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.

  • 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.

  • 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 16, credit card deposits may be refunded.Registration Deposits received from the second highest bidder will be held as stipulated in Paragraph 17, Backup Bidder.

  • Notwithstanding the foregoing, the Bid of the Backup Bidder shall be deemed to be a continuing offer to purchase the Property for the period of time that the Government retains the Registration Deposit of the Backup Bidder, as further described in the “Backup Bidder” Section below.

  • In the event that the Government is unable to complete the transaction with both the Bidder of the originally Accepted Bid and with the Backup Bidder, the Government reserves the right to consider the other remaining Bid(s) and accept any of the same if it is in the best interest of the Government, as determined by the Government in its sole discretion provided, however, that the Government will use the same evaluative factors described in the Government’s Right to Accept a Bid Section above.

  • 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.


More Definitions of Backup Bidder

Backup Bidder has the meaning set forth in the Bidding and Auction Procedures.
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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 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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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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Related to Backup Bidder

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

  • Successful Bidder(s) means the bidder(s) to whom work in this tender is awarded.

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

  • Qualified 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

  • Designated Bidder means (a) an Eligible Assignee or (b) a special purpose corporation that is engaged in making, purchasing or otherwise investing in commercial loans in the ordinary course of its business and that issues (or the parent of which issues) commercial paper rated at least "Prime-1" (or the then equivalent grade) by Xxxxx'x or "A-1" (or the then equivalent grade) by S&P that, in the case of either clause (a) or (b), (i) is organized under the laws of the United States or any State thereof, (ii) shall have become a party hereto pursuant to Section 8.07(d), (e) and (f) and (iii) is not otherwise a Lender.

  • Preferred Bidder means a bidder that is entitled to receive a reciprocal preference under the requirements of this chapter.

  • BC Bid means the BC Bid website located at www.bcbid.ca;

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

  • Winning Bidder With respect to a Successful Auction, the Qualified Bidder that bids the highest price.

  • Eligible bidder means a person who is:

  • Bidder/Bidding Company means Bidding Company submitting the Bid. Any reference to the Bidder includes Bidding Company/ including its successors, executors and permitted assigns as the context may require”.

  • Tenderer/Bidder means the firm or Company (hereinafter called Tenderer/ Bidder) who duly submits the tender after accepting all the terms & conditions of the tender document.

  • Eligible Bidder(s) means Bidder(s) who are eligible in terms of this E-Auction Process Memorandum, provisions of IBC and provisions of the Liquidation Process Regulations;

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

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

  • Contractor/The Successful Bidder means the person whose Tender has been accepted and awarded letter of Acceptance followed by the Supply Order or Contract by the Purchaser.

  • Bid Solicitation Agent means the Company or the Person appointed by the Company to solicit bids for the Trading Price of the Notes in accordance with Section 14.01(b)(i). The Company shall initially act as the Bid Solicitation Agent.

  • Successful Bid means the Bid of the Successful Bidder for acquisition of the Corporate Debtor on Going Concern basis as declared by the Liquidator as per this Process Memorandum;

  • Technical Bid means the bid submitted online through the electronic bidding platform, containing the documents as listed out in Clause 2.5.2 of this RFP;

  • 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.

  • Interested Bidder means any person or persons who have submitted the Request Letter for Participation along with signed Bid Form, notarized affidavit, signed Declaration, requisite Earnest Money and other necessary documents to complete the eligibility check formalities to the satisfaction of the Liquidator.

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

  • Supplier/ Successful or Selected bidder means the person, private or government entity, or a combination of the above, whose Bid to perform the Contract has been accepted by the Purchaser and is named as such in the Agreement, and includes the legal successors or permitted assigns of the successful/ selected bidder.