Competing Bid definition

Competing Bid shall have the meaning set forth in Section 7.2(b).

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Competing Bid means a Take-over Bid that: (i) is made while another Permitted Bid is in existence, and (ii) satisfies all the components of the definition of a Permitted Bid, except that the requirements set out in Clause (ii) of the definition of a Permitted Bid shall be satisfied if the Take-over Bid shall contain, and the take up and payment for securities tendered or deposited thereunder shall be subject to, an irrevocable and unqualified condition that no Voting Shares shall be taken up or paid for pursuant to the Competing Bid prior to the close of business on the date that is no earlier than the date which is the later of thirty-five (35) days after the date the Competing Bid is made or sixty (60) days after the earliest date on which any other Permitted Bid or Competing Bid that is then in existence was made and only if at that date, more than fifty percent (50%) of the then outstanding Voting Shares held by Independent Shareholders have been deposited or tendered to the Competing Bid and not withdrawn.

Competing Bid shall have the meaning set forth in Section 7.1. “Deposit” shall have the meaning set forth in Section 3.1.

Examples of Competing Bid in a sentence

• Subject to the entry of the Sale Order, the Termination Payment shall be paid on the first Business Day following the date of consummation of the transaction arising out of a Competing Bid if, at or prior to such date, no material breach by Buyer of this Agreement has occurred.

• In addition, each Seller Party shall have the responsibility and obligation to respond to any inquiries or offers for a Competing Bid and perform any and all other acts related thereto which are required under the Bankruptcy Code, the Sale Order or other applicable Law, including supplying information relating to the Business and the Transferred Assets to prospective purchasers.

• From the Effective Time and until the closing of the Auction, each Seller Party is permitted to and to cause its Representatives and Affiliates to, initiate contact with, solicit or encourage submission of any inquiries, proposals or offers by, any Person (in addition to Buyer and its Affiliates and Representatives) in connection with a Competing Bid.

More Definitions of Competing Bid

Competing Bid means a Take-over Bid that: (i) is made while another Permitted Bid is in existence, and (ii) satisfies all the components of the definition of a Permitted Bid, except that the requirements set out in Clause (ii) of the definition of a Permitted Bid shall be satisfied if the Take-over Bid shall contain, and the take up and payment for securities tendered or deposited thereunder shall be subject to, an irrevocable and unqualified condition that no Voting Shares shall be taken up or paid for pursuant to the Competing Bid prior to the close of business on the date that is no earlier than the date which is the later of thirty-five (35) days after the date the Competing Bid is made or sixty (60) days after the earliest date on which any other Permitted Bid or Competing Bid that is then in existence was made and only if at that date, more than fifty percent (50%) of the then outstanding Voting Shares held by Independent Shareholders have been deposited or tendered to the Competing Bid and not withdrawn; provided always that a Competing Bid will cease to be a Competing Bid at any time when such bid ceases to meet any of the provisions of this definition and any acquisitions of securities made pursuant to such bid that has ceased to be a Competing Bid, including any acquisition of securities theretofore made, will cease to be a Permitted Bid Acquisition.

Competing Bid has the meaning set forth in Section 5.1.

Competing Bid has the meaning ascribed thereto in Section 13.4.

Competing Bid has the meaning set forth in Section 6.13(a).

Competing Bid means any bid contemplating an Alternative Transaction.

Competing Bid means (i), in relation to Nykredit, Finansiel Stabilitet, FS Finans and Clipper Group, a competing bid from any third party independent of Mols-Linien, Nykredit, Finansiel Stabilitet, FS Finans, Clipper Group, Polaris and the Offeror to buy all Shares in the Company, including the Shares held by Nykredit, Finansiel Stabilitet, FS Finans and Clipper Group, at a price per Share exceeding DKK 34, or (ii), in relation to Shareholders other than Nykredit, Finansiel Stabilitet, FS Finans and Clipper Group, a competing bid as defined in Section 26 of the Danish Takeover Order.

Competing Bid means any bid, offer or proposal contemplating an Alternative Transaction.