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outstanding Voting Shares held by Independent Shareholders have been deposited or tendered to the Competing Bid and not withdrawn.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

• If the Buyer matches the Highest Competing Bid, the bidding procedure or process shall be terminated and no additional bids or offers from any entity, including the entity submitting the Highest Competing Bid, shall be accepted or considered by the Bankruptcy Court, the Company or any other party in interest.

• In such event,.the Purchase Price set forth in Section 3.1 shall be amended to an amount equal to the Highest Competing Bid matched by Buyer and the respective rights, obligations and duties of Company and Buyer for Buyer's purchase of the Sale Assets shall be as otherwise set forth in this Agreement subject to the amendment of the Purchase Price as above provided.

• In the event a Competing Bid is made pursuant to Section 9.3(b) of the Agreement, the deposit made by any Competing Bidder shall be held by the Escrow Agent pursuant to the terms hereof ("Overbid Escrow Funds").

• For the purposes of computing any match by Buyer of the Highest Competing Bid, the Purchase Price under Section 3.1 shall be considered as having a cash value of $ 1 3,000,000 (the sum of the Cash and the Debenture., which sum shall be included in any match of the Highest Competing Bid by Buyer.

• Any party submitting a Competing Bid shall execute the Escrow Agreement and be bound by its terms.

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 means any bid contemplating an Alternative Transaction.

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

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.