Auction Termination Date definition
Examples of Auction Termination Date in a sentence
If upon the Auction Termination Date, the Investor is the Successful Investor, the Company shall thereafter provide the Investor with copies of all material written materials received from any taxing authority in respect of any material Tax Contests, shall consult with the Investor in good faith regarding the conduct of such Tax Contest, and shall consider in good faith suggestions made by the Investor and its Representatives regarding the conduct of such Tax Contests.
The Debtors shall use their commercially reasonable efforts to obtain Bankruptcy Court approval of (x) the Bidding Procedures within eleven (11) days of the date of the filing of the Bidding Procedures and (y) the proposal it seeks to have determined to be the Approved Proposal (as defined in the Bidding Procedures) promptly following the Auction Termination Date (as defined in Section 4.2(b)).
Seller agrees that it will use its reasonable best efforts to obtain entry by the Bankruptcy Court of (i) the Bidding Procedures Order within ten (10) days of the date of execution of this Agreement and (ii) the Approval Order promptly following the Auction Termination Date.
Notwithstanding the foregoing, Sellers may only enter into, and seek Bankruptcy Court approval of, (i) any definitive agreement with respect to an Alternative Transaction if such Alternative Transaction is a Superior Transaction or (ii) a Distribution, and in each case only on or prior to the Auction Termination Date, unless Purchaser is not selected as the Winning Bidder pursuant thereto.
Bidders will be required to submit any due diligence questions in writing to the Advisor for determination of their relevancy, no later than 10 Business Days before the Auction Termination Date.
The Servicer and the Advisor will be required to satisfy all relevant questions at least five Business Days prior to the Auction Termination Date and distribute the questions and answers to all bidders.