Competing Bid definition

Competing Bid shall have the meaning set forth in Section 7.2(b).
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Competing Bid means a Take-over Bid that: (i) is made while another Permitted Bid is in existence, and (ii) satisfies all the components of the definition of a Permitted Bid, except that the requirements set out in Clause (ii) of the definition of a Permitted Bid shall be satisfied if the Take-over Bid shall contain, and the take up and payment for securities tendered or deposited thereunder shall be subject to, an irrevocable and unqualified condition that no Voting Shares shall be taken up or paid for pursuant to the Competing Bid prior to the close of business on the date that is no earlier than the date which is the later of thirty-five (35) days after the date the Competing Bid is made or sixty (60) days after the earliest date on which any other Permitted Bid or Competing Bid that is then in existence was made and only if at that date, more than fifty percent (50%) of the then outstanding Voting Shares held by Independent Shareholders have been deposited or tendered to the Competing Bid and not withdrawn.
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Competing Bid shall have the meaning set forth in Section 7.1. “Deposit” shall have the meaning set forth in Section 3.1.
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Examples of Competing Bid in a sentence

  • In addition, the Rights will be redeemed automatically in the event of a successful Permitted Bid, Competing Bid or a bid for which the Board has waived the operation of the Rights Plan.

  • If no Competing Bid is determined by the Canadian Bankruptcy Court to constitute a Superior Competing Bid, the Canadian Assets shall be transferred to Canadian Newco on the Effective Date pursuant to the terms of the Asset Purchase Agreement, and such transfer shall be approved by the Bankruptcy Court pursuant to the Confirmation Order and by the Canadian Bankruptcy Court pursuant to the CCAA Vesting Order.

  • If the Canadian Bankruptcy Court determines that at least one Competing Bid constitutes a Superior Competing Bid, the Debtors shall conduct an auction for the Canadian Assets, under the supervision of the CCAA Monitor and in accordance with the Sale Procedures, between Canadian Newco and the Person(s) that submitted such Superior Competing Bid(s).

  • The Parties agree that neither the failure to obtain a court order nor any action with respect to a Competing Bid (as defined below), to the extent permitted hereunder, shall be deemed to be a failure to use the efforts required to satisfy the conditions to consummation of the transactions contemplated hereunder nor a breach hereunder.

  • In such event,.the Purchase Price set forth in Section 3.1 shall be amended to an amount equal to the Highest Competing Bid matched by Buyer and the respective rights, obligations and duties of Company and Buyer for Buyer's purchase of the Sale Assets shall be as otherwise set forth in this Agreement subject to the amendment of the Purchase Price as above provided.


More Definitions of Competing Bid

Competing Bid means a Take-over Bid that: (i) is made while another Permitted Bid is in existence, and (ii) satisfies all the components of the definition of a Permitted Bid, except that the requirements set out in Clause (ii) of the definition of a Permitted Bid shall be satisfied if the Take-over Bid shall contain, and the take up and payment for securities tendered or deposited thereunder shall be subject to, an irrevocable and unqualified condition that no Voting Shares shall be taken up or paid for pursuant to the Competing Bid prior to the close of business on the date that is no earlier than the date which is the later of thirty-five (35) days after the date the Competing Bid is made or sixty (60) days after the earliest date on which any other Permitted Bid or Competing Bid that is then in existence was made and only if at that date, more than fifty percent (50%) of the then outstanding Voting Shares held by Independent Shareholders have been deposited or tendered to the Competing Bid and not withdrawn; provided always that a Competing Bid will cease to be a Competing Bid at any time when such bid ceases to meet any of the provisions of this definition and any acquisitions of securities made pursuant to such bid that has ceased to be a Competing Bid, including any acquisition of securities theretofore made, will cease to be a Permitted Bid Acquisition.
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Competing Bid has the meaning set forth in Section 5.1.
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Competing Bid means any bid contemplating an Alternative Transaction.
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Competing Bid has the meaning ascribed thereto in Section 13.4.
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Competing Bid has the meaning set forth in Section 6.13(a).
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Competing Bid means (i), in relation to Nykredit, Finansiel Stabilitet, FS Finans and Clipper Group, a competing bid from any third party independent of Mols-Linien, Nykredit, Finansiel Stabilitet, FS Finans, Clipper Group, Polaris and the Offeror to buy all Shares in the Company, including the Shares held by Nykredit, Finansiel Stabilitet, FS Finans and Clipper Group, at a price per Share exceeding DKK 34, or (ii), in relation to Shareholders other than Nykredit, Finansiel Stabilitet, FS Finans and Clipper Group, a competing bid as defined in Section 26 of the Danish Takeover Order.
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Competing Bid means any bid for the Canadian Assets that may be submitted by any Person or Entity other than Canadian Newco pursuant to Section 5.1.6 of this Plan; provided, however, that any bid for the Canadian Assets that does not comply with the requirements of Section 5.1.6 of this Plan shall not be deemed to constitute a Competing Bid.
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