Back-Up Bidder definition

Back-Up Bidder has the meaning set forth in the Bid Procedures.
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Back-Up Bidder shall have the meaning specified in Section 6.7(f).
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Back-Up Bidder has the meaning set forth in Section 5.7(f).
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Examples of Back-Up Bidder in a sentence

  • Following the Auction, if the Successful Bidder fails to consummate the applicable Alternative Transaction as a result of a breach or failure to perform on the part of such Successful Bidder, then Buyer, if Buyer is the Back-Up Bidder, will be deemed to have the new prevailing bid, and Sellers may seek authority to consummate the Transactions on the terms and conditions set forth in this Agreement (as the same may be improved upon by Buyer in the Auction) with the Back-Up Bidder.

  • Following the Auction, if the Successful Bidder fails to consummate the applicable Alternative Transaction as a result of a breach or failure to perform on the part of such Successful Bidder, then Purchaser, if Purchaser is the Back-Up Bidder, will be deemed to have the new prevailing bid, and Sellers may seek authority to consummate the Transaction on the terms and conditions set forth in this Agreement (as the same may be improved upon by Purchaser in the Auction) with the Back-Up Bidder.

  • In the event that Buyer is the Back-Up Bidder following the Auction, the Escrow Agent shall return the Deposit Escrow to Buyer within two (2) Business Days of the Outside Back-Up Date.

  • Any Good Faith Deposit provided by a Winning Bidder (or Back-Up Bidder, as applicable) shall be applied to the purchase price for the applicable Sale Transaction at closing.

  • Notwithstanding anything to the contrary contained in this Agreement, the Deposit shall, unless otherwise ordered by the Bankruptcy Court, be returned to Seller on or before April 4, 2018, or (only if Buyer has been designated Back-Up Bidder pursuant to Section 7) the business day following the Back-Up Bid Closing Date (as defined below).


More Definitions of Back-Up Bidder

Back-Up Bidder shall have the meaning set forth in Section 7.2(c).
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Back-Up Bidder means that Person, if any, determined by the Seller to have made the second highest or best offer for the Purchased Shares at the Sale Hearing.
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Back-Up Bidder has the meaning set forth in the Bid Procedures. “Bankruptcy Case” has the meaning set forth in the Recitals. “Bankruptcy Code” has the meaning set forth in the Recitals. “Bankruptcy Court” has the meaning set forth in the Recitals. “Base Amount” has the meaning set forth in Section 2.5.
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Back-Up Bidder means the bidder, determined pursuant to the applicable Bidding Procedures, whose bid(s) constitute(s) the next highest or otherwise best bid(s) for the applicable interests or assets that are the subject of a Sale Transaction after the applicable Successful Bid.
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Back-Up Bidder. If multiple bids are submitted at the Auction, the bidder whose bid is selected as the second highest and otherwise best bid.
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Back-Up Bidder shall have the meaning set forth in Section 5.2.
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Back-Up Bidder. , if any, means the Qualified Bidder who submits the Back-up Bid at the Auction.
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