Prevailing Bidder definition
Examples of Prevailing Bidder in a sentence
Following completion of the Auction, if Purchaser is the Prevailing Bidder, Sellers shall not initiate contact with, solicit or encourage submission of any inquiries, proposals or offers by, any Person in connection with any sale or other disposition of the Purchased Assets.
Following completion of the Auction, if Purchaser is the Prevailing Bidder, Sellers shall not initiate contact with, solicit or encourage submission of any inquiries, proposals or offers by, any Person other than Purchaser in connection with any sale or other disposition of the Purchased Assets.
The Sale Order shall declare the Purchaser as the Prevailing Bidder and the Sale Order shall not be the subject of a pending appeal and shall not have been stayed, vacated, modified or supplemented without the prior written consent of Purchaser.
For the avoidance of doubt, if the Purchaser or Seller terminates this Agreement with respect to any individual or combination of Lots pursuant to Section 10.1(e), the Agreement, as amended as permitted by Section 7.3 and the Bidding Procedures Order, shall remain in full force and effect for any Lots for which Purchaser is the Prevailing Bidder.
If, in accordance with the Bidding and Auction Procedures, Buyers are determined to be the Prevailing Bidder, (a) Sellers shall actively support, not oppose, not object to, and use their commercially reasonable efforts to seek and obtain the approval of the Sales Order by the Bankruptcy Court, and (b) without limiting the foregoing, Sellers shall cooperate with Buyers and their representatives in connection with seeking entry of the Sales Order.
Buyer has been declared the the Prevailing Bidder (as defined herein) at the Auction.
If, in accordance with the Bidding and Auction Procedures, Buyers are determined to be the Prevailing Bidder, Sellers shall use their commercially reasonable efforts to obtain to prompt approval and entry of the Sales Order.
Following completion of the Auction, if Purchaser is the Prevailing Bidder, Seller shall not initiate contact with, solicit or encourage submission of any inquiries, proposals or offers by, any Person in connection with any sale or other disposition of the Purchased Assets.
If the Purchaser is the Prevailing Bidder or otherwise closes on the transactions contemplated by this Agreement, then, at the Closing, the DIP Loan shall be deemed satisfied without reducing the Cash Balance of the Purchase Price.
Unless the APA has been validly terminated in accordance with its terms (in which case the foregoing instructions shall control), in the event that Purchaser is not the Prevailing Bidder or the Back-up Bidder following the Auction, the Escrow Agent shall return the Deposit Escrow Funds to Purchaser within fifteen (15) business days after the entry of the Sale Order by the Bankruptcy Court with respect to the Alternative Transaction involving the Prevailing Bidder, as Purchaser shall direct in writing.