Common use of Sale Hearing Clause in Contracts

Sale Hearing. The Sale Hearing will be held before the Xxxxxxxxx Xxxxxx X. Drain on March 22, 2007 at 10:00 a.m. (prevailing Eastern time) at the United States Bankruptcy Court for the Southern District of New York, located at Xxx Xxxxxxx Xxxxx, Xxxx 000, Xxx Xxxx, Xxx Xxxx 00000, but may be adjourned or rescheduled without further notice by an announcement of the adjourned date at the Sale Hearing. If Seller does not receive any Qualified Bids (other than the Qualified Bid of the Purchaser), Seller will report the same to the Bankruptcy Court at the Sale Hearing and will proceed with a sale of the Acquired Assets to the Purchaser following entry of the Sale Order. If Seller does receive additional Qualified Bids, then, at the Sale Hearing, Seller shall seek approval of the Successful Bid(s), as well as the second highest or best Qualified Bid(s) (the "Alternate Bid(s)" and such bidder(s), the "Alternate Bidder(s)"). Seller's presentation to the Bankruptcy Court of the Successful Bid(s) and Alternate Bid(s) shall not constitute Seller's acceptance of either or any such bid(s), which acceptance shall only occur upon approval of such bid(s) by the Bankruptcy Court at the Sale Hearing. Following approval of the sale to the Successful Bidder(s), if the Successful Bidder(s) fail(s) to consummate the sale because of: (i) failure of a condition precedent beyond the control of either Seller or the Successful Bidder; or (ii) a breach or failure to perform on the part of such Successful Bidder(s), then the Alternate Bid(s) shall be deemed to be the Successful Bid(s) and Seller shall effectuate a sale to the Alternate Bidder(s) without further order of the Bankruptcy Court.

Sale Hearing. The Sale Hearing will be held before the Xxxxxxxxx Honorable Judge Xxxxxx X. Drain Xxxxx on March 22May 21, 2007 2009 at 10:00 a.m. (prevailing Eastern timeTime) at the United States Bankruptcy Court for the Southern District of New York, located at Xxx Xxxxxxx Xxxxxin New York, Xxxx 000, Xxx Xxxx, Xxx Xxxx 00000New York, but may be adjourned or rescheduled in Delphi's sole discretion, subject to Bankruptcy Court Approval, as necessary, without further notice by an announcement of the adjourned date at the Sale Hearing. If Seller Delphi does not receive any Qualified Bids (other than the Qualified Bid of the PurchaserBuyer Parent), Seller Delphi will report the same to the Bankruptcy Court at the Sale Hearing and will proceed with a sale of the Acquired Assets to the Purchaser Buyer Parent following entry of the Sale Order. If Seller Delphi does receive additional Qualified Bids, then, at the Sale Hearing, Seller shall Delphi will seek approval of the Successful Bid(s), as well as the second highest or best Qualified Bid(s) (the "“Alternate Bid(s)" ” and such bidder(s), the "“Alternate Bidder(s)"”). Seller's presentation to the Bankruptcy Court of the Successful Bid(s) and Alternate Bid(s) shall not constitute Seller's acceptance of either or any such bid(s), which acceptance shall only occur upon approval of such bid(s) by the Bankruptcy Court at the Sale Hearing. Following approval of the sale to the Successful Bidder(s), if the Successful Bidder(s) fail(s) to consummate the sale because of: (i) failure of a condition precedent beyond the control of either Seller Delphi or the Successful Bidder; or (ii) a breach or failure to perform on the part of such Successful Bidder(s), then the Alternate Bid(s) shall will be deemed to be the Successful Bid(s) and Seller shall Delphi will effectuate a sale to the Alternate Bidder(s) without further order of the Bankruptcy Court.

Sale Hearing. The hearing on the approval of the Sale Hearing to the Purchaser (“Sale Hearing”) will be held before the Xxxxxxxxx Xxxxxx X. Honorable Rxxxxx Drain on March 22July 19, 2007 2006 at 10:00 a.m. (prevailing Eastern New York City time) at the United States Bankruptcy Court for the Southern District of New York, located at Xxx Xxxxxxx Xxxxxin New York, Xxxx 000, Xxx Xxxx, Xxx Xxxx 00000New York, but may be adjourned or rescheduled without further notice by an announcement of the adjourned date at the Sale Hearing. If Seller does not receive any Qualified Bids (other than the Qualified Bid of the Purchaser), Seller will report the same to the Bankruptcy Court at the Sale Hearing and will proceed with a sale of the Acquired Assets to the Purchaser following entry of the Sale Order. If Seller does receive additional Qualified Bids, then, at At the Sale Hearing, Seller shall seek approval of the Successful Bid(s)Purchaser’s Qualified Bid, as well as the second highest or best Qualified Bid(s) (the "“Alternate Bid(s)" ” and such bidder(s), the "“Alternate Bidder(s)"”). Seller's ’s presentation to the Bankruptcy Court of the Successful Bid(s) Purchaser’s Qualified Bid and Alternate Bid(s) shall not constitute Seller's ’s acceptance of either Purchaser’s Qualified Bid or any such bid(sAlternate Bid(s), which acceptance shall only occur upon approval of such bid(s) by the Bankruptcy Court at the Sale Hearing. Following approval of the sale to the Successful Bidder(s)Purchaser, if the Successful Bidder(s) Purchaser fail(s) to consummate the sale because of: (i) failure of a condition precedent beyond the control of either Seller or the Successful BidderPurchaser; or (ii) a breach or failure to perform on the part of such Successful Bidder(s)Purchaser, then the Alternate Bid(s) shall be deemed to be the Successful Bid(shighest or otherwise best offer(s) for the Acquired Assets and the Business received at the Auction and Seller shall effectuate a sale to the Alternate Bidder(s) without further order of the Bankruptcy Court.

Sale Hearing. The Sale Hearing will be held before the Xxxxxxxxx Xxxxxx X. Drain on March 22is currently scheduled for October 28, 2007 2008 at 10:00 a.m. (prevailing Eastern time) at before the Honorable Xxxxxx Xxxxx, United States Bankruptcy Judge, in the United States Bankruptcy Court for the Southern District of New York, located at Xxx Xxxxxxx Xxxxx, Xxxx 000, Xxx Xxxx, Xxx Xxxx 00000, but . The Sale Hearing may be adjourned or rescheduled by the Seller without further notice other than by an announcement of the adjourned date at the Sale Hearing. If Seller does not receive any no Qualified Bids (other than the Qualified Bid that of the Purchaser)Purchaser are received, the Seller will report the same to the Bankruptcy Court at the Sale Hearing and will proceed with a the sale of the Acquired Assets to the Purchaser following entry of the Sale Orderorder approving the Sale. If the Seller does receive receives additional Qualified Bids, then, at the Sale Hearing, the Seller shall seek approval of the Successful Bid(s)Bid, as well as the second highest or best Qualified Bid(s) Bid (the "“Alternate Bid(s)" Bid” and such bidder(s)bidder, the "“Alternate Bidder(s)"Bidder”). Seller's presentation to A bid will not be deemed accepted by the Bankruptcy Court of the Successful Bid(s) Seller unless and Alternate Bid(s) shall not constitute Seller's acceptance of either or any such bid(s), which acceptance shall only occur upon approval of such bid(s) until approved by the Bankruptcy Court at the Sale HearingCourt. Following approval of the sale to the Successful Bidder(s)Bidder, if the Successful Bidder(s) fail(s) Bidder fails to consummate the sale because of: (i) failure of a condition precedent beyond the control of either Seller or the Successful Bidder; or (ii) a breach or failure to perform on the part of such Successful Bidder(s)for specified reasons, then the Alternate Bid(s) shall Bid will be deemed to be the Successful Bid(s) Bid and the Seller shall will effectuate a sale to the Alternate Bidder(s) Bidder without further order of the Bankruptcy Court.