Auction Methodology definition
Examples of Auction Methodology in a sentence
For any Auction Lots contained within such Sub-Phase, an Auction Methodology consistent with section 17.2 of the DDA.
For any Auction Lots contained within the applicable Major Phase, an Auction Methodology consistent with section 17.2 of the DDA.
If the auction of the Auction Lots held in accordance with the Auction Methodology does not result in a sale of the subject Auction Lot, then Developer or its Affiliates may purchase the Auction Lot at the Auction Minimum or at a lower price Approved by the Agency and Developer, each in their sole discretion.
The Auction Methodology shall: (i) include a qualification or prequalification component for bidding; (ii) include a minimum bid price (the “Auction Minimum”) that is equal to at least seventy-five percent (75%) of the Fair Market Value of the Auction Lot; and (iii) prohibit Developer and its Affiliates from submitting bids.