasonable best efforts to cause any agreement, instrument or indenture with respect to indebtedness for borrowed money to which the Company or any of its Subsidiaries is a party to be amended prior to the date that is not later than the fifth business day prior to the date the Form S-4 Registration Statement is declared effective, if Parent reasonably determines that such amendment is necessary so that the Subsequent Merger will not have any of the effects described in Section 5.1(d)(ii) (mutatis mutandi) (without giving effect to (i) the Company Material Adverse Effect exception at the end of Section 5.1(d)(ii) and (ii) any cure period or notice requirement) with respect to such agreement, instrument or indenture (an “Indenture Impact”); provided that without Parent’s prior written consent the Company shall not make any non-de minimis consent payments to any third party in connection with the foregoing or agree to amend any of the terms of such agreement, instrument or indenture except to amend the provision giving rise to the Indenture Impact. (b) In the event that either (i) the Mergers would reasonably be likely to fail to qualify for the Intended Tax Treatment or (ii) the Subsequent Merger would have an Indenture Impact, the parties agree (x) to cooperate in good faith to explore alternative structures that would permit the transactions contemplated hereby to qualify as a reorganization within the meaning of Section 368(a) of the Code and (y) if each party to this Agreement in the exercise of its reasonable business discretion agrees to pursue such an alternative structure, the parties shall enter into an appropriate amendment to this Agreement to reflect such alternative structure and provide for such other changes necessitated thereby; provided, however, that failure of the parties to agree to an alternative structure shall not cause any condition to Closing set forth herein not to be satisfied or otherwise cause any breach of this Agreement; and provided, further, that any actions taken pursuant to this Section 6.20(b) (A) shall not (I) without the consent of the Company and Parent, alter or change the amount, nature or mix of the Merger Consideration or (II) impose any economic or other costs on Parent or the Company that are more than immaterial and (B) shall be capable of consummation without delay in relation to the structure contemplated herein. Notwithstanding anything in this Agreement to the contrary, in no event shall Parent be required to cause the Subsequent Merger to occur or to effect any alternative structure if the foregoing would result in an Indenture Impact. (c) In the event the Mergers would reasonably be likely to fail to qualify for the Intended Tax Treatment, the parties may agree (in each party’s reasonable business discretion) not to consummate the Subsequent Merger. For the avoidance of doubt, neither the identification nor the implementation of an alternative structure under Section 6.20(b) above shall be a condition to Closing.

  • Master Feeder Structure If permitted by the 1940 Act, the Board of Trustees, by vote of a majority of the Trustees, and without a Shareholder vote, may cause the Trust or any one or more Series to convert to a master feeder structure (a structure in which a feeder fund invests all of its assets in a master fund, rather than making investments in securities directly) and thereby cause existing Series of the Trust to either become feeders in a master fund, or to become master funds in which other funds are feeders.