Common use of Qualified Bidder Clause in Contracts

Qualified Bidder. Each Qualified Bidder shall be invited to attend an outcry auction (the "Auction") at the Office of ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, LLP, which Auction must be attended in person. The Seller and the Company shall cause the Auction to commence at 10 a.m.. (Central Time), on a date that is no more than two (2) business days prior to the date for which the Sale Hearing is set. Subject to the limitations set forth above, the opening price at such Auction shall be the highest and/or best offer of a Qualified Bidder (as determined by the Committee in its sole discretion after consultation with the Bondholders, Seller and the Company). Subsequent bids shall be in increments of $100,000 or such greater amount as designated by the Committee from time to time during the Auction. At the request of Buyer, Seller shall provide or cause the Committee to provide its valuation of any competing bid that constitutes the highest and/or best offer at the time of such request. Seller, the Company and the Committee shall consider bids submitted by Buyer and the Qualified Bidders during the Auction and the Committee, after consultation with the Bondholders, Seller and the Company, shall make a determination of the highest and/or best offer in its sole discretion. The determination of which bidder has submitted the highest and/or best offer for the Closing Shares and/or the Riverboat Casino Assets, as applicable, at the Auction shall be made by the Committee in its sole discretion after consultation with the Bondholders, Seller and the Company, subject to the final determination by the Court at the Sale Hearing. At the Sale Hearing, the Court shall consider the results of the Auction and shall make a final determination of the highest and/or best offer to the Company's bankruptcy estate. After the determination of the winning bidder, Seller, or the Company, as applicable, shall promptly execute the Sale and Purchase Agreement previously executed and submitted by such winning bidder. 34 Notwithstanding anything to the contrary herein, without the prior consent of the Committee, in no event shall the Auction or the Sale Hearing occur prior to the expiration of the Environmental Due Diligence Period and in the event that the Environmental Due Diligence Period is extended beyond the date on which the Auction and the Sale Hearing are required to be held or is not terminated by Buyer prior to five (5) business days prior to the scheduled date of the Auction, the Auction and the Sale Hearing may be delayed at the election of the Committee after consultation with the Seller, the Company and the Bondholders and any such delay shall not constitute a breach of the terms of this Agreement.

Qualified Bidder. Each Qualified Bidder shall be invited to attend an outcry auction (the "Auction") Auction at the Office of ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Thompson Coburn LLP, which Auction must be attended in person. The Seller and the Company Selle▇ ▇▇▇ ▇▇▇ ▇▇▇▇▇ny shall cause the Auction to commence at 10 a.m.. a.m. (Central Time)) on May 16, on a date that is no more than two (2) business days 2006, provided the Procedures Order has been entered prior to the date for which the Sale Hearing is setsuch date. Subject to the limitations set forth above, the opening price at such Auction shall be the highest and/or best offer of a Qualified Bidder (as determined by the Committee in its sole discretion after consultation with the Bondholders, Seller and the Company). Subsequent bids shall be in increments of $100,000 or such greater amount as 38 designated by the Committee from time to time during the Auction. At the request of Buyer, Seller shall provide or cause the Committee to provide its valuation of any competing bid that constitutes the highest and/or best offer at the time of such request. Seller, the Company and the Committee shall consider bids submitted by Buyer and the Qualified Bidders during the Auction and the Committee, after consultation with the Bondholders, Seller and the Company, shall make a determination of the highest and/or best offer in its sole discretion. The determination of which bidder has submitted the highest and/or best offer for the Closing Shares and/or the Riverboat Casino Assets, as applicable, at the Auction shall be made by the Committee in its sole discretion after consultation with the Bondholders, Seller and the Company, subject to the final determination by the Court at the Sale HearingHearing referred to in Section 9(b). At the Sale Hearing, the Court shall consider the results of the Auction and shall make a final determination of the highest and/or best offer to the Company's bankruptcy estate. After the determination of the winning bidder, Seller, or the Company, as applicable, shall promptly execute the Sale and Purchase Agreement previously executed and submitted by such winning bidder. 34 Notwithstanding anything to , together with any changes thereto necessitated by the contrary herein, without the prior consent of the Committee, in no event shall the Auction or the Sale Hearing occur prior to the expiration of the Environmental Due Diligence Period and in the event that the Environmental Due Diligence Period is extended beyond the date on which the Auction and the Sale Hearing are required to be held or is not terminated by Buyer prior to five (5) business days prior to the scheduled date of parties' actions at the Auction, the Auction and the Sale Hearing may be delayed at the election of the Committee after consultation with the Seller, the Company and the Bondholders and any such delay shall not constitute a breach of the terms of this Agreement.