Common use of RESERVE PRICE AND BIDDING AT AUCTION Clause in Contracts

RESERVE PRICE AND BIDDING AT AUCTION. CONDITIONS OF SALE (a) This sale is made by ALLIANCE BANK MALAYSIA BERHAD (“Assignee”) in exercise of the rights and powers conferred upon the Assignee pursuant to the Facility Agreement, Deed of Assignment And Power of Attorney all dated the 14th day of February, 2014 and such other security documents executed by Xxx Xxxx Xxxx (“Assignor/Borrower”) in favour of the Assignee (collectively, “Security Documents”) subject to all liabilities, obligations, conditions and category of land use, express or implied or imposed upon or relating to or affecting the property (“Property”) and shall further subject to the reserve price (“Reserve Price”) and the conditions of sale as appearing in the Proclamation of Sale. (b) The Auctioneer reserves the right to regulate the bidding and shall have the sole right to refuse any bid or bids without giving any reason for such refusal. (c) The Auctioneer reserves the right to fix the amount of bid at the time the Property is put up for sale. Subject to the Reserve Price, the Auctioneer shall fix the sum to commence bidding and regulate the advance of each subsequent bid. (d) No bid shall be less than the last previous bid and each bid shall be increased by a minimum amount to be determined by the Auctioneer at the time the Property is put up for sale. (e) The Auctioneer shall have the absolute right to withdraw the Property for sale at any time before the fall of the hammer and either after or without declaring the Reserve Price. (f) In case of any dispute as to any bid, the Auctioneer may at his own option forthwith determine the dispute or put the Property up again for sale or put the Property at the last undisputed bid or withdraw the Property from the auction sale. The Auctioneer's decision thereon and on all other matters not provided for in these Conditions of Sale shall be final and conclusive in all respects if such decision is made during the course of conducting the auction. (g) Subject to these Conditions of Sale and particularly to the Reserve Price, the highest bidder being so allowed or determined by the Auctioneer shall be the Purchaser. (h) No bid shall be retracted or withdrawn. In the event any bidder makes a bid but withdraws the same before the fall of the hammer:- (i) the said bidder shall have his/her/their deposit equivalent to 10% of the Reserve Price ("Bidding Deposit") forfeited forthwith to the Assignee/Bank; (ii) the said bidder shall not be entitled to nor have any or further reimbursements, claims and demands whatsoever in nature and howsoever caused against the Assignee/Bank, the Assignee/Bank's Solicitors, the Auctioneer or their respective servants or agents or any other party on account thereof; and (iii) the Property shall at the option of the Assignee/Bank be put up for sale again at a time, place and reserve price to be fixed by the Assignee/Bank at its sole discretion or the Assignee/Bank may decide to adjourn the auction sale to another date. (i) In the event the subject matter offered for auction comprises more than one (1) property, the Auctioneer shall have the right to:- (i) determine or vary the order of sale; (ii) offer the properties for sale either individually or en bloc or in any combination / manner as determined by the Auctioneer; and/or (iii) withdraw any of the properties from the sale.

RESERVE PRICE AND BIDDING AT AUCTION. CONDITIONS OF SALE (a) This sale is made by ALLIANCE BANK MALAYSIA BERHAD Alliance Bank Malaysia Berhad the (“AssigneeAssignee/ Bank”) in exercise of the rights and powers conferred upon the Assignee pursuant to the Facility Agreement, Deed of Assignment And (Third Party Assignment) and Power of Attorney (First/Third Party Assignment) all dated Dated the 14th day 18th of February, 2014 2013 and such other security documents executed by Xxxxxx Xxx Xxxx Xxxxx Xxxx (“Assignor/BorrowerAssignor(s) / Xxxxxxxx(s)”) & Xxxxxxxx Xxx Xxx May (“Assignor(s) in favour of the Assignee (collectively, “Security Documents”) subject to all liabilities, obligations, conditions and category of land use, express or implied or imposed upon or relating to or affecting the property (“Property”) and shall further subject to the reserve price (“Reserve Price”) and the conditions of sale as appearing in the Proclamation of Sale. (b) The Auctioneer reserves the right to regulate the bidding and shall have the sole right to refuse any bid or bids without giving any reason for such refusal. (c) The Auctioneer reserves the right to fix the amount of bid at the time the Property is put up for sale. Subject to the Reserve Price, the Auctioneer shall fix the sum to commence bidding and regulate the advance of each subsequent bid. (d) No bid shall be less than the last previous bid and each bid shall be increased by a minimum amount to be determined by the Auctioneer at the time the Property is put up for sale. (e) The Auctioneer shall have the absolute right to withdraw the Property for sale at any time before the fall of the hammer and either after or without declaring the Reserve Price. (f) In case of any dispute as to any bid, the Auctioneer may at his own option forthwith determine the dispute or put the Property up again for sale or put the Property at the last undisputed bid or withdraw the Property from the auction sale. The Auctioneer's decision thereon and on all other matters not provided for in these Conditions of Sale shall be final and conclusive in all respects if such decision is made during the course of conducting the auction. (g) Subject to these Conditions of Sale and particularly to the Reserve Price, the highest bidder being so allowed or determined by the Auctioneer shall be the Purchaser. (h) No bid shall be retracted or withdrawn. In the event any bidder makes a bid but withdraws the same before the fall of the hammer:- (i) the said bidder shall have his/her/their deposit equivalent to 10% of the Reserve Price ("Bidding Deposit") forfeited forthwith to the Assignee/Bank; (ii) the said bidder shall not be entitled to nor have any or further reimbursements, claims and demands whatsoever in nature and howsoever caused against the Assignee/Bank, the Assignee/Bank's Solicitors, the Auctioneer or their respective servants or agents or any other party on account thereof; and (iii) the Property shall at the option of the Assignee/Bank Assignee be put up for sale again at a time, place and reserve price to be fixed by the Assignee/Bank Assignee at its sole discretion or the Assignee/Bank Assignee may decide to adjourn the auction sale to another date. (i) In the event the subject matter offered for auction comprises more than one (1) property, the Auctioneer shall have the right to:- (i) determine or vary the order of sale; (ii) offer the properties for sale either individually or en bloc or in any combination / manner as determined by the Auctioneer; and/or (iii) withdraw any of the properties from the sale.

RESERVE PRICE AND BIDDING AT AUCTION. CONDITIONS OF SALE (a) This sale is made by ALLIANCE BANK MALAYSIA BERHAD (“Assignee/Bank”) in exercise of the rights and powers conferred upon the Assignee Assignee/Bank pursuant to the Facility Agreement, Deed of Assignment (First Party Assignment) And Power of Attorney (First/Third Party) all dated the 14th 9th day of FebruarySeptember, 2014 2013 and such other security documents executed by Xx Xxx Xxxx & Ee Xx Xxxx (“AssignorAssignors/Borrower”Borrowers) in favour of the Assignee Assignee/Bank (collectively, “Security Documents”) subject to all liabilities, obligations, conditions and category of land use, express or implied or imposed upon or relating to or affecting the property (“Property”) and shall further subject to the reserve price (“Reserve Price”) and the conditions of sale as appearing in the Proclamation of Sale. (b) The Auctioneer reserves the right to regulate the bidding and shall have the sole right to refuse any bid or bids without giving any reason for such refusal. (c) The Auctioneer reserves the right to fix the amount of bid at the time the Property is put up for sale. Subject to the Reserve Price, the Auctioneer shall fix the sum to commence bidding and regulate the advance of each subsequent bid. (d) No bid shall be less than the last previous bid and each bid shall be increased by a minimum amount to be determined by the Auctioneer at the time the Property is put up for sale. (e) The Auctioneer shall have the absolute right to withdraw the Property for sale at any time before the fall of the hammer and either after or without declaring the Reserve Price. (f) In case of any dispute as to any bid, the Auctioneer may at his own option forthwith determine the dispute or put the Property up again for sale or put the Property at the last undisputed bid or withdraw the Property from the auction sale. The Auctioneer's decision thereon and on all other matters not provided for in these Conditions of Sale shall be final and conclusive in all respects if such decision is made during the course of conducting the auction. (g) Subject to these Conditions of Sale and particularly to the Reserve Price, the highest bidder being so allowed or determined by the Auctioneer shall be the Purchaser. (h) No bid shall be retracted or withdrawn. In the event any bidder makes a bid but withdraws the same before the fall of the hammer:- (i) the said bidder shall have his/her/their deposit equivalent to 10% of the Reserve Price ("Bidding Deposit") forfeited forthwith to the Assignee/Bank; (ii) the said bidder shall not be entitled to nor have any or further reimbursements, claims and demands whatsoever in nature and howsoever caused against the Assignee/Bank, the Assignee/Bank's Solicitors, the Auctioneer or their respective servants or agents or any other party on account thereof; and (iii) the Property shall at the option of the Assignee/Bank be put up for sale again at a time, place and reserve price to be fixed by the Assignee/Bank at its sole discretion or the Assignee/Bank may decide to adjourn the auction sale to another date. (i) In the event the subject matter offered for auction comprises more than one (1) property, the Auctioneer shall have the right to:- (i) determine or vary the order of sale; (ii) offer the properties for sale either individually or en bloc or in any combination / manner as determined by the Auctioneer; and/or (iii) withdraw any of the properties from the sale.

RESERVE PRICE AND BIDDING AT AUCTION. CONDITIONS OF SALE (a) This sale is made by ALLIANCE BANK MALAYSIA BERHAD (“Assignee/Bank”) in exercise of the rights and powers conferred upon the Assignee Assignee/Bank pursuant to the Facility Agreement, Deed of Assignment And (First Party Assignment) and Power of Attorney (First/Third Party) all dated the 14th 27th day of FebruaryJune, 2014 2013 and such other security documents executed by Xxx Xxxx Xxxx Xxxxxx A/X Xxxxxxxxxxx (“Assignor/Borrower”) in favour of the Assignee Assignee/Bank (collectively, “Security Documents”) subject to all liabilities, obligations, conditions and category of land use, express or implied or imposed upon or relating to or affecting the property (“Property”) and shall further subject to the reserve price (“Reserve Price”) and the conditions of sale as appearing in the Proclamation of Sale. (b) The Auctioneer reserves the right to regulate the bidding and shall have the sole right to refuse any bid or bids without giving any reason for such refusal. (c) The Auctioneer reserves the right to fix the amount of bid at the time the Property is put up for sale. Subject to the Reserve Price, the Auctioneer shall fix the sum to commence bidding and regulate the advance of each subsequent bid. (d) No bid shall be less than the last previous bid and each bid shall be increased by a minimum amount to be determined by the Auctioneer at the time the Property is put up for sale. (e) The Auctioneer shall have the absolute right to withdraw the Property for sale at any time before the fall of the hammer and either after or without declaring the Reserve Price. (f) In case of any dispute as to any bid, the Auctioneer may at his own option forthwith determine the dispute or put the Property up again for sale or put the Property at the last undisputed bid or withdraw the Property from the auction sale. The Auctioneer's decision thereon and on all other matters not provided for in these Conditions of Sale shall be final and conclusive in all respects if such decision is made during the course of conducting the auction. (g) Subject to these Conditions of Sale and particularly to the Reserve Price, the highest bidder being so allowed or determined by the Auctioneer shall be the Purchaser. (h) No bid shall be retracted or withdrawn. In the event any bidder makes a bid but withdraws the same before the fall of the hammer:- (i) the said bidder shall have his/her/their deposit equivalent to 10% of the Reserve Price ("Bidding Deposit") forfeited forthwith to the Assignee/Bank; (ii) the said bidder shall not be entitled to nor have any or further reimbursements, claims and demands whatsoever in nature and howsoever caused against the Assignee/Bank, the Assignee/Bank's Solicitors, the Auctioneer or their respective servants or agents or any other party on account thereof; and (iii) the Property shall at the option of the Assignee/Bank be put up for sale again at a time, place and reserve price to be fixed by the Assignee/Bank at its sole discretion or the Assignee/Bank may decide to adjourn the auction sale to another date. (i) In the event the subject matter offered for auction comprises more than one (1) property, the Auctioneer shall have the right to:- (i) determine or vary the order of sale; (ii) offer the properties for sale either individually or en bloc or in any combination / manner as determined by the Auctioneer; and/or (iii) withdraw any of the properties from the sale.