Backup Bidder definition

Backup Bidder has the meaning set forth in the Bidding Procedures.
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Backup Bidder means any Bidder whose Bid is selected as the Backup Bid. “Bid Deadline” has the meaning ascribed to it in paragraph 8.1.
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Backup Bidder shall have the meaning set forth in Section 7.1(c).
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Examples of Backup Bidder in a sentence

  • The bid of the Backup Bidder may be considered for acceptance for the duration of Continuing Offer period described in Terms of Sale, Paragraph 15, Continuing Offers, if: 1) the original High Bidder is unable to fully complete the transaction according to the terms and conditions of the IFB; or 2) if the original High Bidder fails to provide the required 10% of the purchase price as Earnest Money.

  • The Bidder identified as the Backup Bidder agrees that their Bid remains a bona fide offer with which their Registration Deposit may be retained without interest, until the High Bidder provides the 10% Earnest Money or completes the transaction or both, at the Government’s discretion.

  • During the Continuing Offer period, the Bidder identified as the Backup Bidder agrees that they will not request retrieval, chargeback or any other cardholder refund and understands that a debt to the United States of America may be created if their deposits are in any way unavailable to the Government to which any party that participates in such chargeback or refund may be held accountable as provided in Terms of Sale, Paragraph 9, Revocation of Bid and Default.

  • When the Backup Bidder is converted to the High Bidder, all terms, conditions and agreements described in the IFB are applicable to the successful bidder.The Registration Deposit of the Backup Bidder will be returned as described in Paragraph 16, Refund of Registration Deposits, if the Backup Bidder is not converted to the High Bidder.

  • The Government may elect to accept the Bid of the Backup Bidder if the Bidder of the originally Accepted Bid is unable to fully complete the transactions according to the terms and conditions of this IFB including, without limitation, if such Bidder fails to provide the Additional Deposit.

  • If the Government elects to accept the Bid of the Backup Bidder, then the Backup Bidder becomes the Purchaser under the Agreement of Sale.

  • The Registration Deposit of the Backup Bidder will be returned in the event the Government does not elect to accept the Bid of the Backup Bidder.

  • The Registration Deposit received from the Backup Bidder will be held in the manner described in the section immediately below.

  • When the Backup Bidder is converted to the High Bidder, all terms, conditions and agreements described in the IFB are applicable to the successful bidder.

  • Registration Deposits provided by credit card will be credited to the same account number provided.Upon receipt of the Earnest Money described in Paragraph 15, credit card deposits may be refunded.Registration Deposits received from the second highest bidder will be held as stipulated in Paragraph 17, Backup Bidder.


More Definitions of Backup Bidder

Backup Bidder means the party designated by the Court that has submitted the second highest or otherwise best offer at the Auction.
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Backup Bidder means the party whose bid is determined to be the next highest bid after the bid of the Successful Bidder at the Auction.
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Backup Bidder has the meaning set forth in the Bidding and Auction Procedures.
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Backup Bidder has the meaning ascribed thereto in the Sale Procedures. “Balance” has the meaning ascribed thereto in Section 3.1(b).
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Backup Bidder has the meaning ascribed thereto in Section 5.6(4).
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Backup Bidder has the meaning set forth in Error! Reference source not found..
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Related to Backup Bidder

  • Successful Bidder As defined in Section 7.01(c).

  • Selected Bidder or “Successful Bidder” shall mean the Bidder selected pursuant to this RfS to set up the Project and supply electrical output as per the terms of standard PPA.

  • Qualified Bidder(s means a Bidder who fulfills the eligibility criteria listed out in the E-Auction Process Information Document.

  • Highest Bidder means the Bidder, who quotes the highest License Fees

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

  • Bidder means the legal entity which submits a Bid for consideration by City in accordance with the Invitation For Bid.

  • Successful Bid means the Bid of the Successful Bidder for acquisition of assets of the Corporate Debtor and as declared by the Liquidator in terms of sub-clause VIII of Clause 5.4 of this document.

  • Credit Bid means, an offer submitted by Agent (on behalf of the Lender group), based upon the instruction of the Required Lenders, to acquire the property of any Loan Party or any portion thereof in exchange for and in full and final satisfaction of all or a portion (as determined by Agent, based upon the instruction of the Required Lenders) of the claims and Obligations under this Agreement and other Loan Documents.

  • Buy Bid means a bid to buy Capacity Resources in any Incremental Auction.