Common use of Extinguishment Clause in Contracts

Extinguishment. The Rights shall be extinguished without payment therefor and have no further force and effect (i) on December 31, 1997, if no Change of Control has occurred prior to such date as evidenced by an Officers' Certificate delivered to the Trustee or (ii) on March 31, 1999 if Net Sales for the Contingent Payment Period shall not have exceeded $122,000,000 as evidenced by an Officers' Certificate and accompanied by a certificate or opinion of an independent public accountant prepared in accordance with Section 1.03 delivered to the Trustees. ARTICLE FOUR

Appears in 5 contracts

Samples: Contingent Payment Rights Agreement (Fusion Systems Corp), Contingent Payment Rights Agreement (Fusion Systems Corp), Merger Agreement (Eaton Corp)

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