Common use of Notification of Assignment of Rights Clause in Contracts

Notification of Assignment of Rights. IronPlanet hereby notifies prospective bidders/Buyers that the consigners of certain pieces of Equipment have assigned to a qualified intermediary their rights, but not their obligations, under the Auction Seller Agreement for purposes of effecting a deferred Like-Kind Exchange under section 1031 of the Internal Revenue Code of 1986, as amended, and the applicable regulations. Void Bids. IronPlanet reserves the right to reject or void bids, whether winning or not, which it believes have not been made in good faith, are intended to manipulate the auction process, or are prohibited by any applicable law, restriction or regulation. Winning Bids. IronPlanet is the one and only judge for the determination of winning bids (“Final Sale Price” or “Final Selling Price”), but IronPlanet shall not be liable for any errors or omissions relating to such determination, whether by IronPlanet or some other person.

Notification of Assignment of Rights. IronPlanet hereby notifies prospective bidders/Buyers that the consigners of certain pieces of Equipment have assigned to a qualified intermediary their rights, but not their obligations, under the Auction Seller Agreement for purposes of effecting a deferred Like-Kind Exchange under section 1031 of the Internal Revenue Code of 1986, as amended, and the applicable regulations. Void Bids. IronPlanet reserves the right to reject or void bids, whether winning or not, which it believes have not been made in good faith, are intended to manipulate the auction process, or are prohibited by any applicable law, restriction or regulation. IronPlanet Contract #13657 Private and Confidential Winning Bids. IronPlanet is the one and only judge for the determination of winning bids (“Final Sale Price” or “Final Selling Price”), but IronPlanet shall not be liable for any errors or omissions relating to such determination, whether by IronPlanet or some other person.