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Seller includes the selling entity as well as any affiliated companies.
The Purchase Agreement contains the specific terms and conditions for the sale of any Property subject to Auction.
- With respect to each property offered at Auction, means the minimum sales price established by the Seller (or Servicer, if applicable) prior to the Auction that will qualify the Property to be sold.
In the event the Highest Bid does not equal or exceed the Reserve Price, the Bidder submitting the Highest Bid may not qualify as a Winning Bidder but will be deemed the Highest Bidder.
- With respect to any Property offered at the Auction, refers to the final amount accepted by Seller following post-Auction negotiations between the Seller and the Bidder who made the Highest Bid at the Auction when such Highest Bid was less than the Reserve Price.
- Refers to any non-Short Sale Auction Property marketed where Bidder assumes all responsibility and liability for any occupancy, and assumes all responsibility, liability and cost of taking possession, including eviction.