Bid Conditions Clause Samples
The Bid Conditions clause sets out the specific requirements and rules that govern the submission and evaluation of bids in a procurement or tender process. It typically outlines eligibility criteria, submission deadlines, required documentation, and procedures for clarifying or amending bids. By clearly defining these parameters, the clause ensures a fair and transparent process, minimizing disputes and misunderstandings among bidders.
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Bid Conditions. (a) Subject to clause 4.9(c), each party must use all reasonable endeavours to satisfy the Bid Conditions as soon as practicable after the date of this agreement.
(b) Subject to clause 4.9(c), each party agrees not to do, or omit to do, anything which will, or is likely to, result in any of the Bid Conditions being breached.
(c) Nothing in this clause 4.9 prevents the Target or the Board from taking, or failing to take, action where to do otherwise would, in the opinion of the Board (determined in good faith), constitute a breach of the Directors’ fiduciary or statutory duties.
(d) Each party must promptly notify the other if it becomes aware that any Bid Condition has been satisfied. If any event occurs or becomes apparent which would cause any of the Bid Conditions to be breached or cause satisfaction of them to be unreasonably delayed, each party must, to the extent that the party is actually aware of such information, immediately notify the other party of that event.
(e) A reference in this clause 4.9 to a Bid Condition being breached includes a reference to the Bid Condition not being, or not being capable of being, satisfied.
Bid Conditions. (a) Subject to clause 3.8(b), the Target agrees not to do (or omit to do) anything which will, or is likely to, result in any of the Bid Conditionsbeing breached, or not being, or not being capable of being, satisfied.
(b) Nothing in this clause 3.8 prevents the Target or the Target Board from taking, or failing to take, any action where to do otherwise would, in the opinion of the Target Board (determined in good faith have obtained external legal advice), constitute a breach of the Target Directors' fiduciary or statutory duties.
(c) If any event occurs or becomes apparentwhich would cause any of the Bid Conditions to be breac hedor cause satisfaction of them to be unreasonably delayed, each Party must , to the extent that the Party is actually aware of such information, immediately notify the other Party of that event.
Bid Conditions. (a) Until the end of the day which is 3 Business Days after the end of the Bid Offer Period, the Target must not, and must procure that each of its Subsidiaries does not, take (or fail to take) any action or otherwise do (or fail to do) anything that might cause the non-fulfilment of any Bid Condition.
(b) Subject to this document, nothing in this clause 2.9 prevents the Target or the Target Directors from taking, or failing to take, action where to do otherwise would or is reasonably likely to, in the reasonable opinion of the Target Directors, acting in good faith and having obtained legal advice, constitute a breach of the legal obligations or fiduciary duties of the directors of the Target.
(c) To avoid any doubt, in this document, a reference to a Bid Condition being breached includes a reference to a Bid Condition not being, or not being capable of being, satisfied or fulfilled.
(d) If any event occurs or becomes apparent to a party which would cause any of the Bid Conditions to be breached or not satisfied or fulfilled, that party must, to the extent that it is actually aware of such information, immediately notify the other party in writing of the event and any associated information with regard to that event.