Modified Dutch Auction definition

Modified Dutch Auction means the auction pricing mechanism as described under “The APE Solicitation—Terms of The APE Solicitation—Option C—Modified Dutch Auction” of the APE Solicitation Statement.

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Modified Dutch Auction as defined in Section 2.25(a).

Modified Dutch Auction as defined in Section 4.16(a).

Examples of Modified Dutch Auction in a sentence

If no such Modified Dutch Auction Applicable Discount for the full Auction Amount can be so derived, then the Modified Dutch Auction Applicable Discount for all Reply Amounts shall be the least of the Reply Discounts that is within the Discount Range (i.e. a Reply Discount of 18% is the least of Reply Discounts of 20%, 19% and 18%).
No Return Bids will be accepted which specify a Reply Discount less than the Modified Dutch Auction Applicable Discount.
The Modified Dutch Auction Applicable Discount so derived shall be applicable for all Lenders who have offered to participate in the Auction and whose Return Bids (including any component bid thereof) specified a Reply Discount equal to or greater than the Modified Dutch Auction Applicable Discount (each a “Qualifying Bid”).
Based on the Reply Discounts and Reply Amounts received by the Administrative Agent, the Administrative Agent, in consultation with the Parent Purchaser, will determine the applicable discount (the “Variable Price Auction Applicable Discount” and, together with the Modified Dutch Auction Applicable Discount and the Dutch Auction Applicable Discount, each an “Applicable Discount”) for the Auction, which shall be, for each Lender submitting a Return Bid, the Reply Discount identified by such Lender.
Threshold Price The Purchaser shall conduct its Purchase Offers for Term Loans through a Modified Dutch Auction pursuant to which each Participating Lender shall select the price, within a price range specified by the applicable Borrower(s) in the Offer Document, at which such Participating Lender is willing to sell its Term Loans.
The Modified Dutch Auction Applicable Discount so derived shall be applicable for all Lenders who have offered to participate in the Auction and whose Return Bids (including any component bid thereof) specified a Reply Discount equal to or greater than the Modified Dutch Auction Applicable Discount (each a “Modified Dutch Auction Qualifying Bid”).
In the event the Auction being conducted has been specified by the Borrowers to be a Modified Dutch Auction, this Section 4 shall be applicable and the Auction shall constitute a “Modified Dutch Auction”.
With regard to any re-inspection (and re- testing if appropriate) of any revised construction, Mobility Authority, the D/B Contractor, and the City shall follow the same notice and inspection schedule set forth above.
The Credit Agreement is hereby amended by adding the following new Exhibit thereto as set forth in Annex I attached hereto: Exhibit O Form of Modified Dutch Auction Procedures.
The Borrowers hereby give notice to the Lenders that they desire to conduct the following [Modified Dutch Auction] [Variable Price Auction] [Fixed Price Auction] with respect to the Term B Loans: Auction Amount: $___.

More Definitions of Modified Dutch Auction

Modified Dutch Auction procedures we are using, the Administrative Agent (defined below) in consultation with us will select the lowest purchase price (the “Clearing Price”) that will allow us to purchase the Maximum Offer Amount (or such lesser amount of Term Loans for which we have received the aggregate Sale Offers), at prices not greater than the Maximum Purchase Price nor less than the Minimum Purchase Price per $1,000 principal face amount. First, to the extent the Purchaser elects to purchase Term Loans, all principal amount of validly tendered Term Loans for which Sale Offers are received at a price lower than the Clearing Price will be purchased at the purchase price specified by such participating Lender, and such tendered principal amounts will not be subject to pro ration, and thereafter, all principal amount of Term Loans tendered at the Clearing Price will be acquired at such Clearing Price, subject to pro ration procedures set forth below. We will not purchase any principal amount of Term Loans validly tendered at a price above the Clearing Price. In the event that the aggregate principal amount of Term Loans for which validly executed Sale Offers and Assignment and Assumption Agreements are received (prior to the Expiration Time) exceeds the Maximum Offer Amount and the Purchaser elects to purchase Term Loans pursuant to the Purchase Offer, the Purchaser will purchase all principal amount of Term Loans tendered by the Lenders below the Clearing Price first, and then to the extent of the remaining amounts under the Maximum Offer Amount, the Purchaser will purchase all principal amount of Term Loans tendered by the Lenders at the Clearing Price ratably based on the respective principal amounts of such tendered Term Loans. Note that not all principal amount of Term Loans accepted for purchase in the Purchase Offer will be purchased at the Clearing Price. If a participating Lender specifies an offer price for principal amount of a Term Loan that is less than the Clearing Price, such Lender will first receive for such principal amount the purchase price specified by such participating Lender and such tendered principal amount will not be subject to proration. Only principal amount of Term Loans tendered at the Clearing Price will be subject to proration. We intend to disseminate announcements in respect of any amendment, cancellation or termination of the Purchase Offer or extension of the Expiration Time or any other relevant matter to you through Wachovia Bank, Nati...