Sale Procedures definition
Sale Procedures. Unless otherwise specified in the Supplement, shall mean that, with respect to any sale of one or more Underlying Securities or Related Assets, the Market Agent, on behalf of the Trust, shall sell such Underlying Securities or Related Assets to the highest bidders among not less than two solicited bidders for such Underlying Securities or Related Assets (one of which bidders may include Merrill Lynch & Co. or any Affiliate thereof; provided, however, that ▇▇▇▇▇▇r ▇▇▇▇ill Lynch & Co. nor any of its Affiliates will be under any oblig▇▇▇▇▇ ▇o ▇▇▇, and which bidders need not be limited to recognized broker dealers). In the sole judgment of the Market Agent, bids may be evaluated on the basis of bids for a single Underlying Security or Related Asset, a portion of the Underlying Securities or Related Assets, or all of the Underlying Securities or Related Assets being sold or any other basis selected in good faith by the Market Agent.
Sale Procedures. Unless otherwise specified in the Supplement, shall mean that, with respect to any sale of one or more Underlying Securities or Related Assets, the Market Agent, on behalf of the Trust, shall sell such Underlying Securities or Related Assets to the highest bidders among not less than two solicited bidders for such Underlying Securities or Related Assets (one of which bidders may include ▇▇▇▇▇▇▇ ▇▇▇▇▇ & Co. or any Affiliate thereof; provided, however, that neither ▇▇▇▇▇▇▇ ▇▇▇▇▇ & Co. nor any of its Affiliates will be under any obligation to bid, and which bidders need not be limited to recognized broker dealers). In the sole judgment of the Market Agent, bids may be evaluated on the basis of bids for a single Underlying Security or Related Asset, a portion of the Underlying Securities or Related Assets, or all of the Underlying Securities or Related Assets being sold or any other basis selected in good faith by the Market Agent.
Sale Procedures. Unless otherwise specified in the Series Supplement, shall mean that, with respect to any sale of one or more Underlying Securities, the Market Agent, on behalf of the Trust, shall sell such Underlying Security or Underlying Securities to the highest bidders among not less than two solicited bidders for such Underlying Securities (one of which bidders may include Lehman Brothers Inc. or any affiliate thereof; provided, however, that ▇▇▇▇▇er Lehman Brothers Inc. nor any of its affiliates will be under any oblig▇▇▇▇▇ to bid, and which bidders need not be limited to recognized broker dealers). In the sole judgment of the Market Agent, bids may be evaluated on the basis of bids for a single Underlying Security, a portion of the Underlying Securities or all of the Underlying Securities being sold or any other basis selected in good faith by the Market Agent.
Examples of Sale Procedures in a sentence
If specified in the applicable Series Supplement, upon the occurrences of specified events, the Trustee shall direct the Market Agent to sell the Underlying Securities in compliance with the Sale Procedures and to deposit the Liquidation Proceeds therefrom into the Certificate Account pursuant to Section 3.03(a) hereof.
Nothing contained herein shall be construed to prohibit Sellers and their respective Affiliates and Representatives from soliciting, considering, negotiating, agreeing to, or otherwise taking action in furtherance of, any Alternative Transaction but only to the extent that Sellers determine in good faith that such actions are permitted or required by the Sale Procedures Order.
In the event the Sale Procedures Order and the Sale Approval Order is appealed, Sellers shall use their reasonable best efforts to defend such appeal.
In the event of a sale of the Underlying Securities pursuant to Section 6 hereof, the Marketing Agent shall sell the Underlying Securities in accordance with the Sale Procedures.
If ---------------------------------------- specified in the applicable Series Supplement, upon the occurrences of specified events, the Trustee shall direct the Market Agent to sell the Underlying Securities in compliance with the Sale Procedures and to deposit the Liquidation Proceeds therefrom into the Certificate Account pursuant to Section 3.03(a) hereof.
More Definitions of Sale Procedures
Sale Procedures means the Sale Procedures substantially in the form set forth in Exhibit 4, as such procedures may be amended and approved in the Sale Procedures Order and in form and substance reasonably satisfactory to Purchaser.
Sale Procedures. Unless otherwise specified in the Series Supplement, shall mean that, with respect to any sale of one or more Underlying Securities, the Market Agent, on behalf of the Trust, shall sell such Underlying Security or Underlying Securities to the highest bidders among not less than two solicited bidders for such Underlying Securities (one of which bidders may include Citicorp Securities, Inc. or any affiliate thereof; provided, however, that neither Citicorp Securities, Inc. nor any of its affiliates will be under any obligation to bid, and which bidders need not be limited to recognized broker dealers). In the sole judgment of the Market Agent, bids may be evaluated on the basis of bids for a single Underlying Security, a portion of the Underlying Securities or all of the Underlying Securities being sold or any other basis selected in good faith by the Market Agent.
Sale Procedures means the bidding procedures set forth in the Sale Procedures Order, to be entered by the Bankruptcy Court.
Sale Procedures means, in connection with any sale of some or all of the Underlying Securities, the sale of such Underlying Securities to the highest of not less than three solicited bidders for such Underlying Securities (one of which bidders may be ▇▇▇▇▇▇ Brothers Inc. or one of its Affiliates; provided, however, that neither ▇▇▇▇▇▇ Brothers Inc. nor any of its Affiliates are obligated to bid, and that such bidders need not be limited to recognized broker dealers). In the sole judgment of the Market Agent, bids may be evaluated on the basis of bids for all or a portion of the Underlying Securities being sold or any other basis selected in good faith by the Market Agent. The Market Agent shall, prior to any sale of Underlying Securities to ▇▇▇▇▇▇ Brothers Inc. or any of its Affiliates, certify in writing to the Trustee that any such purchaser submitted the highest of at least three bids and shall identify the other bidders.
Sale Procedures means t▇▇ ▇▇▇▇▇▇▇ by which the Marketing Agent, on behalf of the Trust, will sell the Underlying Securities to the solicited bidder (which bidders will be determined by the Marketing Agent in its sole and absolute discretion and which bidders may include Lehman Brothers Inc. or any of its Affiliates but in any case shall i▇▇▇▇▇▇ at least two bidders which are not affiliated with Lehman Brothers Inc.; provided, however, that neither Lehman Brothers ▇▇▇. or any of its affiliates is obligated to bid, an▇ ▇▇▇▇ such bidders need not be limited to recognized broker dealers; and provided further that if Lehman Brothers Inc. or any of its affiliates are bidders, any bid ma▇▇ ▇▇ them shall not be greater than the fair value of the Underlying Securities) that provides the highest firm bid for the Underlying Securities. In the sole judgement of the Marketing Agent, bids may be evaluated on the basis of bids for all or a portion of the Underlying Securities being sold or any other basis selected in a commercially reasonable manner by the Marketing Agent.
Sale Procedures has the meaning set forth in Section 5.02(a).
Sale Procedures. Unless otherwise specified in the Series Supplement, shall mean that, with respect to any sale of one or more Underlying Securities, the Market Agent, on behalf of the Trust, shall sell such Underlying Security or Underlying Securities to the highest bidders among not less than two solicited bidders for such Underlying Securities (one of which bidders may include ▇▇▇▇▇▇ ▇▇▇▇▇▇ & Company, Inc. or any affiliate thereof; provided, however, that neither ▇▇▇▇▇▇ ▇▇▇▇▇▇ & Company, Inc. nor any of its affiliates will be under any obligation to bid, and which bidders need not be limited to recognized broker dealers). In the sole judgment of the Market Agent, bids may be evaluated on the basis of bids for a single Underlying Security, a portion of the Underlying Securities or all of the Underlying Securities being sold or any other basis selected in good faith by the Market Agent.]