| Official Bid Registration | |
Deposits |
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three (3) business days after conclusion of the Bid Opening, together with interest
accrued thereon, shall be returned to any bidder whose bid was not the Successful Bid. The
deposit submitted by the party making the Successful Bid, together with the interest
thereon, shall be applied against the payment of the Purchase Price upon consummation of
the Asset Sale to the Successful Bidder The bidder shall provide evidence reasonably satisfactory to the Sellers demonstrating that the bidder has financial ability to close and consummate an acquisition of the Assets on or prior to Closing Date. If the Successful Bidder, fails to consummate the purchase of the Assets due to its breach of its purchase agreement with the Sellers, the Sellers shall retain the Deposit of Successful Bidder as liquidated damages.
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Right to Accept / Reject Bids |
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| The Sellers
may, at any time reject any purported bid in the Seller’s sole and absolute
discretion as inadequate insufficient, not in conformity with the requirement of the terms
and conditions of sale or contrary to the best interest of the Sellers. If the Successful Bidder fails to close the Sale in accordance with the terms of the Purchase Agreement, the Assets will be sold to the Qualified Bidder submitting the next highest bid that is able to close in accordance with the terms of the Purchase Agreement In case of Tie Bids, the Auctioneer shall conduct an auction between the tied parties to determine a final High Bidder and Purchaser
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Sealed Bid |
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To Receive an Offical Sealed Bid Auction package, Email the following information to nelson-intl@nelson-int.com. COMPANY NAME:
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