Examples of Auction Procedure in a sentence
If a Bondholder is prevented from receiving the Cryptocurrency due to legal or regulatory reasons and the Issuer holds a Cryptocurrency Auction Procedure, the Auctioneer (as defined below) will announce that it is auctioning the required amount of the Cryptocurrency on the Issuer’s website (https://www.etc-group.com).
In such case, the sale of units of the underlying Cryptocurrencies comprising the Basket via Cryptocurrency Auction Procedure will not be limited to the underlying Cryptocurrencies, which the Bondholder is unable to receive.
The Purchaser shall as soon as practical after the sale, and immediately upon being requested to do so by the AUCTION HOUSE, sign the Auction Procedure with Special Conditions, General Rules of Auction, Terms and Conditions of Bidpro Website and the Offer to Purchase.
Nothing in this Auction Procedure shall exclude a Party’s liability for fraud or wilful misconduct.
Parties acknowledge that the subscription of this Contract does not entail an obligation for SHIPPER to participate to any of the Auctions provided for in the Auction Procedure.
In case the SHIPPER, following one of the Auctions provided for in the Auction Procedure, will be awarded some Sublet Hourly Flow Rate, ENI will send to SHIPPER an Individual Contract in the form of Annex D, specifying, inter alia, Guarantee Date 1 and Guarantee Date 2.
In addition Party B represents and warrants the VAT representation pursuant to § 14.11 (VAT representation), the representation pursuant to § 14.12 (Excise duties at PSV) and the representations made in the declaration provided by Party B under the Auction Procedure.
The rights and remedies provided under this Bid Bond are cumulative and not exclusive of any other rights or remedies provided under any applicable law and/or the Auction Procedure.
An Individual Contract shall become effective as of the Start Up Date specified in it following the award to the SHIPPER of capacity as a result of successful participation in an Auction in accordance with the Auction Procedure and subject to the provision of a Bank Guarantee as specified in Article 16.2 and in the terms of Article 16.
If Bonds are redeemed in USD, the redemption amount will be equal to the proceeds of sale of the Cryptocurrency Entitlement using the Cryptocurrency Auction Procedure (as defined below) ("1.3.3. Auction cannot be carried out due tomissing participants or insufficient bids"), if such procedure results in a successful sale.