BID SOLICITATION PROCESS Sample Clauses
BID SOLICITATION PROCESS. During the period from the date of notice given pursuant to Section 10.1 to the Termination Date (or with regard to the application of this Section 10.2 to a sale of the Equipment pursuant to Section 22.2(b), the period from the date notice is given pursuant to Section 22.1 to the expiration date of the Basic Term or any Renewal Term as specified in such notice), Lessee, as agent for Lessor and at Lessee's sole cost and expense, shall use reasonable best efforts to obtain bids from prospective Third Party Purchasers for the cash purchase of all of the Equipment in a particular Class, and Lessee shall promptly, and in any event at least five Business Days prior to the proposed date of sale, certify to Lessor in writing the amount and terms of each such bid and the name and address of the party submitting such bid. Lessor shall have the right (but not the obligation) to obtain bids for the purchase of all such Equipment, either directly or through agents other than Lessee, but shall be under no duty to solicit bids, inquire into the efforts of Lessee to obtain bids or otherwise take any action in connection with arranging such sale.
BID SOLICITATION PROCESS. The Applicant may choose to solicit his/her own bids or request that the Program Operator solicit bids on his/her behalf. The Borrower will contract directly with the Contractor, whether a Volunteer Organization or a private entity. Contractors must be licensed and bonded by the State of California Contractors Licensing Board and agree to comply with all federal and state regulations regarding all labor and material warranties. Contractors must also provide Program Operator with evidence of Worker Compensation Insurance and Comprehensive General Liability and Property Damage Insurance. The Program Operator determines Contractor eligibility by contacting the State Contractors License Board. The Contractor is required to provide a self- certification stating that he/she is not on the Federal debarred list. Once determined eligible, the Contractor is then notified of provisional award of bid, pending loan approval. Notices of non-award are mailed to participating Contractors.