Closed auction definition

Closed auction means an auction where the Auctioneer, the owner or the rightful holder of the goods or asset; issues an invitation only to a finite list of consumers to participate in the proposed auction.
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Related to Closed auction

  • Failed Auction has the meaning assigned to such term in the definition of “Dutch Auction”.

  • Reverse auction means a purchasing process in which offerors submit proposals in competing to sell services or supplies in an open environment via the internet.

  • Dutch Auction means an auction (an “Auction”) conducted by Holdings or one of its Subsidiaries in order to purchase any Term Loans under a Tranche (the “Purchase”) in accordance with the following procedures or such other procedures as may be agreed to between the Administrative Agent and the Borrower:

  • Reverse auctioning means a procurement method wherein bidders are invited to bid on specified

  • Wholesale auction means an auction of motor vehicles restricted to sales at wholesale.