Successful Bid Sample Clauses
The 'Successful Bid' clause defines the conditions under which a bid is officially recognized as the winning offer in a procurement or auction process. Typically, this clause outlines the criteria for selection, such as meeting all requirements and offering the best value, and may specify the notification process for the winning bidder. Its core function is to establish a clear and fair method for determining and communicating which party has been awarded the contract, thereby reducing disputes and ensuring transparency in the selection process.
Successful Bid. The Bid that substantially complies with the technical, commercial and financial requirements of the tender and determined to be the Lowest Evaluated Price.
Successful Bid. If the Takeover Bid becomes unconditional, all advisory costs (including the costs of the Consortium Member’s respective advisers and the costs of common advisers) will be borne by BidCo.
Successful Bid. If the Bid Conditions are satisfied or waived:
(a) BidCo shall complete the SPAs;
(b) BidCo will draw down funds under the Funding Agreements in accordance with clause 5.3 to pay the consideration payable under the Takeover Offers.
Successful Bid. The Joint Venture was the successful bidder at the Auction, pursuant to which the Joint Venture submitted a bid to pay a Transaction Consideration in the aggregate amount of $104,000,000, in addition to assuming certain Expense obligations set forth in the Agency Agreement.
Successful Bid. The highest bid for the Item will be the successful bid.
Successful Bid. The Auction shall continue until there is only one offer that the Assignee determines, and subject to the Court’s approval, is the highest or otherwise best offer from among the bids submitted at the Auction (the “Successful Bid”). The bidder submitting such Successful Bid shall become the Successful Bidder. Within one business day after the conclusion of the Auction (but in any event prior to the commencement of the Sale Hearing), the Successful Bidder shall (i) complete and execute all agreements, contracts, instruments or other documents evidencing and containing the terms and conditions upon which the Successful Bid was made, including, without limitation an agreement substantially in the same form as the APA , and (ii) supplement its Deposit by certified check, wire transfer, or other immediately available funds so that, to the extent necessary, such deposit equals 10% of the Successful Bid.