Common use of Control Event Clause in Contracts

Control Event. In the event that Distributor sells all or substantially all of its business or assets to which this Agreement relates to a non-affiliate, or has more than fifty percent (50%) of its equity securities purchased by a single purchaser who is a non-affiliate in one transaction (a “Control Event”) (whether by sale, acquisition, merger, operation of law or otherwise), then Micrus may terminate this Agreement with thirty (30) days’ prior written notice at any time after the occurrence of the Control Event. In the event that Micrus sells all or substantially all of its business or assets to which this Agreement relates to a non-affiliate, or has more than fifty percent (50%) of its equity securities purchased by a purchaser who is a non-affiliate in one transaction (a “Change of Control”), then Micrus may terminate this Agreement at any time provided Micrus pays Distributor a termination fee of twice the amount of net sales of Distributor derived from sales of Products in the Territory during the twelve

Control Event. In the event that Distributor sells all or substantially all of its business or assets to which this Agreement relates to a non-affiliate, or has more than fifty percent (50%) of its equity securities purchased by a single purchaser who is a non-affiliate in one transaction (a “"Control Event”") (whether by sale, acquisition, merger, operation of law or otherwise), then Micrus may terminate this Agreement with thirty (30) days’ days prior written notice at any time after the occurrence of the Control Event. In the event that Micrus sells all or substantially all of its business or assets to which this Agreement relates to a non-affiliate, or has more than fifty percent (50%) of its equity securities purchased by a purchaser who is a non-affiliate in one transaction (a “Change of Control”)transaction, then Micrus may terminate this Agreement at any time time, provided Micrus pays Distributor a termination fee of twice fifteen (15%) of the amount Minimum Purchase Requirement for the year in which termination will be effective. For purposes of net sales this section, a non-affiliate is not a parent, subsidiary or a subsidiary of Distributor derived from sales of Products in the Territory during the twelvea common parent or a successor.

Control Event. In the event that Distributor sells all or substantially all of its business or assets to which this Agreement relates to a non-affiliate, or has more than fifty percent (50%) of its equity securities purchased by a single purchaser who is a non-affiliate in one transaction (a “Control Event”) (whether by sale, acquisition, merger, operation of law or otherwise), then Micrus may terminate this Agreement with thirty (30) days’ days prior written notice at any time after the occurrence of the Control Event. In the event that Micrus sells all or substantially all of its business or assets to which this Agreement relates to a non-affiliate, or has more than fifty percent (50%) of its equity securities purchased by a purchaser who is a non-affiliate in one transaction (a “Change of Control”)transaction, then Micrus may terminate this Agreement at any time time, provided Micrus pays Distributor a termination fee of twice fifteen (15%) of the amount Minimum Purchase Requirement for the then current term. For purposes of net sales this section, a non-affiliate is not a parent, subsidiary or a subsidiary of Distributor derived from sales of Products in the Territory during the twelvea common parent or a successor.