BIDDING PRICE. 4.1 Prior to the commencement of the auction sale, all persons or parties intending to bid for the property at the auction sale shall be deposit with the Auctioneer a valid Bank Draft or Cashier’s Order drawn of MBSB BANK BERHAD for a sum equivalent to ten per centum (10%) of the Reserve Price (“The Bidding Deposit”). Please refer to the Terms and Conditions on xxxx.xxxxxxxx.xxx.xx for the manner of payment of the deposit. 4.2 The auction sale shall be deemed to have commenced upon being so declared by the Auctioneer. 4.3 Any party failing to deposit the bidding deposit with the Auctioneer within the time and in the manner specified in paragraph 4.1 hereto shall not be permitted to participate at the auction sale. 4.4 Notwithstanding anything herein stated MBSB BANK BERHAD shall be permitted to bid at the auction sale without having to deposit with the Auctioneer the bidding deposit.
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Samples: Loan Agreement, Proclamation of Sale, Proclamation of Sale