Common use of Consent Right Clause in Contracts

Consent Right. 1.1 Defintions used in this ARTICLE 1. (a) As used in Section 1.2, "Spinoff Event" means any event that (i) results in E-Z-EM's voting rights, ownership percentage in the voting stock of the Company and/or ownership of any other class of securities in the Company, as calculated under the applicable rules and regulations under the Code, decreasing below 80% on a Fully-Diluted Basis (other than Excluded Options), or (ii) would otherwise be the primary cause of the Distribution by E-Z-EM's and any applicable E-Z-EM Entities failing to be a tax-free transaction under the Code.

Consent Right. 1.1 Defintions used in this ARTICLE 1. (a) As used in Section 1.2, "Spinoff Event" means any event that (i) results in E-Z-EM's voting rights, ownership percentage in the voting stock of the Company and/or ownership of any other class of securities in the Company, as calculated under the applicable rules and regulations under the Code, decreasing would either (i) decrease below 80% on a Fully-Diluted Basis (other than Excluded Options), or (ii) would otherwise be the primary cause of the Distribution by E-Z-EM's and any applicable E-Z-EM Entities failing to be a tax-free transaction under the Code.