AUCTION PROCEDURE. 2.1. The sale of the PROPERTY is through the auction sales method. The auction procedure and conditions of sale are defined in the Rules of Auction as included in the bidders’ registration card and auction catalogue.
AUCTION PROCEDURE. 1.1. The rules of this auction shall comply with the provisions of Section 45 and all relevant regulations to the Consumer Protection Act No 68 of 2008.
AUCTION PROCEDURE. 1.1 The Sale by auction is subject to:
AUCTION PROCEDURE. For the allocation of Available Capacity on the Austria-Slovenia Interconnection during the Interim Period:
AUCTION PROCEDURE. If the sum of all Bids submitted for a given Auction falls short of or equals the total Interconnection Capacity, no Clearing Price is charged to the PTR holder. If the sum of all Bids submitted for a given Auction strictly exceeds the Interconnection Capacity, a Clearing Price is charged to the PTR holder. For this purpose, the Bids are sorted out by the criterion price/time stamp, starting with the highest price and ending with the lowest one. Should several bids have the same price, the priority shall be given to Bids with earlier time stamp. The requested Interconnection Capacities of the Bids are added up. Up to the Bid (marginal Bid), which represents the level above which the sum of the Interconnection Capacity requested by the Auction participants strictly exceeds the Interconnection Capacity. Each Auction participant receives the Interconnection Capacity requested at the price of this marginal Bid in form of a PTR. In cases where several Bids have the same price, the priority shall be given to Bids with earlier time stamp. The Clearing Price determined according to the above principle is used as a basis for calculating the charges for Interconnection Capacity Price and apply to all PTR holders. PTRs are considered to have been awarded to a successful PTR holder at the moment that PTR holder has been informed by the respective Auction Operator. ANNEX 2: Scheduled dates of the yearly and monthly auctions in 2010 (indicative) Yearly Auction Date (indicative) Year 2010 Publication of Auction Specifications Auction Day Publication of Auction Results 03.12.2009 10.12.2009 14.12.2009 Monthly Auctions Date (indicative) January 2010 Publication of Auction Specifications Auction Day 10.12.2009 15.12.2009 February 2010 Publication of Auction Specifications Auction Day 08.01.2010 13.01.2010 March 2010 Publication of Auction Specifications Auction Day 11.02.2010 16.02.2010 April 2010 Publication of Auction Specifications Auction Day 11.03.2010 16.03.2010 May 2010 Publication of Auction Specifications Auction Day 08.04.2010 13.04.2010 June 2010 Publication of Auction Specifications Auction Day 07.05.2010 12.05.2010 July 2010 Publication of Auction Specifications Auction Day 10.06.2010 15.06.2010 August 2010 Publication of Auction Specifications Auction Day 09.07.2010 14.07.2010 September 2010 Publication of Auction Specifications Auction Day 12.08.2010 17.08.2010 October 2010 Publication of Auction Specifications Auction Day 10.09.2010 15.09.2010 November 2010 ...
AUCTION PROCEDURE. On any Business Day, the Seller may request the Agent, on behalf of the Company and the Bank Investors, to conduct an auction with respect to the Pledged Interest and the interest in the Secured Note represented by all or a specified portion (such portion to have been specified by the Pledgors) of the Receivables and the Related Security on the terms and conditions set forth herein. With respect to any such auction, the Agent shall accept the highest bid submitted so long as (i) at least two bids are received, and at least one bid is made by a Person that is not a Pledgor or an Affiliate of the Pledgors, (ii) the highest such bid shall be at least equal to the amount necessary so that after giving effect to the application of such proceeds to pay Net Investment and other Aggregate Unpaids, the remaining Net Investment and Net Receivables Balance will be such that the Percentage Factor will not exceed the Maximum Percentage Factor and (iii) the highest such bid shall in addition not be less than the principal component of the Company's maturing Commercial Paper which was issued to fund the portion of the Net Investment relating to the Receivables being auctioned or the principal component subject to the Tranche Period otherwise utilized by the Company or the Bank Investors to fund such portion of the Net Investment, as applicable plus all unreimbursed Servicer Advances and all Discount associated with the Tranche Periods utilized to fund such portion of the Net Investment, as well as all other Carrying Costs related to the auctioned Contracts accrued through the date of such reassignment. The Pledgors shall be entitled to notification of the amount of the highest qualifying bid for any such auction and either or both Pledgors, or any Affiliate thereof, shall be entitled to purchase the auctioned portion of the Pledged Interest for an amount equal to such highest bid. The method, manner, time, place and terms of any such auction shall be commercially reasonable. The Pledgors shall also be obligated to pay to the Agent the Agent's reasonable legal fees and expenses incurred in connection with any such auction and any Early Collection Fees in connection with such auction. Upon the deposit to the Collection Account and the payment to the Company of the amounts described in this Section, the 57 63 Agent shall execute and deliver to the Person so acquiring the Receivables at such Person's expense, such documents or instruments as are necessary to terminate the Ag...
AUCTION PROCEDURE. The Available Transmission Capacity (ATC) on each interconnection is offered by the respective Auction Operator in form of Physical Transmission Rights (PTRs). The auctioning of Interconnec- tion Capacity is not a commercially motivated activity but one aimed at providing a transparent market based method of congestion management. The importance of the interconnections for the liberalization of the electricity market requires a strict policy with regard to the collection of payments and default consequences. For the allocation of ATC on the Slovenia-Croatia Interconnection: − ELES operates as Auction Operator for Yearly, Monthly and Daily capacities allocation in direction from Croatia to Slovenia. − HEP OPS operates as Auction Operator for Yearly, Monthly and Daily capacities allocation in direction from Slovenia to Croatia. − For Intraday capacities allocation for both directions (from Croatia to Slovenia and from Slovenia to Croatia) ELES operates as Auction Operator. All relevant information related to allocation of PTRs is made available on the Auction Website and/or Auction Tool/Auction System of the Auction Operator according to this Auction Rules.
AUCTION PROCEDURE. 1.1.1 The sale shall be subject to the control of the AUCTIONEER who shall have the sole right to regulate the bidding procedure.
AUCTION PROCEDURE. On the Initial Auction Date, each Principal Stockholder shall initiate the bidding process by delivering simultaneously to the other Principal Stockholder a written offer (the “INITIAL OFFER”) which sets forth its valuation of the outstanding Common Stock of the Company, taken as a whole. The higher of the valuations shall constitute the initial bid. Such initial bid and each subsequent valuation must be met in turn, within forty-eight (48) hours following delivery thereof, by either acceptance or delivery of a written counteroffer. Each counteroffer after the initial bid must be in a minimum amount equal to the lesser of (a) the amount that is five percent (5%) higher than the preceding bid (on a percentage basis) and (b) the amount that is $10,000.00 higher than the preceding bid. Any failure to respond within forty-eight (48) hours of delivery of a bid as provided above shall be deemed to constitute an irrevocable and unconditional acceptance of that bid. This bidding process shall continue until one Principal Stockholder accepts the other Principal Stockholder’s latest valuation, either affirmatively or by failing to make a counteroffer (such final valuation, the “FINAL AUCTION PRICE”).
