Adequate Bid definition

Adequate Bid means an all cash offer (made by a person or entity not affiliated with Golden State Petroleum, the Owners, the Manager, or any of their affiliates) for the purchase of a Vessel that (1) has been certified to be comparable to the fair market value of such Vessel at the time of the bid by McQuilling Brokerage Partners, Inc. ("McQuilling") or ACM Shipping Limited ("AMC") (or their respective successors), as selected by Golden State Petroleum, or to the extent both XxXxxxxxxx and ACM (and their respective successors) cease to exist or provide such services or cease to be independent ship brokers, another well-known, independent ship broker selected by Golden State Petroleum and (2) produces net proceeds that (after deducting fees and expenses of the termination and sale), together with the Allocable Portion of the Debt Service Reserve Fund allocable to the Vessel, at least equals the Allocated Principal Amount of Notes for such Vessel, plus interest accrued and unpaid and any expenses incurred by the Indenture Trustee in connection with the redemption of the Notes.
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Adequate Bid means an acceptable Bid which is within the amount defined by the Contracting Authority in the Public Procurement Decision or which may be additionally provided in accordance with Article 28, Paragraph (4) of the Public Procurement Law;
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Adequate Bid means bid which is timely and determined to fully comply with all technical specifications;
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Examples of Adequate Bid in a sentence

  • The Company’s obligation to redeem the Allocated Principal Amount of the Mortgage Notes for Vessel B on the Redemption Date arises from the sale by the Owner of Vessel B (M.T. “Ulysses”, Official Number 731073) on March 11, 2014, in an amount at least equal to an Adequate Bid.

  • Notwithstanding anything to the contrary in Section 10.1(d)(i) of the Indenture, if the Vessel is sold at an Adequate Bid, then the Allocated Principal Amount of Notes (as defined in the Indenture) for the Vessel will be redeemed at a redemption price equal to the greater of (x) the sum of (A) an amount equal to 100% of the Allocated Principal Amount and (B) the Make-Whole Premium and (y) the applicable Redemption Premium Price, plus accrued but unpaid interest to the date of the redemption.


More Definitions of Adequate Bid

Adequate Bid means any acceptable offer within the amount identified by the Contracting Authority in its Public Procurement Decision or that may be additionally provided in accordance with Article 28 paragraph (4) of the Public Procurement Law;
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Related to Adequate Bid

  • Competitive Bid means an offer by a Lender to make a Competitive Loan in accordance with Section 2.04.

  • Responsive Bid means a Bid that complies with each of the provisions of this RFB, or is either an alternative bid or a bid with an exception, if accepted by the Agency.

  • Competitive Bid Note means a promissory note of the Borrower payable to the order of any Lender, in substantially the form of Exhibit A-2 hereto, evidencing the indebtedness of the Borrower to such Lender resulting from a Competitive Bid Advance made by such Lender.

  • Competitive Bid Accept/Reject Letter means a notification made by the Borrower pursuant to Section 2.03(d) in the form of Exhibit A-4.

  • Responsive bidder means a person who has submitted a bid that conforms in all material respects

  • Competitive Bid Rate means, with respect to any Competitive Bid, the Margin or the Fixed Rate, as applicable, offered by the Lender making such Competitive Bid.

  • Competitive bidding means a transparent process for procurement of equipment, services and works in which bids are invited by the project developer by open advertisement covering the scope and specifications of the equipment, services and works required for the project, and the terms and conditions of the proposed contract as well as the criteria by which bids shall be evaluated, and shall include domestic competitive bidding and international competitive bidding;

  • Competitive Bid Margin means the margin above or below the applicable Eurocurrency Base Rate offered for a Eurocurrency Bid Rate Loan, expressed as a percentage (rounded to the nearest 1/100 of 1%) to be added or subtracted from such Eurocurrency Base Rate.

  • competitive bidding process means a competitive bidding process referred to in paragraph 12 (1) (d) of this Policy;

  • Competitive Bid Advance means an advance by a Lender to the Borrower as part of a Competitive Bid Borrowing resulting from the competitive bidding procedure described in Section 2.03 and refers to a Fixed Rate Advance or a LIBO Rate Advance.

  • Eligible bidder means a person who is:

  • Competitive Bid Loan means a Competitive Bid LIBOR Loan or a Competitive Bid Absolute Rate Loan.

  • Competitive Bid Quote Request means the notice, in substantially the form of Exhibit C hereto, to be delivered by the Company in accordance with Section 2.03 in requesting Competitive Bid Quotes.

  • Financial Bid means the Initial Offer and Final Offer, containing the Bidder’s Quoted Transmission Charges, as per the format at Annexure – 21 of this RFP;

  • The Bidder means the individual or firm who participates in this tender and submits its bid.

  • Responsive Bidder or Offeror means a person who submits a bid or proposal which conforms in all material respects to the invitation for bids or request for proposals.

  • Base Bid means a Bid for Public Works to be performed or Supplies or Services to be furnished under a City Contract, including additives, alternates, deductives, excluding force accounts, and taxes collected separately pursuant to Washington Administrative Code (“WAC”) 458-20-171.

  • CTS Interface Bid means: (1) in PJM, a unified real-time bid to simultaneously purchase and sell energy on either side of a CTS Enabled Interface in accordance with the procedures of Section 1.13 of Schedule 1 of the Amended and Restated Operating Agreement of PJM, L.L.C.; and (2) in NYISO, a real-time bid provided by an entity engaged in an external transaction at a CTS Enabled Interface, as more fully described in NYISO Services Tariff Section 2.3.

  • Competitive Bid Reduction has the meaning specified in Section 2.01.

  • Solicitation Procedures Order means the order of the Bankruptcy Court or other court of competent jurisdiction approving the Debtors' proposed procedures to govern their solicitation of votes on this Plan.

  • Competitive Bid Quote means a response submitted by a Lender to the Administrative Agent or the Borrower, as the case may be with respect to an Invitation for Competitive Bid Quotes in the form attached as Exhibit C-3.

  • Acceptable bid means any bid which, in all respects, complies with the conditions of bid and specifications as set out in the bid documents.

  • Price Bid means the Price Bid submitted by the Bidder, in accordance with Clause 8.15.2;

  • Auction Procedures means the auction procedures constituting Part II of the form of Statement as of the filing thereof.

  • Contract base bid means the total dollar amount a contractor bids on a contract without factoring any bid incentive or percentage reductions to the bid amount.

  • Competitive Bid Request means a request by the Borrower for Competitive Bids in accordance with Section 2.04.