U.S. Bidding Procedures Order Clause Samples
U.S. Bidding Procedures Order. As promptly as possible, but in no event later than February 20, 2009, Sellers shall cause the U.S. Debtors to file with the U.S. Bankruptcy Court a motion (the “U.S. Bidding Procedures Motion”) and a proposed order (the “U.S. Bidding Procedures Order”) with related U.S. bidding procedures in the form of Annex 1 seeking approval of a process for the sale of the Business, as set forth below. Sellers shall cause the U.S. Debtors to use commercially reasonable efforts to cause the U.S. Bankruptcy Court to (a) schedule a hearing to consider the U.S. Bidding Procedures Motion as soon as possible and (b) enter the U.S. Bidding Procedures Order by February 27, 2009.
U.S. Bidding Procedures Order. The U.S. Debtors shall file a motion with the U.S. Bankruptcy Court (the “U.S. Bidding Procedures and Sale Motion”) within five (5) Business Days of the date of this Agreement seeking the entry of the U.S. Bidding Procedures Order, in the form set forth in Exhibit 5.1.1, any modifications to which must be consented to by the Purchaser, such consent not to be unreasonably withheld (as approved, the “U.S. Bidding Procedures Order”). The U.S. Debtors shall use their reasonable best efforts to cause the U.S. Bankruptcy Court to enter the U.S. Bidding Procedures Order as soon as practicable after the filing of the U.S. Bidding Procedures and Sale Motion, but in no event later than thirty (30) days from the date of this Agreement.