Minimum Bid Clause Samples
A Minimum Bid clause sets the lowest acceptable offer that can be made in a bidding process. It establishes a baseline amount that all bids must meet or exceed, ensuring that no bids below this threshold will be considered. For example, in an auction or procurement scenario, the seller or organizer specifies the minimum price at which they are willing to sell an item or award a contract. This clause's core function is to protect the seller or issuer from receiving unacceptably low offers, thereby ensuring a fair and efficient bidding process.
Minimum Bid. The minimum bid is the lowest dollar amount per acre that BOEM will accept as a winning bid and is the amount at which BOEM will start the bidding in the auction. BOEM has established a minimum bid of $100.00 per acre for this lease sale.
Minimum Bid. The minimum bid for the Real Property was determined by Seller to be $ (the “Minimum Bid”).
Minimum Bid. The consideration proposed by the Bid must be in cash, and must equal or exceed the sum of:
Minimum Bid. The County reserves the right not to consider bids offered that are less than the amount of $57,618 per annum, or $54 per square foot, being the amount currently obtained for the Leased Premises.
Minimum Bid. Each bid submitted in connection with Assets must either be (i) (a) a bid for all, substantially all, or a material portion of the Assets, (b) include cash consideration in an amount sufficient to (1) fully satisfy the DIP Claims of the DIP Lender in full and in cash or such other treatment as may be agreed to by the DIP Lender, (2) fully satisfy the Prepetition RCF Claims of the Prepetition RCF Agent and Prepetition RCF Lenders in full and in cash or such other treatment as may be agreed to by such creditors, (3) fully satisfy the claims of the Prepetition 2025 Notes Claims in full and in cash or such other treatment as may be agreed to by such creditors, (4) fully satisfy the claims of the Prepetition 2028 Notes Claims in full and in cash or other such treatment as may be agreed by such creditors; (5) fully satisfy the claims of the Prepetition Series A Note Claims in full and in cash, (6) fully satisfy the claims of the holders of Allowed General Unsecured Claims in full and in cash or such other treatment as may be agreed to by such creditors, (7) provide consideration to the holders of all Existing Common Stock in an aggregate amount greater than $25,000,000 plus the value of the CVRs (as defined in the RSA), and (c) assume the Assumed Liabilities, or (ii) a bid for an alternative transaction that is acceptable to the Debtors and the DIP Lender and the Required Consenting Noteholders (to the extent such parties are not Potential Bidders). For the avoidance of doubt, as to clause (ii) in this Section VII(E), the Debtors may evaluate each bid in light of each of the factors set forth therein, but a bid is not required to meet each factor in order to be determined a Qualified Bid. If the value of a competing Qualified Bid includes additional non-cash components, the bidder should include an analysis or description of the value of any such additional non-cash components, including any supporting documentation, to assist the Debtors in better evaluating the competing Qualified Bid.