{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "paragraph-16", "type": "clause", "offset": [139, 151]}, {"key": "soft-close", "type": "clause", "offset": [172, 182]}], "size": 7, "snippet": "Friday, June 28th, 2024 at 4 PM *** Bids at 4 PM extend auction 2 minutes, and each bid during extension(s) restart 2-minute extension See Paragraph 16 that addresses the \u201cSOFT CLOSE\u201d.", "samples": [{"hash": "2pxw7biQixn", "uri": "/contracts/2pxw7biQixn#auction-date", "label": "Online Auction Bidders Agreement", "score": 26.1950718686, "published": true}], "hash": "25bc43843c762ff492f17c2387354b4d", "id": 1}, {"snippet_links": [{"key": "month-year", "type": "clause", "offset": [4, 14]}], "size": 3, "snippet": "Day Month Year", "samples": [{"hash": "7CQkcOdXw1F", "uri": "/contracts/7CQkcOdXw1F#auction-date", "label": "Credit Agreement (Citgo Petroleum Corp)", "score": 18.0, "published": true}], "hash": "5757d4e3c0198ccf149e00b42f9f362f", "id": 2}, {"snippet_links": [{"key": "such-determination", "type": "definition", "offset": [10, 28]}, {"key": "the-broker", "type": "clause", "offset": [29, 39]}, {"key": "market-rates", "type": "definition", "offset": [102, 114]}, {"key": "term-rates", "type": "clause", "offset": [155, 165]}, {"key": "supply-and-demand", "type": "clause", "offset": [187, 204]}, {"key": "term-securities", "type": "clause", "offset": [229, 244]}, {"key": "the-preferred-shares", "type": "clause", "offset": [326, 346]}, {"key": "financial-conditions", "type": "clause", "offset": [365, 385]}, {"key": "objectives-of-the-trust", "type": "clause", "offset": [444, 467]}, {"key": "dividend-periods", "type": "definition", "offset": [481, 497]}, {"key": "dividend-rates", "type": "clause", "offset": [502, 516]}, {"key": "holders-of", "type": "clause", "offset": [559, 569]}, {"key": "request-for-special-dividend-period", "type": "definition", "offset": [654, 689]}, {"key": "the-auction-agent", "type": "definition", "offset": [693, 710]}, {"key": "notice-of-special-dividend-period", "type": "definition", "offset": [854, 887]}, {"key": "securities-depository", "type": "clause", "offset": [916, 937]}, {"key": "the-special-dividend", "type": "clause", "offset": [1007, 1027]}, {"key": "optional-redemption-price", "type": "definition", "offset": [1045, 1070]}, {"key": "as-specified", "type": "clause", "offset": [1071, 1083]}, {"key": "specific-redemption-provisions", "type": "definition", "offset": [1122, 1152]}, {"key": "a-copy-of", "type": "clause", "offset": [1229, 1238]}, {"key": "substitute-rating", "type": "definition", "offset": [1304, 1321]}, {"key": "written-notice", "type": "definition", "offset": [1501, 1515]}, {"key": "notice-of-revocation", "type": "definition", "offset": [1538, 1558]}, {"key": "the-business", "type": "clause", "offset": [1648, 1660]}, {"key": "the-relevant", "type": "clause", "offset": [1674, 1686]}, {"key": "the-1940-act", "type": "definition", "offset": [1714, 1726]}, {"key": "fail-to-maintain", "type": "clause", "offset": [1795, 1811]}, {"key": "fitch-preferred-shares-asset-coverage", "type": "definition", "offset": [1817, 1854]}, {"key": "valuation-dates", "type": "clause", "offset": [1919, 1934]}, {"key": "pro-forma-basis", "type": "clause", "offset": [2037, 2052]}, {"key": "the-proposed", "type": "clause", "offset": [2070, 2082]}, {"key": "with-respect-to", "type": "clause", "offset": [2143, 2158]}, {"key": "similar-to", "type": "definition", "offset": [2300, 2310]}, {"key": "sufficient-funds", "type": "definition", "offset": [2370, 2386]}, {"key": "payment-of-dividends", "type": "definition", "offset": [2395, 2415]}, {"key": "dividend-payment-date", "type": "clause", "offset": [2454, 2475]}, {"key": "close-of-business", "type": "clause", "offset": [2542, 2559]}, {"key": "third-business-day", "type": "clause", "offset": [2567, 2585]}, {"key": "giving-a-notice", "type": "clause", "offset": [2812, 2827]}, {"key": "in-clause", "type": "clause", "offset": [2900, 2909]}, {"key": "day-dividend-period", "type": "clause", "offset": [3108, 3127]}, {"key": "in-addition", "type": "clause", "offset": [3129, 3140]}, {"key": "in-the-event", "type": "clause", "offset": [3142, 3154]}, {"key": "sufficient-clearing-bids", "type": "definition", "offset": [3155, 3179]}, {"key": "not-held", "type": "definition", "offset": [3228, 3236]}, {"key": "for-any-reason", "type": "clause", "offset": [3237, 3251]}, {"key": "null-and-void", "type": "definition", "offset": [3456, 3469]}, {"key": "unforeseen-events", "type": "clause", "offset": [3629, 3646]}, {"key": "a-day", "type": "definition", "offset": [3653, 3658]}, {"key": "length-of-the", "type": "clause", "offset": [3768, 3781]}, {"key": "relating-to", "type": "definition", "offset": [3798, 3809]}, {"key": "a-multiple", "type": "clause", "offset": [3873, 3883]}, {"key": "extension-period", "type": "definition", "offset": [3954, 3970]}, {"key": "applicable-rate", "type": "definition", "offset": [3978, 3993]}], "size": 2, "snippet": "In making such determination the Broker-Dealer(s) will consider (1) existing short-term and long-term market rates and indices of such short-term and long-term rates, (2) existing market supply and demand for short-term and long-term securities, (3) existing yield curves for short-term and long-term securities comparable to the Preferred Shares, (4) industry and financial conditions which may affect the Preferred Shares, (5) the investment objectives of the Trust, and (6) the Dividend Periods and dividend rates at which current and potential beneficial holders of the Preferred Shares would remain or become beneficial holders. After providing the Request for Special Dividend Period to the Auction Agent and each Broker-Dealer as set forth above, the Trust may by no later than the second Business Day prior to such Auction Date give a notice (a \"Notice of Special Dividend Period\") to the Auction Agent, the Securities Depository and each Broker-Dealer which notice will specify (i) the duration of the Special Dividend Period, (ii) the Optional Redemption Price as specified in the related Response and (iii) the Specific Redemption Provisions, if any, as specified in the related Response. The Trust also shall provide a copy of such Notice of Special Dividend Period to Fitch, Moody's and any Substitute Rating Age\u2587\u2587\u2587. \u2587\u2587e Trust shall not give a Notice of Special Dividend Period and, if the Trust has given a Notice of Special Dividend Period, the Trust is required to give telephonic and written notice of its revocation (a \"Notice of Revocation\") to the Auction Agent, each Broker-Dealer, and the Securities Depository on or prior to the Business Day prior to the relevant Auction Date if (x) either the 1940 Act Preferred Shares Asset Coverage is not satisfied or the Trust shall fail to maintain both Fitch Preferred Shares Asset Coverage and Moody's Preferred Shares Asset Covera\u2587\u2587, \u2587\u2587 each of the two Valuation Dates immediately preceding the Business Day prior to the relevant Auction Date on an actual basis and on a pro forma basis giving effect to the proposed Special Dividend Period (using as a pro forma dividend rate with respect to such Special Dividend Period the dividend rate which the Broker-Dealers shall advise the Trust is an approximately equal rate for securities similar to the Preferred Shares with an equal dividend period) or (y) sufficient funds for the payment of dividends payable on the immediately succeeding Dividend Payment Date have not been irrevocably deposited with the Auction Agent by the close of business on the third Business Day preceding the Auction Date immediately preceding such Dividend Payment Date. The Trust also shall provide a copy of such Notice of Revocation to Fitch, Moody's and any Substitute Rating Age\u2587\u2587\u2587. \u2587\u2587 the Trust is prohibited from giving a Notice of Special Dividend Period as a result of any of the factors enumerated in clause (x) or (y) above or if the Trust gives a Notice of Revocation with respect to a Notice of Special Dividend Period for any series of Preferred Shares, the next succeeding Dividend Period will be a 7-Day Dividend Period. In addition, in the event Sufficient Clearing Bids are not made in an Auction, or if an Auction is not held for any reason, such next succeeding Dividend Period will be a 7-Day Dividend Period and the Trust may not again give a Notice of Special Dividend Period for the Preferred Shares (and any such attempted notice shall be null and void) until Sufficient Clearing Bids have been made in an Auction with respect to a 7-Day Dividend Period. If an Auction is not held because an unforeseen event or unforeseen events cause a day that otherwise would have been a Dividend Payment Date or an Auction Date not to be a Business Day, then the length of the Dividend Period relating to such Dividend Payment Date shall be extended by seven days (or a multiple thereof if necessary because of such unforeseen event or events) (an \"Extension Period\"), the Applicable Rate for such Extension Period shall be the Applicable Rate for the Dividend Period so extended and the Dividend Payment Date for such Dividend Period shall be the first Business Day next succeeding the end of such Extension Period.", "samples": [{"hash": "5OKUfYuYgg", "uri": "/contracts/5OKUfYuYgg#auction-date", "label": "Bylaws (Pimco Corporate Income Fund)", "score": 18.4791238877, "published": true}], "hash": "f596a91dbdddd5f5c8cbdd63cf91de15", "id": 3}, {"snippet_links": [], "size": 2, "snippet": "December 15, 2020", "samples": [{"hash": "cqmHTSFYYKt", "uri": "/contracts/cqmHTSFYYKt#auction-date", "label": "Purchase Agreement", "score": 31.9494703206, "published": true}], "hash": "c89eae201bb6de8ae2ad181d76c55309", "id": 4}, {"snippet_links": [{"key": "the-property", "type": "clause", "offset": [0, 12]}, {"key": "public-auction", "type": "clause", "offset": [29, 43]}, {"key": "november-15", "type": "clause", "offset": [64, 75]}, {"key": "in-writing", "type": "clause", "offset": [126, 136]}, {"key": "time-and-location", "type": "clause", "offset": [147, 164]}], "size": 1, "snippet": "The Property will be sold at public auction, to be conducted on November 15, 2017 @ 10:00 am or an alternate date agreed upon in writing, and at a time and location to be reasonably agreed upon by \u2587\u2587\u2587\u2587\u2587\u2587, Auctioneer, and Owner.", "samples": [{"hash": "9KWCL2NMudm", "uri": "/contracts/9KWCL2NMudm#auction-date", "label": "Contract for Sale of Real Estate", "score": 24.7358007815, "published": true}], "hash": "b591f865b9aa0f4a0a1fe7a73a9ba6a5", "id": 5}, {"snippet_links": [{"key": "date-of", "type": "clause", "offset": [4, 11]}, {"key": "the-auction", "type": "definition", "offset": [12, 23]}, {"key": "at-the-time", "type": "clause", "offset": [32, 43]}, {"key": "sale-at-auction", "type": "clause", "offset": [83, 98]}, {"key": "the-seller", "type": "clause", "offset": [107, 117]}, {"key": "the-real-estate", "type": "clause", "offset": [121, 136]}], "size": 1, "snippet": "The date of the auction will be at the time set forth in the listing agreement for sale at auction between the seller of the Real Estate (the \u201cSeller\u201d) and McCurdy. (the \u201cAuction Date\u201d).", "samples": [{"hash": "5pVX04gKmUe", "uri": "/contracts/5pVX04gKmUe#auction-date", "label": "Auction Referral Agreement", "score": 29.9001977041, "published": true}], "hash": "9cebe11ff4a0721e367fcc5f4acbe641", "id": 6}, {"snippet_links": [{"key": "whenever-the-trust", "type": "clause", "offset": [0, 18]}, {"key": "additional-amounts", "type": "definition", "offset": [42, 60]}, {"key": "in-section-3", "type": "clause", "offset": [87, 99]}, {"key": "the-certificate", "type": "clause", "offset": [113, 128]}, {"key": "the-auction-agent", "type": "definition", "offset": [152, 169]}, {"key": "amounts-to-be", "type": "clause", "offset": [189, 202]}, {"key": "dividend-payment-date", "type": "clause", "offset": [284, 305]}, {"key": "securities-depository", "type": "clause", "offset": [398, 419]}, {"key": "beneficial-owners", "type": "definition", "offset": [502, 519]}], "size": 1, "snippet": "Whenever the Trust intends to include any additional amounts in a dividend as provided in Section 3 of Part I of the Certificate, the Trust will notify the Auction Agent of such additional amounts to be so included in such dividend at least five Business Days prior to the applicable Dividend Payment Date. Whenever the Auction Agent receives such notice from the Trust, in turn it will notify the Securities Depository and BD, who, on or prior to the applicable Dividend Payment Date, will notify its Beneficial Owners.", "samples": [{"hash": "6XB1eJ6u8Ku", "uri": "/contracts/6XB1eJ6u8Ku#auction-date", "label": "Broker Dealer Agreement (Kemper Strategic Municipal Income Trust)", "score": 18.0, "published": true}], "hash": "00163dc691d2d3c15351a13f4b621ee9", "id": 7}, {"snippet_links": [{"key": "the-auction", "type": "definition", "offset": [80, 91]}, {"key": "extension-of", "type": "clause", "offset": [126, 138]}, {"key": "an-additional", "type": "clause", "offset": [147, 160]}, {"key": "additional-bids", "type": "clause", "offset": [184, 199]}, {"key": "close-of-auction", "type": "definition", "offset": [210, 226]}, {"key": "paragraph-16", "type": "clause", "offset": [232, 244]}, {"key": "soft-close", "type": "clause", "offset": [265, 275]}], "size": 1, "snippet": "Monday, June 10th at 11AM (EST). Each bid received within the last 2 minutes of the auction ending will initiate an automatic extension of auction an additional 2 minutes allowing for additional bids until the close of auction. See Paragraph 16 that addresses the \u201cSOFT CLOSE\u201d.", "samples": [{"hash": "bnGxIIiftm4", "uri": "/contracts/bnGxIIiftm4#auction-date", "label": "Auction Bidders Agreement", "score": 33.6689058478, "published": true}], "hash": "9dbb44026e72139c5cbc1d6a4293015b", "id": 8}, {"snippet_links": [{"key": "auction-procedures", "type": "clause", "offset": [5, 23]}], "size": 1, "snippet": "5,39 Auction Procedures............................................... 37", "samples": [{"hash": "lpbmXarGwcl", "uri": "/contracts/lpbmXarGwcl#auction-date", "label": "Broker Dealer Agreement (Prospect Street High Income Portfolio Inc)", "score": 18.0, "published": true}], "hash": "f4620dd92b94daa2ffbe87a84622c309", "id": 9}, {"snippet_links": [{"key": "the-undersigned", "type": "clause", "offset": [311, 326]}, {"key": "on-behalf-of", "type": "clause", "offset": [370, 382]}], "size": 1, "snippet": "ISSUE: ___________________ SERIES: _________ ------------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------------ THE UNDERSIGNED Broker-Dealer SUBMITS THE FOLLOWING ORDERS ON BEHALF OF THE BIDDER(S)", "samples": [{"hash": "h63wnSfsmxu", "uri": "/contracts/h63wnSfsmxu#auction-date", "label": "Broker Dealer Agreement (Nuveen Real Estate Income Fund)", "score": 18.0, "published": true}], "hash": "9077bf69586d5fcce7c25af9d7beba23", "id": 10}], "next_curs": "ClUST2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjELEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhVhdWN0aW9uLWRhdGUjMDAwMDAwMGEMogECZW4YACAA", "clause": {"size": 24, "parents": [["defined-terms", "Defined Terms"], ["definitions", "Definitions"], ["affirmative-covenants", "AFFIRMATIVE COVENANTS"], ["entire-agreement", "Entire Agreement"], ["miscellaneous", "Miscellaneous"]], "children": [], "title": "Auction Date", "id": "auction-date", "related": [["origination-date", "Origination Date", "Origination Date"], ["working-day-before-auction-date", "WORKING DAY BEFORE AUCTION DATE", "WORKING DAY BEFORE <strong>AUCTION DATE</strong>"], ["auction", "Auction", "Auction"], ["payment-date", "Payment Date", "Payment Date"], ["determination-date", "Determination Date", "Determination Date"]], "related_snippets": [], "updated": "2025-07-07T16:38:45+00:00", "also_ask": [], "drafting_tip": "", "explanation": "The Auction Date clause establishes the specific date on which an auction will take place. It typically outlines when and where the auction will be held, and may include provisions for rescheduling in case of unforeseen circumstances. By clearly defining the timing of the auction, this clause ensures all parties are aware of the schedule, reducing confusion and facilitating proper preparation for the event."}, "json": true, "cursor": ""}}