Common use of Overbid Protection Clause in Contracts

Overbid Protection. Seller shall seek Bankruptcy Court approval of the following overbid protections: (A) no Bid will be considered by Seller unless it is at least $1,000,000 more than the sum of the (y) Total Consideration, and (z) Break Up Fee; and (B) a provision that Buyer will be credited with, and have added to the aggregate amount of its bid when comparing it to other bids, without duplication, the amount of the Break-Up Fee that will be earned by Buyer under Section 8.2 if it is not the successful bidder for the Acquired Assets.

Overbid Protection. Seller shall seek Bankruptcy Court approval of the following overbid protections: (A) no Bid will be considered by Seller unless it is at least $1,000,000 250,000 more than the sum of the (y) Total Consideration, and (z) Break Up Fee; and (B) a provision that Buyer will be credited with, and have added to the aggregate amount of its bid when comparing it to other bids, without duplication, the amount of the Break-Up Fee that will be earned by Buyer under Section 8.2 if it is not the successful bidder for the Acquired Assets.

Overbid Protection. Seller Sellers shall seek Bankruptcy Court approval of the following overbid protections: (A) no Bid will be considered by Seller Sellers unless it is at least $1,000,000 150,000 more than the sum of the (yx) Total Consideration, (y) Break Up Fee and (z) Break Up FeeExpense Reimbursement; and (B) a provision that Buyer will be credited with, and have added to the aggregate amount of its bid when comparing it to other bids, without duplication, the amount of the Break-Up Fee and the Expense Reimbursement that will be earned by Buyer under Section 8.2 if it is not the successful bidder for the Acquired Assets.