Laserfiche WebLink
Case 14-33427 Doc 269 Filed 12/19/15 Entered 12/19/15 22:42:25 Desc Imaged <br />Certificate of Notice Page 10 of 20 <br />The Bidding Process <br />The Debtors shall: (i) determine whether any person is a Qualified Bidder, (ii) coordinate <br />the efforts of the Qualified Bidders in conducting their due diligence investigations of the <br />Equipment; (iii) receive offers from Qualified Bidders; and (iv) negotiate any offers made to <br />purchase the Equipment (collectively, the "Bidding Process"). Any person who wishes to <br />participate in the Bidding Process must be a Qualified Bidder. Neither the Debtors nor their <br />representatives shall be obligated to furnish any information of any kind whatsoever relating to <br />the Equipment to any person who is not a Qualified Bidder. The Debtors shall have the right to <br />adopt such other rules for the Bidding Process which, in their sole judgment, will better promote <br />the goals of the Bidding Process and which are not inconsistent with any of the other provisions <br />hereof or of any order of the Bankruptcy Court. <br />Participation Requirements <br />Unless otherwise ordered by the Bankruptcy Court for cause shown or as otherwise <br />determined by the Debtors in their sole discretion, to participate in the Bidding Process each <br />person (a "Potential Bidder") must deliver (unless previously delivered) to the Debtors: <br />i. Written evidence of a commitment for financing or other evidence of ability to <br />consummate the proposed transaction satisfactory to the Debtors in their sole discretion; <br />and <br />ii. An irrevocable proposal to purchase some or substantially all of the Equipment. <br />A Qualified Bidder is a Potential Bidder that delivers the documents described in <br />subparagraphs (i) and (ii), whose financial information demonstrates the financial capability of <br />the Potential Bidder to consummate the Sale, and that the Debtors determine is reasonably likely <br />(based on availability of financing, experience and other considerations) to submit a bona fide <br />offer and to be able to consummate the Sale if selected as the Successful Bidder. <br />Within three (3) business days after a Potential Bidder delivers all of the materials <br />required by subparagraphs (i) and (ii) above, the Debtors shall determine, and shall notify the <br />Potential Bidder, whether the Potential Bidder is a Qualified Bidder. At the same time that the <br />Debtors notify the Potential Bidder that it is a Qualified Bidder, the Debtors shall allow the <br />Qualified Bidder to conduct due diligence with respect to the assets sought to be acquired as <br />hereinafter provided. <br />23119107.4 <br />3 <br />