Common use of Withdrawal of Bid Clause in Contracts

Withdrawal of Bid. Any bidder, who makes a bid but withdraws the same before the fall of the hammer, shall have their deposit equal to 5% of reserve price forfeited as agreed liquidated damages for payment to the Assignee/Bank. The Auctioneer reserves the right to put the property again for sale at the last disputed bid, or otherwise to adjourn the auction to another date.

Appears in 2 contracts

Samples: Loan Agreement Cum Deed of Assignment, Loan Agreement Cum Deed of Assignment

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Withdrawal of Bid. Any bidder, who makes a bid but withdraws the same before the fall of the hammer, shall have their deposit equal to 510% of the reserve price forfeited as agreed liquidated damages for payment to the Assignee/BankCo-operative. The Auctioneer reserves the right to put the property Property again for sale at the last disputed undisputed bid, or otherwise to adjourn the auction to another date.

Appears in 1 contract

Samples: Master Facility Agreement

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Withdrawal of Bid. Any bidder, bidder who makes a bid but withdraws the same before the fall of the hammer, shall have their deposit equal to 510% of the reserve price forfeited as agreed liquidated damages for payment to the Assignee/Bank. The Auctioneer reserves the right to put the property again for sale at the last disputed bid, undisputed bid or otherwise to adjourn the auction to another date.

Appears in 1 contract

Samples: Property Sale Agreement

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