Common use of Termination Upon Change in Ownership Clause in Contracts

Termination Upon Change in Ownership. Distributor agrees that at any time after Supplier becomes a publicly held corporation, either through an initial public offering or a business combination with a publicly held corporation, that Supplier shall have the option to terminate this Agreement. Upon the event of a termination in accordance with this Section 9.3, Supplier shall pay Distributor the fair market value for purchasing the rights granted hereunder for the duration of the Initial Term. If the parties cannot agree on such fair market value, they shall each hire an appraiser to calculate the fair market value. If the two appraisers cannot agree on the value, such appraisers shall retain a third appraiser to calculate the fair market value, which determination shall be binding on the parties. The parties shall share equally in the cost of such appraisals.

Termination Upon Change in Ownership. Distributor agrees that at any time after if Supplier becomes a publicly publicly-held corporation, either through an initial public offering or a business combination with a publicly publicly-held corporation, that Supplier shall have the option to terminate this Agreement. Upon the event of a termination in accordance with this Section 9.38.3, Supplier shall pay Distributor the fair market value for purchasing the rights granted hereunder for the duration of the Initial TermTerm and the extended term. If the parties cannot agree on such fair market value, they shall each hire an appraiser to calculate the fair market value. If the two appraisers cannot agree on the value, such appraisers shall retain a third appraiser to calculate the fair market value, which determination shall be binding on the parties. The parties shall share equally in the cost of such appraisals.