Sealed Bid Sale. All Property is being offered through a sale process referred to herein as a sealed bid (“Sealed Bid”) auction, wherein interested parties (“Bidder” or “Buyer”) are being asked to submit offers to the Sales Agent for the Property for consideration by Seller. The bid process is defined herein, and all bids submitted to Sales Agent are subject to the terms and conditions specified below.
Bid Deadline. All bids must be submitted to Sales Agent on or before 5:00 pm (PT), Monday December 17, 2018 (“Bid Deadline”). Bids received after the Bid Deadline may not be considered, as determined in Seller’s sole discretion.
Required Bid Information. All bids submitted to Sales Agent must include the following:
• Completed and signed Bidder Qualification Form (Included in this Package)
• Receipt of a deposit (the “Deposit”) in cash equal to 10% of the offer amount.
• Proof of financial ability to pay the balance of the purchase amount due at close.
Inspections. All prospective bidders are welcome to examine the Property subject to this Sale and have access to additional due diligence information prior to submitting their bid. The Property will be available for inspection by appointment only. Arrangements for inspection must be made with Tiger. Contact John Coelho at: jCoelho@TigerGroup.com or by calling +1-617-523-5866. Upon execution of a Non Disclosure Agreement (“NDA”), prospective bidders will receive access to the additional information.
Notice. Bidders may be advised by notice(s) of additions, deletions or alterations in any document forming a part of the Bid Package any time prior to the Bid Deadline. Such revised documents will be available to prospective bidders.
Submission of Bid. Except as otherwise permitted by this Bid Package, all bids submitted must be unconditional and without alteration to the Bid Form. All bidders must complete, execute and return to Tiger the Bid Form, executed by the bidder together with the required Deposit before any bids will be considered. Bids must be delivered by hand or mail to Tiger Group at 340 N. Westlake Blvd., Suite 260, Westlake Village, California 91362, to the attention of Jeremy Halford or by email, provided all applicable deposit requirements have been met, to auctions@TigerGroup.com. All bids must be received on or before 5:00 PM (PT) Monday December 17, 2018.
Bids Are Irrevocable. By submitting a bid, the bidder is making an irrevocable offer to purchase the Property bid upon. The bidder acknowledges and agrees that by submission of its bid, it is accepting the terms and conditions set forth in these Instructions, the APA, the License Agreement and any other ancillary documents referenced in the APA and none other. Upon submission of a bid, the offers contained therein are irrevocable.
All Bids are subject to Approval by the US Bankruptcy Court.