Prohibited To Act. BID (a) No bankrupt is allowed to bid or act as an agent. (b) In the event a bankrupt bids or acts as an agent in relation to the sale of the Property, the Bidding Deposit shall be forfeited forthwith to the Assignee/Bank and the Property may be put up for sale again at a date and time to be fixed by the Assignee/Bank. (c) In the event a foreign citizen or foreign company bids in relation to the sale of the Property without the consent of the Economic Planning Unit, Prime Minister's Department, State Authorities and/or other relevant bodies (if required and whether in Malaysia or the relevant foreign jurisdictions), the Bidding Deposit shall be forfeited forthwith to the Assignee/Bank and the Property may be put up for sale again at a date and time to be fixed by the Assignee/Bank.
Appears in 24 contracts
Sources: Facility Agreement, Facility Agreement, Facilities Agreement
Prohibited To Act. BID
(a) No bankrupt is allowed to bid or act as an agent.
(b) In the event a bankrupt bids or acts as an agent in relation to the sale of the Property, the Bidding Deposit shall be forfeited forthwith to the Assignee/Bank Assignee and the Property may be put up for sale again at a date and time to be fixed by the Assignee/Bank.
(c) In the event a foreign citizen or foreign company bids in relation to the sale of the Property without the consent of the Economic Planning Unit, Prime Minister's Department, State Authorities and/or other relevant bodies (if required and whether in Malaysia or the relevant foreign jurisdictions), the Bidding Deposit shall be forfeited forthwith to the Assignee/Bank Assignee and the Property may be put up for sale again at a date and time to be fixed by the Assignee/Bank.
Appears in 3 contracts
Sources: Facilities Agreement, Facility Agreement, Facility Agreement