Return of Good Faith Deposit. In the event that this Agreement is validly terminated pursuant to Section 7.1(a), 7.1(b), 7.1(c), 7.1(e), 7.1(f), 7.1(g), 7.1(h), 7.1(i), or 7.1(j), the Good Faith Deposit Escrow Holder shall disburse to Buyer any amounts held in the Good Faith Deposit Escrow pursuant to the Bidding Procedures.
Return of Good Faith Deposit. The Good Faith Deposits of all Qualified Bidders shall be retained by the Sellers in an interest bearing account and all Qualified Bids will remain open, notwithstanding Bankruptcy Court approval of a sale pursuant to the terms of a Successful Bid by a Qualified Bidder, until 48 hours after the closing of the sale of the Business (the "Return Date"). On the Return Date, the Sellers shall return the Good Faith Deposits of all Qualified Bidders, except the Successful Bidders, with the accrued interest.
Return of Good Faith Deposit. The good faith deposit of all bidders shall be held in escrow by the Debtor, but shall not become property of the Debtor’s estate. The Good Faith deposit shall be returned to each bidder within 48 hours after entry of order approving the sale of assets to another person or entity. 16 17 18 19 20 21 22 23 24 25 26 27 28
Return of Good Faith Deposit. The Good Faith Deposits of all Qualified Bidders (except for the Successful Bidder) will be held in an interest-bearing escrow account and all Qualified Bids will remain open (notwithstanding Bankruptcy Court approval of a sale pursuant to the terms of one or more Successful Bids by one or more Qualified Bidders), until two (2) Business Days following the Closing of the Sale (the “Return Date”). Notwithstanding the foregoing, the Good Faith Deposit, if any, submitted by the Successful Bidder(s), together with interest thereon, will be applied against the payment of the Purchase Price upon Closing of the Sale to the Successful Bidder(s). If a Successful Bidder breaches its obligations under the Bidding Procedures Order or any agreement entered into with respect to its Successful Bid or fails to consummate a sale because of a breach or failure to perform on the part of such Successful Bidder, Delphi will not have any obligation to return the Good Faith Deposit deposited by such Successful Bidder, and such Good Faith Deposit will irrevocably become property of Delphi. On the Return Date, Delphi will return the Good Faith Deposits of all other Qualified Bidders, together with the accrued interest thereon.
Return of Good Faith Deposit. The Debtors shall refund to those Qualified Bidders who are neither the Successful Bidder nor the Second Place Bidder the Good Faith Deposit received from such bidders within ten (10) days after the entry of the Sale Order. The Good Faith Deposits of the bidders who have submitted the Successful Bid and the Second Place Bid, including the Proposed Buyer, if it is the Second Place Bidder, shall be held until the later of (i) 30 days after the Sale Hearing and (ii) consummation of a sale contemplated by a purchase agreement with the Successful Bidder or the Second Place Bidder, as the case may be. The Debtors are under no obligation to earn interest on any Good Faith Deposit.
Return of Good Faith Deposit. Good Faith Deposits of the Winning Bidder(s) shall be applied to the purchase price of such transaction(s) at closing. Good Faith Deposits shall be held in an interest-bearing escrow account until the earlier of (i) two (2) business days after the Assets have been sold pursuant to the closing of a sale approved by the Bankruptcy Court, or (ii) 45 days after the conclusion of the Sale Hearing. If a Winning Bidder(s) fails to consummate an approved sale because of a breach or failure to perform on the part of such Winning Bidder(s), the Debtors shall be entitled to retain the Good Faith Deposit as part of its damages resulting from the breach or failure to perform by the Winning Bidder(s).
Return of Good Faith Deposit. The Good Faith Deposits of all Qualified Bidders (except for the Successful Bidder) will be held in an interest-bearing escrow account and all Qualified Bids (except for the Successful Bidder) will remain open (notwithstanding Bankruptcy Court approval of a sale pursuant to the Successful Bid by a Qualified Bidder), until two (2) Business Days following the Closing of the Sale (the “Return Date”). If a Successful Bidder breaches its obligations under the Bidding Procedures Order or any agreement entered into with respect to its Successful Bid or fails to consummate a sale because of a breach or failure to perform on the part of such Successful Bidder, Delphi will not have any obligation to return the Good Faith Deposit deposited by such Successful Bidder, and such Good Faith Deposit will irrevocably become property of Delphi. On the Return Date, Delphi will return the Good Faith Deposits of all other Qualified Bidders, together with the accrued interest thereon.
Return of Good Faith Deposit. The Good Faith Deposits of all Qualified Bidders will be returned to the Qualified Bidders within five (5) business days after the day on which the Successful Bidder is chosen, except for (i) the next highest or otherwise best Qualified Bidder, whose deposit shall be retained until the closing of the purchase of the Acquired Assets and (ii) subject to the terms of Section 5.06(a)(i) of the Purchase Agreement, the Purchaser, whose deposit shall be retained until the earlier to occur of the closing of the purchase of the Acquired Assets and 60 days after Bankruptcy Court approval of another Qualified Bid. If a Successful Bidder fails to consummate an approved Sale because of a breach or failure to perform on the part of such Successful Bidder, the Sellers will not have any obligation to return the Good Faith Deposit deposited by such Successful Bidder, and such Good Faith Deposit irrevocably will immediately become property of the Sellers.
Return of Good Faith Deposit. Except as otherwise provided in this paragraph with respect to the Successful Bidder and the Second Best Bidder, the Good Faith Deposits of all Qualified Bidders required to submit such a deposit under the Sale Procedures shall be returned upon or within one (1) business day after entry of the Sale Order. The Good Faith Deposit of the Successful Bidder shall be held until the closing of a Sale and applied in accordance with the Successful Bid. The Good Faith Deposit of the Second Best Bidder shall be retained in escrow until 48 hours after the closing of a Sale. Pending their return, the Good Faith Deposit of the Successful Bidder and the Second Best Bidder shall be maintained in an interest bearing escrow account. If a closing does not occur, the disposition of Good Faith Deposits shall be as provided in the Successful Bid and Second Best Bid, as applicable.
Return of Good Faith Deposit. The Good Faith Deposits of all Qualified Bidders shall be returned to such Qualified Bidders on the earlier to occur of the date that is three business days after the closing of the sale of the Purchased Assets and the Shares or March 1, 2003; provided that the Good Faith Deposits applied toward the purchase price or retained as liquidated damages pursuant to this paragraph shall not be so returned. The Good Faith Deposit of the Successful Bidder, together with interest thereon (if any), shall be applied against the payment of the cash portion of the consideration upon closing of the Sale to the Successful Bidder. In the event the Successful Bidder fails to consummate the purchase of the Purchased Assets and the Shares due to the Successful Bidder's breach of its purchase agreement with the Sellers, the Successful Bidder shall be deemed to have indefeasibly forfeited, and the Sellers shall be entitled to retain, such Successful Bidder's Good Faith Deposit as liquidated damages and continue with the sale of the Purchased Assets to the Backup Bidder.
