Competitive Sales Process means any public auction or other competitive sale process conducted in accordance with the advice of a Third Party Adviser as selected by the Security Agent (it being acknowledged that the Security Agent shall have no obligation to select or engage any Third Party Adviser unless it shall have been indemnified and/or secured and/or prefunded to its satisfaction) with a view to obtaining the best price reasonably obtainable taking into account all relevant circumstances in which the relevant Secured Creditors are entitled to participate as prospective buyers and/or financiers (including as part of a consortium).
Competitive Sales Process means any auction or other competitive sales process conducted with the advice of a Financial Advisor appointed by, or approved by, the Relevant Designated Representative pursuant to Section 5.10.
Competitive Sales Process means any auction or other competitive sales process conducted with the advice of a Financial Adviser appointed by, or approved by, the Security Agent pursuant to Clause 12.5 (Appointment of Financial Adviser), which process is conducted with a view to obtaining a fair market price in the then prevailing market conditions and, for the avoidance of doubt, the procedures for which do not preclude the Unitranche Facilities Lenders from participating as prospective buyers or as bidders or financiers to any potential purchaser on the basis of equal information and access rights as are available to each other prospective buyer (or financiers to any potential purchaser).
Examples of Competitive Sales Process in a sentence
The Issuer shall be deemed to have satisfied the requirement for obtaining fair market value if such Permitted Bridlesmith Gate Disposal is made pursuant to a Competitive Sales Process.
The Security Agent had commenced a Competitive Sales Process under and as defined in the Intercreditor Agreement with respect to the Group on or about 23 January 2023.
More Definitions of Competitive Sales Process
Competitive Sales Process means a public or private auction or other competitive sale process in which more than one bidder participates or is invited to participate (including any person invited that is a Creditor at the time of such invitation), which may or may not be conducted through a court or other legal proceeding, and which is conducted with the advice of a Financial Adviser.
Competitive Sales Process means any public auction or other competitive sale process conducted with the advice of a Financial Adviser as selected by the Security Agent (it being acknowledged that the Security Agent shall have no obligation to select or engage any Financial Adviser unless it shall have been indemnified and/or secured and/or prefunded to its satisfaction) in respect of which the Secured Creditors are entitled to participate. For the purposes of this definition, "entitled to participate" shall be interpreted to mean: