RESTRICTED TENDERS Sample Clauses
The Restricted Tenders clause defines a procurement process in which only selected suppliers or contractors are invited to submit bids for a project or contract. In practice, this means that instead of opening the tender to the general public, the contracting party identifies a shortlist of qualified or pre-approved entities who are then asked to participate. This approach is often used when specialized expertise is required, when time constraints exist, or to ensure a higher level of quality and reliability among bidders. The core function of this clause is to streamline the tendering process and manage risk by limiting participation to trusted or vetted parties.
RESTRICTED TENDERS. Invitation to Bids are circulated among the registered suppliers with Ministry of Defence (MOD), only bids submitted by registered suppliers will be allowed for consideration. However, Chairman, Department Procurement Committee reserves the right to invite the bids from multiple combinations of Procurement Methods as stipulated in Chapter III of the Government Procurement Guideline, 2006 to ensure highest competitiveness.
RESTRICTED TENDERS. The Company will not, prior to the completion of an initial Business Combination, enter into a Business Combination transaction that requires, as a condition to closing, that (A) the Company tenders for or repurchases any of the Public Warrants (i) within 12 months of the closing of the Public Offering at a price less than $1.50 per Public Warrant; (ii) between 12 months and 18 months from the closing of the Public Offering at a price less than $2.25 per Public Warrant; and (iii) between 18 months and 24 months from the closing of the Public Offering at a price less than $3.00 per Public Warrant (such per warrant amounts to be adjusted for stock splits, reverse stock splits, combinations or similar transactions), or (B) the Company to amend the Public Warrants so as to result in a value per Warrant less than the dollar amounts set forth in clause (A) immediately above in the time periods set forth in clause (A) immediately above. Any such non-cash value shall be determined by an investment bank or financial advisor of national standing chosen by the Company. An amendment to this section will require the consent from each holder of Public Warrants.