THE BIDDING Sample Clauses

THE BIDDING. 6.1 Each new bid shall not be less than the immediately preceding bid.
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THE BIDDING. 6.2 All increments in the bids shall be not less than the incremental amount as fixed by the Auctioneer at the Auction Sale.
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THE BIDDING. Before the Purchaser obtains its own IDL in the Territory, Novartis shall cause Novartis distributor in the Territory to continue to participate in the bidding process in connection with the Product in those provinces in the Territory where Novartis has existing bids as at the date of signature of this Agreement as listed in Part A of Annex 7. For the avoidance of doubt, Novartis shall have no liability to the Purchaser, its Affiliates or distributors in the event that Novartis or Novartis’ distributor is not successful with any of the proposed bids. Purchaser acknowledges and agrees that Novartis and/or its distributor in the Territory shall participate in bidding projects during the Transition Period. For any bidding projects that Novartis participates in during the Transition Period, the Purchser shall promptly confirm the tendering price before it is proposed by Novartis to the respective tendering office in the Territory solely for those tenders where: (1) the expected tendering price is below the current bidding price by more than one percent in the same areas; or (ii) the expected tendering price is below the current national lowest price. In all other cases, Novartis, its Affiliate in the Territory or Novartis’ distributor shall be responsible for determining the tendering price. Following the expiry of the Transition Period, Novartis, its Affiliates and/or its distributor in the Territory shall no longer participate in bidding projects for the Product and the Purchaser shall be responsible for and shall cause its distributor to be responsible for any new bidding projects for the Product. A list of the bids in place with respect to the Product in the Territory as at signature of this Agreement is set out in Part B of Annex 7. Within seven (7) days of the expiry of the Transition Period and with respect to any ongoing bidding projects which started prior to the expiry of the Transition Period, the Purchaser shall immediately cause its distributor to apply for a change of the “Bidder” from Novartis’ distributor to the Purchaser’s distributor, and Novartis shall cause Novartis’ distributor to assist Purchaser’s distributor in such application process. In order to apply for the change of the bidder, the Purchaser it’s distributor to enter into a written agreement with Novartis’ distributor pursuant to any request by the respective Tendering Office. In the event that the application for change of bidder is not allowed until the bidding procedures are co...
Sample 1
THE BIDDING. Procedures Order shall be a Final Order and the Sellers shall have complied in all materials respects with the requirements of the Bidding Procedures Order;
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Related to THE BIDDING

  • Auction Procedures The provisions contained in Section 11.10 of the Amended and Restated Bylaws concerning Auction Procedures will be followed by the Fund and, to the extent applicable, the Auction Agent, and the provisions contained therein are incorporated herein by reference in their entirety and shall be deemed to be a part of this Agreement to the same extent as if such provisions were set forth fully herein.

  • Acceptance Procedures Based on the Reply Prices and Reply Amounts received by the Auction Agent prior to the applicable Auction Response Date, the Auction Agent, in consultation with the Auction Party, will determine the applicable price (the “Applicable Price”) for the Auction, which will be the lowest Reply Price for which the Auction Party can complete the Auction at the Auction Amount; provided that, in the event that the Reply Amounts are insufficient to allow the Auction Party to complete a purchase of the entire Auction Amount (any such Auction, a “Failed Auction”), the Auction Party shall either, at its election, (i) withdraw the Auction or (ii) complete the Auction at an Applicable Price equal to the highest Reply Price. The Auction Party shall purchase the relevant Term Loans (or the respective portions thereof) from each Lender with a Reply Price that is equal to or lower than the Applicable Price (“Qualifying Bids”) at the Applicable Price; provided that if the aggregate proceeds required to purchase all Term Loans subject to Qualifying Bids would exceed the Auction Amount for such Auction, the Auction Party shall purchase such Term Loans at the Applicable Price ratably based on the principal amounts of such Qualifying Bids (subject to rounding requirements specified by the Auction Agent in its discretion). If a Lender has submitted a Return Bid containing multiple bids at different Reply Prices, only the bid with the lowest Reply Price that is equal to or less than the Applicable Price will be deemed to be the Qualifying Bid of such Lender (e.g., a Reply Price of $100 with a discount to par of 1%, when compared to an Applicable Price of $100 with a 2% discount to par, will not be deemed to be a Qualifying Bid, while, however, a Reply Price of $100 with a discount to par of 2.50% would be deemed to be a Qualifying Bid). The Auction Agent shall promptly, and in any case within five Business Days following the Auction Response Date with respect to an Auction, notify (I) the Borrower of the respective Lenders’ responses to such solicitation, the effective date of the purchase of Term Loans pursuant to such Auction, the Applicable Price, and the aggregate principal amount of the Term Loans and the tranches thereof to be purchased pursuant to such Auction, (II) each participating Lender of the effective date of the purchase of Term Loans pursuant to such Auction, the Applicable Price, and the aggregate principal amount and the tranches of Term Loans to be purchased at the Applicable Price on such date, (III) each participating Lender of the aggregate principal amount and the tranches of the Term Loans of such Lender to be purchased at the Applicable Price on such date and (IV) if applicable, each participating Lender of any rounding and/or proration pursuant to the second preceding sentence. Each determination by the Auction Agent of the amounts stated in the foregoing notices to the Borrower and Lenders shall be conclusive and binding for all purposes absent manifest error.

  • Auction The one-time auction conducted by the Trustee, as described in Section 9.01(b) hereof.

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