Next Highest Bidder definition

Next Highest Bidder has the meaning set forth in Section 10.2.4.

Next Highest Bidder has the meaning set forth in the Bidding Procedures.

Next Highest Bidder shall have the meaning set forth in Section 8.2(c). (94) “Objection Notice” shall have the meaning set forth in Section 11.2. (95) “Open Source License” means any license meeting the open source definition (as currently promulgated by the Open Source Initiative) or the free software definition (as currently promulgated by the Free Software Foundation), or any substantially similar license. (96) “Open Source Software” means any Software subject to an Open Source License. (97) “Order” means any award, writ, injunction, judgment, order, ruling, decision, subpoena, mandate, precept, command, directive, consent, approval, award, decree or similar determination or finding entered, issued, made or rendered by any Governmental Body. (98) “Ordinary Course of Business” means the ordinary and usual course of normal day to day operations of the Business consistent with past practice. (99) “Organizational Documents” means, with respect to a particular entity, (a) if a corporation, the articles or certificate of incorporation and bylaws, (b) if a general partnership, the partnership agreement and any statement of partnership, (c) if a limited partnership, the limited partnership agreement and certificate of limited partnership, (d) if a limited liability company, the articles or certificate of organization or formation and any limited liability company or operating agreement, (e) if another type of Person, all other organizational, charter and similar documents adopted or filed in connection with the creation, formation or organization of the Person, and (f) all amendments or supplements to any of the foregoing. (100) “Outside Date” shall have the meaning set forth in Section 4.4(b). (101) “Party” shall have the meaning set forth in the preamble. (102) “Permits” means to the fullest extent permitted under applicable law, all notifications, licenses, permits (including environmental, construction and operation permits), franchises, certificates, approvals, consents, waivers, clearances, exemptions, classifications,

Examples of Next Highest Bidder in a sentence

• In the event that the Successful Bidder fails to close the transactions contemplated in the Purchase Agreement (or the applicable Marked Agreement), then the Trustee shall be authorized, but not required, to close with the Next Highest Bidder without notice to any other party or further court order.

• If the Successful Bidder (or a Next Highest Bidder who agrees to maintain its status as a back-up bidder) timely closes by the closing date set forth in the Purchase Agreement or, if applicable, a Marked Agreement, then its Good Faith Deposit shall be credited towards the amount due at closing under the Purchase Agreement or such Marked Agreement.

• If the Successful Bidder (or a Next Highest Bidder who agrees to maintain its status as a back-up bidder) fails to timely close by the closing date set forth in the Agreement or, if applicable, a Marked Agreement, then its Good Faith Deposit shall be disposed of as provided in the Purchase Agreement (or the applicable Marked Agreement) or the Bidding Procedures.

• If the Trustee decides to close with the Next Highest Bidder, the Trustee and the Next Highest Bidder shall have an additional ten (10) calendar days to close, subject to extensions by the Court for cause shown.

• Subject to the terms and conditions of the Purchase Agreement or Marked Agreement, as the case may be, the Good Faith Deposits made by Qualified Bidders, other than those made by the Successful Bidder and any Next Highest Bidder who agrees to maintain its status as a back-up bidder, together with any and all interest that may have accrued thereon, shall be returned to such Qualified Bidder within ten (10) business days following the conclusion of the Auction.

• If the bidder initially identified by the Trustee as the Next Highest Bidder does not agree to such terms, then the Trustee, in her sole discretion, may identify the next highest or otherwise best bid as the Next Highest Bid, and may continue to do so until such a bidder who has submitted such a bid agrees to become the Next Highest Bidder.

• However, the Trustee’s acceptance at the Auction of a Successful Bid by a bidder other than Buyer shall not be deemed a termination of the Purchase Agreement and shall not require the Trustee to return the Good Faith Deposit of Buyer if Buyer agrees to become the Next Highest Bidder.

• The Good Faith Deposit of the Next Highest Bidder will be released by the Assignee two (2) business days after the Closing of the Sale.

• Within two (2) business days of the entry of the order approving the sale of the Premises, the Good Faith Deposit of the Next Highest Bidder shall be returned to such Next Highest Bidder.

• Any Sale shall be on an “as is, where is” basis with all faults and without representations or warranties of any kind, nature or description by the Assignee, its successors or assigns, whether written or verbal, whether express, implied or by operation of law, except and solely to the extent expressly set forth in the APA of theSuccessful Bidder or the Next Highest Bidder, as applicable.

More Definitions of Next Highest Bidder

Next Highest Bidder has the meaning set forth in the Bid Procedures. “Non-Recourse Parties” has the meaning set forth in Section 9.11.

Next Highest Bidder has the meaning set forth in the Sale Procedures.

Next Highest Bidder is defined in the Bidding Procedures. “Order” means any order, injunction, judgment, decree, ruling, writ, assessment or award of a Governmental Entity. “Ordinary Course of Business” means the ordinary and usual course of normal day-to-day operations of Seller’s Business, as conducted by Seller consistent with past practice and except for the consequences relating to the filing of the Chapter 11 Case; provided, that in no event shall “Ordinary Course of Business” include any breach of Law or Contract, or violation of any Permit. “Other Product” means any active ingredient, component or product that is not itself a Product but is a regulated component required to effect treatment of an applicable Indication. “Outside Date” is defined in Section 8.1. “party” and “parties” are defined in the Preamble. “Paying Party” is defined in Section 9.1(c). “Permits” means all material consents, approvals, authorizations, clearances, certificates, notices, permits, registrations, or licenses issued by any Governmental Entity. “Permitted Seller Person” is defined in Section 9.17(a). “Person” means a natural person, partnership, corporation, limited liability company, business trust, joint stock company, trust, unincorporated association, joint venture, Governmental Entity or other entity or organization. “Petition Date” is defined in the Recitals. “Preservation Period” is defined in Section 5.2(b).