Procedure for Purchase. Preference in procurement of goods or works which are not divisible in nature and in procurement of services where the bid is evaluated on price alone: APPLICABLE FOR THE SUBJECT TENDER
i. Among all qualified bids, the lowest bid will be termed as L1. If L1 is from a local supplier, the contract will be awarded to L1.
ii. If L1 is not from a local supplier, the lowest bidder among the local suppliers will be invited to match the L1 price subject to local supplier's quoted price falling within the margin of purchase preference, and the contract shall be awarded to such local supplier subject to matching the L1 price.
iii. In case such lowest eligible local supplier fails to match the L1 price, the local supplier with the next higher bid within the margin of purchase preference shall be invited to match the L1 price and so on and contract shall be awarded accordingly.
iv. In case none of the local suppliers within the margin of purchase preference matches the L1 price, then the contract may be awarded to the L1 bidder.
Procedure for Purchase. At any time and from time to time until the termination of this Agreement, the Buyer may request the Purchasing Agent (i) to solicit from Dealers offers to sell to Buyer Qualified Contracts and Qualified Contract Pools, or (ii) to offer to sell to Buyer Qualified Contract and Qualified Contract Pools, from the portfolio of Contracts owned by Purchasing Agent, which portfolio may include Contracts purchased by Purchasing Agent from affiliates of Sovereign. Purchasing Agent shall be obligated to use reasonable efforts to solicit from Dealers offers to sell to Buyer Qualified Contracts and Qualified Contract Pools as soon as practicable following any such request by the Company. In addition, in deciding whether to offer to sell Qualified Contracts to the Buyer or any other purchaser who is affiliated or not affiliated with the Purchasing Agent and for whom Purchasing Agent is also purchasing Contracts, the Purchasing Agent shall select such Contracts from the Qualified Contracts that are or become available for purchase, such selection to be based upon the respective periods of time the purchasing entities have been in existence, the cost of the available Contracts, the amount of their unexpended funds and the need to diversify their holdings; provided, however, that Purchasing Agent shall give priority to purchases on behalf of the limited purpose, securitization subsidiaries of Sovereign (whether of Sovereign Credit Corporation or its parent, Sovereign Credit Holdings, Inc.), including Buyer, over purchases on behalf of Sovereign or Purchasing Agent. Purchasing Agent reserves the right to offer to sell Qualified Contract Pools to the parties for which it purchases Contracts on any other basis that it deems to be equitable. The Buyer shall be obligated to purchase from Dealers through the Purchasing Agent or from the Purchasing Agent or Sovereign affiliates any Contracts properly offered for sale to it, in accordance with the terms of this Agreement, up to a maximum aggregate Purchase Price that may be specified by the Buyer in its request, if such Contracts constitute Qualified Contracts and/or Qualified Contract Pools. Payment of the purchase price by Buyer shall be made at the time of the sale to Buyer from Purchasing Agent or Dealer or the purchase by Purchasing Agent on Buyer's behalf of each Purchased Contract. At all times during the term of this Agreement, Buyer shall retain the right to audit any or all Purchased Contracts and/or Purchased Contract ...
Procedure for Purchase. In the event the Adoption Agreement has provided for the purchase of policies, the Trustees, upon direction from the Plan Administrator, shall purchase policies ratably on behalf of all Participants. All policies shall have an issue date specified in the Adoption Agreement. However, no provision of this Article XII shall be construed as creating a right to an insured death benefit on behalf of any Participant or Beneficiary until and unless a policy on his life has actually been purchased, and a Participant's death benefit shall only include proceeds of policies in force on the date of his death.
Procedure for Purchase. (a) At any time and from time to time until the termination of this Agreement, the Buyer may request TFC to solicit from Dealers Receivables and Receivable pools. TFC shall be obligated to use reasonable efforts to solicit from Dealers Receivables and Receivable pools as soon as practicable following any such request by the Buyer. Buyer shall purchase Receivables pursuant to a Transfer Agreement reasonably satisfactory to the Buyer.
(b) Payment of the purchase price by Buyer shall be made at the time of the purchase by TFC on Buyer's behalf of each Purchased Receivable. At all times during the term of this Agreement, Buyer shall retain the right to audit any or all Purchased Receivables and/or Purchased Receivable Pools for adherence to the terms and conditions of this Agreement. TFC shall cooperate in all material respects with the audit of such Purchased Receivables and/or Purchased Receivable Pools.
Procedure for Purchase. Preference in procurement of goods or works which are divisible in nature: (NOT APPLICABLE FOR THE SUBJECT TENDER)
Procedure for Purchase. In the event Section III.G.1 of the Adoption Agreement has provided for the purchase of policies, the Trustees, upon direction from the Plan Administrator, shall purchase policies ratably on behalf of all Participants. All policies shall have an issue date specified in Section III.G.3 of the Adoption Agreement. However, no provision of this Article XIV shall be construed as creating a right to an insured death benefit on behalf of any Participant or Beneficiary until and unless a policy on his life has actually been purchased, and a Participant's death benefit shall only include proceeds of policies in force on the date of his death.
Procedure for Purchase. 6.1 At the Closing Date, the purchase shall be effected by common stock certificates being delivered for an assignment and xxxx of sale for all assets of MASSTECH as listed on Exhibit A hereto.
Procedure for Purchase. The purchase price for any Shares purchased pursuant to this Section 14 shall be payable, at the option of each Designated Officer, in cash and/or by the delivery to Holdings of a promissory note bearing interest at a rate equal to the lowest Applicable Federal Rate for debt instruments of like maturities, maturing on November 1, 1999, secured to the reasonable satisfaction of the Compensation Committee, and containing such other terms and conditions as the Compensation Committee may approve (all subject to such changes or additional provisions, if any, as may be agreed upon by the Compensation Committee and the particular Designated Officer). Notwithstanding any other provision of this Section 14 to the contrary, (i) Holdings shall not be required to accept promissory
Procedure for Purchase. The closing of the purchase of such ---------------------- shares pursuant to Sections 3(a) and (b) shall occur immediately upon such Optionee's termination of employment or, in the event Optionee purchases Shares after his or her termination of employment, on the date of such purchase by Optionee. Each Optionee hereby agrees and instructs GNP to deliver all Shares subject to this Section 3 to the Corporation upon the occurrence of such termination. The Corporation shall (i) in the event of a purchase pursuant to Section 3(a), pay the Option Price within one year of the delivery of the respective Shares and (ii) in the event of a purchase pursuant to Section 3(b), pay the appropriate purchase price within 90 days of the delivery of the respective Shares.
Procedure for Purchase. 1. The employee is responsible for arranging the computer purchase, using the listed hardware requirements, through a vendor of his/her choice. Employees are encouraged to use City preferred vendors or shop wisely for the best buy. The MIS Manager will maintain a list of the City’s preferred vendors and the hardware available. It is hoped that vendors located in Costa Mesa will be given fair consideration.
2. When a store/vendor is selected, the employee will request that the vendor complete a City of Costa Mesa “Computer Purchase Proposal” verifying the type of hardware and exact price.
3. The employee will submit the completed Computer Purchase Proposal along with a signed Computer Purchase Agreement to his/her Department Director for approval. The Department Director will submit the entire package to the MIS Manager for final approval and processing. The Purchase Proposal will serve as a loan request form and the signed contract will authorize the payroll deduction to begin upon issuance of the loan by the Credit Union.
4. Completion of the purchase transaction is the responsibility of the employee. Any after purchase warranty service/maintenance is the complete responsibility of the employee/owner.
5. All of the necessary forms (Computer Purchase Proposal and Computer Purchase Agreement) will be available from the MIS Division.
6. An employee may purchase approved computer hardware from more than one vendor. In that situation, a Computer Purchase Proposal form must be completed for each vendor. The Employee will also sign a revised Computer Purchase Agreement obligating him/her for the total amount advanced.
7. The employee may have more than one opportunity to participate in this program as long as the value of the loan(s) shall not exceed $3,500 per employee at any given time.
